BOLZANO, Italy, April 14 /PRNewswire/ -- Health Robotics today announced audited results for FY2008 ending December 31, 2008, delivering record levels of firm purchase orders, revenue, earnings and cash flow.
Revenues in FY2008 were EUR8.2 million, a 161% increase year-over-year as the company began to record and enjoy the benefits of its indirect sales-channel franchise fee model, recurring revenue recognition, zero debt financing, worldwide adoption of its technology, and its conservative accounting practices of up-front expenditures with no amortization of RD expenses.