The acquisition of RIS Logic in 2003 has enabled Merge eFilm to report record revenues and earnings for its fourth quarter (end-December 31) and 2003 fiscal year, the company said.
The Milwaukee company posted sales for the period of $8.5 million, up 26% compared with the $6.7 million booked in the same period a year ago. For the quarter, Merge reported net income of $1.9 million, a 48% increase compared with net income of $1.3 million for the fourth quarter last year.
For the fiscal year, the company reported revenues of $28.7 million, a 38% gain compared with revenues of $20.8 million for fiscal 2002. Net income has also shown substantial increases in year-to-year comparison. Net income for 2003 was $6.2 million, up 72% compared with net income of $3.6 million in 2002.
Merge eFilm issued a 2004 guidance that it anticipates revenues to grow 30%-35% year-over-year to a range of $37.5 million-$39.5 million, a 50% increase in pretax earnings over comparable 2003 pretax earnings, the company said.
By AuntMinnie.com staff writersFebruary 19, 2004
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