PACS and connectivity firm Merge Technologies reported first-quarter revenues of $4.5 million, an increase of 36% over revenues of $3.3 million in the first quarter of 2001. For the period (end-March 31), the Milwaukee-based firm had net income of $704,000, compared with a net loss of $82,000 in the same quarter last year.
Gross profit increased to 68% in the quarter, from 65% for the quarter in 2001. Although year-over-year operating expenses were comparable, expenses for sales, marketing, and professional service increased $233,000 in the quarter, as compared to the same period a year ago. The company also reported a cash increase of $364,000 this quarter versus the first quarter of 2001.
Merge expects to continue its revenue gains, as well as year-over-year quarterly growth of approximately 30%, according to the company. It also said it anticipates a nominal increase in operating expenses consistent with its financial plan due to an increase in sales, marketing, and professional service resources.
By AuntMinnie.com staff writers
April 25, 2002
Related Reading
Merge bids to acquire eFilm, April 17, 2002
Merge unveils MergeNet, February 28, 2002
Merge posts record Q4, February 21, 2002
Merge adds Shands to premier partner program, January 23, 2002
Merge releases ImageChannel, November 6, 2001
Copyright © 2002 AuntMinnie.com
