An increase in government sales helped healthcare IT firm QuadraMed maintain its revenues in the third quarter.
For the period (end-September 30), the Reston, VA-based company posted revenues of $32.9 million, compared with $33 million in the third quarter of 2006. Net income was $1.5 million, compared with $6 million in the same quarter a year ago. QuadraMed blamed the lower profits, in part, on a one-time expense of $1.5 million related to salaries and wages.
For the nine-month period, revenues rose to $96.4 million, compared with $93.9 million in the same period of 2006. Net income declined to $6.3 million, compared with $8 million in the same period a year ago.
Related Reading
QuadraMed debuts updated scheduling software, August 17, 2007
QuadraMed bids to buy Misys CPR assets, July 24, 2007
Misys awarded EMR contract, June 12, 2007
Misys teams up with Connecticut physician network, June 6, 2007
QuadraMed bookings increase in 2006, January 31, 2007
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