PACS firm Merge eFilm reported first-quarter net sales of $6.1 million, up 35% compared with net sales of $4.5 million in last year's first quarter. For the period (end-March 31), the Milwaukee-based vendor had net income of $1.3 million, compared with net income of $704,000 in 2002.
President and CEO Richard Linden credited marketplace adoption of Merge eFilm's Fusion Server and eFilm Workstation for the strong financial performance. In other developments, the company has applied to list its stock on the Nasdaq National Market, and anticipates approval in the next four to six weeks, Linden said.
The company also reaffirmed its 2003 revenue guidance to be in the range of $27 million to $28 million, with 30% to 35% annual growth. Merge eFilm raised its estimate for diluted earnings per share (EPS) on a pre-tax basis to 52¢ to 57¢, with an after-tax diluted EPS of 47¢ to 52¢.
By AuntMinnie.com staff writersApril 30, 2003
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