Traverse City-based Versus Technology Inc. Thursday announced a loss of $448,000 for its third fiscal quarter ended July 31, worse than a loss of $134,000 in the same quarter a year earlier. Revenue was $1.2 million, down 8 percent from $1.3 million a year earlier.

For the nine months, the company's loss was $825,000, worse than a loss of $544,000 for the first nine months of the prior fiscal year. Revenue was $4 mllion, up 13 percent from $3.6 million in the same nine months of the prior fiscal year.

Versus noted that its quarterly revenues can vary significantly depending on the timing and delivery of major customer projects. Accordingly, revenues reported in any one quarter are not necessarily indicative of what full year results will be.

Gross profits as a percentage of revenues were 71 percent for the current year's third quarter compared to 69 percent for the same quarter of the prior year.

Most of the reason for the bigger losses this year: sharp increases in both marketing and research-and-development costs.

Versus (Pink Sheets: VSTI.PK) develops context-aware systems used for the management of patient flow and medical assets and to improve caregiver-patient communications in medical and long-term care facilities. Versus supplies active radio frequency identification and infrared tags and readers that make locating systems more precise, security systems more intelligent, data collection routines automatic, and asset management systems more efficient.

Versus systems, installed in hospitals, corporate facilities, government facilities, and other complexes, permit the automatic and accurate registry of essential management and business information. By monitoring the precise location of personnel or equipment and automatically recording events associated with their locations, the systems offer real-time asset and staff locating, automatic data collection, access and egress control, and a passive source of location data that facilitates scheduling and communication interfaces. Versus' proprietary locating systems are sold primarily through an expanding network of resellers and dealers.

More at www.versustech.com.