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.
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