A restructuring charge sunk Merge Healthcare's bottom line in 2006.
For the year (end-December 31), revenue for the Milwaukee-based radiology informatics and advanced visualization developer totaled $75 million, compared with $82.6 million in 2005. The net loss was $258.5 million -- which included a restructuring charge of $230.8 million -- compared with a net loss of $2.7 million in 2005.
In the fourth quarter of 2006, revenue slipped to $13.2 million, compared with $25.5 million in the fourth quarter of 2005. The net loss reached $27 million, compared with net income of $2.8 million in the same quarter a year ago.
In a prepared statement, CEO Ken Rardin said the company's financial results "will continue to lag some of our strategic decisions," but Merge has "made great strides in repositioning the company to become a leading global supplier of medical imaging and clinical applications" in the future.
By AuntMinnie.com staff writers
March 9, 2007
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