Avatech Q3 Revenues Down 12%

Such sweet sounding headlines and subheads in Avatech's press release on its Q3 financials:

-- Avatech Solutions Reports Third Consecutive Quarter of Profitability and Net Income of $1.0 Million
-- Earnings Per Fully Diluted Share Increased to $0.12 for the Nine Months Ended March 31, 2008
-- Third quarter service revenue increases 11% year-over-year to $3.1 million

Problem is, revenue fell to $12.8 million, down 12.3% from a year ago. The good news is that Avatech has $4 million in the bank and no debt. Details here.