RIS and PACS developer Merge Healthcare reported a sharp increase in revenues for its fiscal 2005 second quarter (end-June 30).
Milwaukee-based Merge said net sales for the quarter were $18.8 million, a robust gain compared with net sales of $8.9 million in the same quarter last year. However, the growth in net sales was tempered with a net loss of $11.9 million for the second quarter, compared with a net profit of $1.5 million in the same period last year.
A substantial portion of the net loss can be attributed to the firm's June 1 acquisition of imaging vendor Cedara Software. As a result, the company is updating its revenue guidance for 2005 to be in the range of $90 million to $95 million for the fiscal year. It also restated its belief that the merger of the firms will deliver accretive pretax cash earnings to shareholders within the first year following the close of the merger.
By AuntMinnie.com staff writers
August 2, 2005
Related Reading
Cedara adds Belgian PACS install, June 23, 2005
Cedara inks molecular software deal, June 22, 2005
Cedara introduces clinical applications, June 20, 2005
Merge changes name to Merge Healthcare, June 10, 2005
Cedara B-CAD nets FDA clearance, June 2, 2005
Copyright © 2005 AuntMinnie.com
