Milwaukee-based PACS developer Merge eFilm posted 41% growth in net sales to $8.6 million in the first quarter of 2004 (end-March 31). The company posted $1.4 million in net income, versus $1.3 million in net income in the same period of 2003.
Operating margins were steady at 25% but earnings per share on a diluted basis were down to 10¢ per share compared to 11¢ in the comparable quarter of the previous fiscal year due to increased tax burden.
Merge attributed its strong sales growth to the successful integration of RIS Logic, which it acquired in 2003, and greater focus on direct sales in North America.
In a statement announcing its results, the company also reaffirmed its guidance for the full year 2004. Revenues are estimated to grow 30%-35% year-on-year to $37.5 million-$39.5 million. EPS for the full year is projected at 47¢-52¢ based on a 50% growth in pre-tax earnings.
By AuntMinnie.com staff writersApril 29, 2004
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Merge’s Simon tapped for DICOM post, January 29, 2004
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