Versatile Systems Inc. (TSX-V:VV) has reported a net loss of $67,622 on sales of $14.5 million for the quarter ending March 31. The Vancouver company posted net earnings of $70,471 on sales of $12.4 million for its first quarter in 2007.
Versatile spent $397,591 on research and development in the quarter, which was up from the $254,565 it invested in R&D in the same quarter a year ago.
The technology systems and software company, which provides sales, marketing and distribution business solutions, also repaid a term loan of $2.7 million this past quarter and negotiated a new $5.8 million line of credit.
Versatile's share price range during the past week: between $0.20 and $0.22; 52-week high: $0.65; 52-week low: $0.18.