Merge loss widens in 2000

Merge Technologies reported declining revenues and a larger net loss in 2000, but the Milwaukee-based PACS and connectivity firm believes profitability is right around the corner. In 2000 (end-December 31), Merge had revenues of $12.6 million, down 5.2% compared with the $13.3 million posted last year. Merge had a net loss of $5.5 million, compared with a net loss of $2.8 million in 1999.

For the fourth quarter, Merge reported revenues of $3.5 million, down 11.7% compared with the $4 million posted in the same period in 1999. Merge had a net loss of $1.6 million, compared with a net loss of $598,000 last year.

Merge executives believe a turnaround is near, however. The firm anticipates break-even performance on a net income basis for the second quarter with growing, positive net income on a quarterly basis for the remainder of 2001 and beyond, said president and CEO Richard Linden. Merge plans to deliver the first in a series of clinical workflow applications in the third quarter, with the second to follow early in the fourth quarter, according to the firm.

By AuntMinnie.com staff writers
March 2, 2001

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