28 Jul Merge eFilm posts steady income, though tax burden soars
Merge eFilm announced Wednesday that its net income for second-quarter 2004 showed a small gain over the same quarter last year. Though its net sales, at $8,907,000, were up 38%, the Milwaukee-based healthcare software company’s bottom line suffered because it paid more than twice as much income tax.
Its profits for the quarter ending June 30 were $1,497,000, up from $1,400,000 a year ago.
Company leadership seemed happy with the improved pre-tax earnings.
“Our financial and operational performance this quarter is a direct result of our strategy to position Merge eFilm as a leader in RIS, PACS and RIS/PACS software and professional services for our target market—imaging centers, small to medium sized hospitals and specialty clinics,” Richard A. Linden, Merge eFilm’s president and CEO, said in a statement.
“We successfully closed 20 new FUSION RIS, PACS and RIS/PACS contracts during the second quarter, growing our total number of FUSION solution customers to 160, representing over 320 healthcare facilities,” he continued.
The company released expectations that revenue will grow at 30% to 35% per year to somewhere around $38 million.
Merge eFilm, founded in 1987, produces software for medical imaging centers and small- to medium-sized hospitals