Tough Quarter for Emageon

HDM Breaking News, May 14, 2008

Revenue fell nearly 30% and net losses rose during the first quarter of 2008 for medical imaging software vendor Emageon Inc.

The Birmingham, Ala.-based company had a quarterly loss of $4.6 million, compared with a $1.8 million loss during the same period last year. Emageon took an $800,000 charge in the quarter for employee severance and related expenses. Quarterly revenue totaled $19.3 million, compared with $27.4 million in the first quarter of 2007.

Emageon’s cash at the end of the quarter, however, rose to $18.3 million, compared with $17 million at the end of 2007. The company has not drawn on its $15 million line of credit and has total debt of less than $100,000.

The vendor also reaffirmed its financial projections for all of 2008. More information is available at emageon.com.

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