TEMPE, Ariz., March 14, 2007 (PRIME NEWSWIRE) (PRIMEZONE) -- OrthoLogic Corp. (Nasdaq:OLGC) today announced financial results for the year ending December 31, 2006. Net loss was $31.9 million, or $0.78 per share versus a net loss of $27.2 million or $0.72 per share for the year ended December 31, 2005. The $4.7 million increase in net loss for 2006 compared to the same period in 2005 results primarily from $2.8 million of stock compensation expense, recognition of a $2.1 million Chrysalin product platform patent impairment loss, $8.4 million of in-process research and development costs related to the acquisition of the AZX100 technology platform and recognition of income tax expense related to the recording of a valuation allowance of $1.1 million for a deferred tax asset related to an Alternative Minimum Tax credit carryover.
