Sales, Losses Up for Merge in Q4
Revenue shot up for medical diagnostic imaging software vendor Merge Healthcare Inc. during the fourth quarter of 2009, but so did losses.
Revenue shot up for medical diagnostic imaging software vendor Merge Healthcare Inc. during the fourth quarter of 2009, but so did losses.
The Milwaukee-based company lost $2.1 million in the quarter, compared with a $1.9 million profit during the same period a year ago. Quarterly revenue rose 28 percent to $19.3 million, with recurring revenue greater than 60 percent.
Merge during the fourth quarter raised $25.2 million from an offering of common stock. The company paid off an existing note, resulting in $7.1 million of net proceeds. For all of 2009, Merge had net income of $300,000, compared with a $23.7 million loss in 2008. Annual revenue increased 18 percent to $66.8 million. More information is available at merge.com.
--Joseph Goedert
The Milwaukee-based company lost $2.1 million in the quarter, compared with a $1.9 million profit during the same period a year ago. Quarterly revenue rose 28 percent to $19.3 million, with recurring revenue greater than 60 percent.
Merge during the fourth quarter raised $25.2 million from an offering of common stock. The company paid off an existing note, resulting in $7.1 million of net proceeds. For all of 2009, Merge had net income of $300,000, compared with a $23.7 million loss in 2008. Annual revenue increased 18 percent to $66.8 million. More information is available at merge.com.
--Joseph Goedert
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