Strong growth in bookings contributed to modest financial gains for PACS vendor Amicas in 2007.
For the fourth quarter (end-December 31), the Boston-based company had revenues of $11.7 million, up 2.6% from the $11.4 million reported in the fourth quarter of 2006. Amicas posted a net loss from continuing operations of $902,000, compared with a net loss from continuing operations of $1.1 million in the same period a year ago.
For 2007, Amicas had total revenues of $49.9 million, up 1% from the $49.4 million recorded in 2006. The vendor had a net loss from continuing operations of $862,000, compared with a net loss from continuing operations of $1.3 million last year.
President and CEO Dr. Stephen Kahane noted that bookings grew 20% in 2007, and that Amicas feels the company is entering 2008 in a strong and very competitive position.
Looking ahead, Amicas said it expects 2008 revenues to range between $52 million and $54 million, with pro forma earnings before interest, taxes, deprecation, and amortization (EBITDA) between $1 million and $1.5 million. That would equate to a net loss of approximately 2¢ per share, Amicas said.
Related Reading
Amicas signs new PACS contracts, January 29, 2008
Amicas nets MedQuest contract, November 28, 2007
Road to RSNA, Health Informatics, Amicas, November 8, 2007
Amicas receives Arizona contract, October 26, 2007
Road to RSNA, PACS, Amicas, October 25, 2007
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