Merge Healthcare posts losses for Q4, slight gains for FY09
Health IT company Merge Healthcare has reported net losses for its fourth quarter of 2009, despite pulling into the black for the 2009 fiscal year.
The company posted net losses of $2.1 million in the fourth quarter of 2009, compared with a net income $1.9 million in the fourth quarter of 2008. Its net sales for the 2009 fourth quarter were $19.3 million, compared with the previous year’s fourth-quarter net sales of $15.1 million.
For its 2009 fiscal year, the net income was $300,000, a strong recovery compared with a net loss in the 2008 fiscal year of $23.7 million, according to the Milwaukee-based company, which was bolstered by higher sales. For 2009, its net sales were $66.8 million, compared with $56.7 in the previous year.
“Merge Healthcare ended 2009 as a much different company than it started the year,” said Justin Dearborn, Merge CEO. Dearborn said that the company broadened its IT market lines while not abandoning the imaging market.
The company posted net losses of $2.1 million in the fourth quarter of 2009, compared with a net income $1.9 million in the fourth quarter of 2008. Its net sales for the 2009 fourth quarter were $19.3 million, compared with the previous year’s fourth-quarter net sales of $15.1 million.
For its 2009 fiscal year, the net income was $300,000, a strong recovery compared with a net loss in the 2008 fiscal year of $23.7 million, according to the Milwaukee-based company, which was bolstered by higher sales. For 2009, its net sales were $66.8 million, compared with $56.7 in the previous year.
“Merge Healthcare ended 2009 as a much different company than it started the year,” said Justin Dearborn, Merge CEO. Dearborn said that the company broadened its IT market lines while not abandoning the imaging market.