Meditech revenue dips 0.7% in Q1: 4 things to know

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Westwood, Mass.-based Meditech released its financial results for the first quarter of 2017.

Here are four things to know.

1. Meditech posted total revenue of $117.15 million, down 0.7 percent from $117.93 million in the first quarter of 2016.

2. Of its total first quarter revenue, $34.78 million represented product revenue and $82.37 million represented service revenue.

3. Meditech's operating income dropped 17.2 percent, from $15.99 million in first quarter of 2016 to $13.25 this past quarter.

4. The company's net income hit $14.51 million in the first quarter, a 23.6 percent decrease from $18.98 million in the same quarter a year prior.

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