An influx of revenues from its acquisition of RIS Logic helped Merge eFilm report sharply higher revenues for the third quarter (end-September 30). The Milwaukee company posted sales for the period of $7.6 million, up 43% compared with the $5.3 million booked in the same period a year ago.
For the quarter, Merge reported net income of $1.6 million, a 55% increase compared with net income of $1 million for the third quarter last year. The quarterly results included 2 1/2 months of revenue from RIS Logic, the company said.
For the first three quarters of its fiscal year, the company reported revenues of $20.1 million, a 44% gain compared with revenues of $14 million for the same period in fiscal 2002. Net income has also shown substantial increases in year-to-year comparison. Net income for the period was $4.3 million, up 85% compared with net income of $2.4 million last year at this time.
According to Richard Linden, Merge eFilm president and CEO, the firm’s acquisition of Solon, OH-based RIS Logic has had a positive impact on its balance sheet. The company added 18 new PACS or RIS customers in the third quarter, as well as two new RIS/PACS accounts, he said.
By AuntMinnie.com staff writersOctober 30, 2003
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