Medication and blood bank management software vendor Mediware Information Systems Inc. increased profit and revenue during the second quarter of fiscal 2010, slightly beating investment analyst expectations.
The increases resulted from strong organic growth and two acquisitions that contributed 20 days of revenue to the quarter, says CEO Thomas Mann. For the quarter, Mediware had net income of $783,000, up 158 percent compared with the same period a year ago. Quarterly revenue increased 8 percent to $10.8 million. It was the sixth consecutive quarter of growth in earnings and revenue.
For the first half of fiscal 2010, Medicare had net income of $1.4 million, up 169 percent, as revenue grew 8.6 percent to nearly $21.6 million.
Mediware recently acquired Healthcare Automation Inc., which sells home health management software, and Advantage Reimbursement, a vendor of home health billing services. More information is available at mediware.com.
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