PACS firm Merge eFilm reported second-quarter net sales of $8.9 million, up 38% compared with the $6.4 million posted in the second quarter of 2003. For the period (end-June 30), the Milwaukee-based firm had net income of $1.5 million, compared with net income of $1.4 million a year ago.
President and CEO Richard Linden said that quarterly highlights included record growth in the company's North American direct sales and service division. While the firm's OEM and international sales channels have had difficulty meeting their financial goals, the company said it is encouraged that the OEM channel will produce improved results in the second half of 2004.
During the quarter, Merge eFilm said that it closed 20 new Fusion RIS, PACS and RIS/PACS contracts, increasing the total number of Fusion customers to 160, representing over 320 healthcare facilities.
The company reaffirmed its 2004 guidance of revenue growth of 30% to 35%, ranging from $37.5 million to $39.5 million. Pre-tax earnings are expected to climb 50% over the comparable 2003 pre-tax earnings.
By AuntMinnie.com staff writersJuly 28, 2004
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