Merge readies final restatements

AuntMinnie.com staff writers
Oct 29, 2007

Healthcare IT and advanced visualization developer Merge Healthcare said it plans to complete filing of its restated financial statements on or before December 31.

The Milwaukee-based firm said it expects to restate revenue associated with approximately 15 software contracts valued at approximately $2 million; the associated revenue with the majority of these contracts will be recognized over a 20-quarter period following completion of software installation at each customer site. All of these contracts were signed prior to January 1, 2006.

As a result of the restatement, Merge said it expects to report a $1 million decrease in previously reported revenues for 2004, 2005, and 2006. A revenue increase of less than $100,000 per quarter is expected thereafter, running through the expiration of the respective contract period, according to the vendor.

By AuntMinnie.com staff writers
October 30, 2007

Related Reading

Road to RSNA, Merge Healthcare, October 26, 2007

Road to RSNA, Merge Healthcare, October 25, 2007

Merge offers affiliate program, August 29, 2007

Varian licenses Cedara DICOM Toolkit, August 28, 2007

Merge to restate financials, faces Nasdaq delisting, August 14, 2007

Copyright © 2007 AuntMinnie.com

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