Healthcare IT and advanced visualization developer Merge Healthcare nearly doubled revenues in its second fiscal quarter (end-June 30), but the Hartland, WI-based company reported a $30.9 million loss due to charges related to its recent acquisition of Amicas.
For the period, Merge posted sales of $29.0 million, up 88% compared to revenues of $15.4 million in the corresponding quarter of fiscal 2009. The results for the most recent period include sales from Amicas, which Merge acquired in April 2010.
Despite the higher sales, Merge posted a net loss of $30.9 million, compared with net income of $446,000 in the second quarter of fiscal 2009. Merge said the most recent quarter included acquisition and restructuring charges of $5.9 million and a one-time dividend of $14.9 million.
Costs related to the restructuring of the company following the Amicas deal are expected to be fully incurred by the third quarter of 2010, Merge said.
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