Healthcare IT and advanced visualization developer Merge Healthcare of Milwaukee has posted a net loss and a slight increase in revenue for the third quarter of 2009 (end-September 30).
For the quarter, Merge enjoyed revenue of $16.9 million, up 16% from the previous year's $14.6 million. The company posted a net loss of $900,000, compared with net income of $400,000 in the third quarter of 2008. Merge attributed the quarterly loss to a down cycle in the economy and depressed spending in its customer base; the current results compare to net income of $400,000 in the second quarter of this year.
For the nine months ending September 30, Merge's net sales totaled $47.6 million, a 14% increase compared to 2008's $41.7 million. Net income for the nine months totaled $2.4 million, compared with a net loss of $25.6 million for the nine months ended September 30, 2008.
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