Merge Technologies post double-digit revenue growth in first quarter
Merge Technologies Inc. (Merge eFilm) achieved a 41 percent gain in revenues in the first quarter.
Net sales advanced to $8.6 million, compared with $6.1 million in the first quarter of 2003. Net income also headed north to $1.35 million, compared with $1.31 million in the year-ago quarter.
Merge President and CEO Richard A. Linden credited the "integration of RIS Logic, the market adoption of our Fusion RIS/PACS and corresponding emphasis on North American direct sales" as a few reasons for the revenue growth.
During the first quarter, Merge closed 17 new Fusion RIS, PACS or RIS/PACS contracts, increasing the number of Fusion customers to 143, representing more than 290 healthcare facilities.
In its report, Merge also reaffirmed its expectations that revenues in 2004 will increase by 30 percent to 35 percent over 2003 to $37.5 to $39.5 million.
Net sales advanced to $8.6 million, compared with $6.1 million in the first quarter of 2003. Net income also headed north to $1.35 million, compared with $1.31 million in the year-ago quarter.
Merge President and CEO Richard A. Linden credited the "integration of RIS Logic, the market adoption of our Fusion RIS/PACS and corresponding emphasis on North American direct sales" as a few reasons for the revenue growth.
During the first quarter, Merge closed 17 new Fusion RIS, PACS or RIS/PACS contracts, increasing the number of Fusion customers to 143, representing more than 290 healthcare facilities.
In its report, Merge also reaffirmed its expectations that revenues in 2004 will increase by 30 percent to 35 percent over 2003 to $37.5 to $39.5 million.