Healthcare IT and advanced visualization developer Merge Healthcare posted a profit for its fourth quarter of 2008 (end-December 31), while narrowing its net loss for the year.
For the fourth quarter, revenue decreased slightly to $15.1 million, compared with $15.6 million in the same quarter of 2007. Net income for the quarter was $1.9 million, compared with a net loss of $9.5 million in the same quarter of 2007.
The fourth-quarter 2008 net income includes a noncash charge of $1.4 million due to the impairment of equity investments, the company said.
The Milwaukee-based vendor's annual revenue for 2008 totaled $56.7 million, down 4% from $59.6 million in 2007. The company's net loss for 2008 decreased to $23.7 million, compared with a net loss of $171.6 million in 2007.
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