QuadraMed posts increased Q2 revenues

By AuntMinnie.com staff writers

August 11, 2008 -- Healthcare IT firm QuadraMed of Reston, VA, has announced increased second quarter (end-June 30) revenues.

The company recorded revenues of $38.0 million for the quarter, compared with $34.4 million for the same period last year, an increase of 10.5%. For the six months ended June 30, revenues increased 15.3% to $73.3 million, from $63.6 million for the comparable 2007 period. QuadraMed attributed the increase to the addition of the acquired QCPR product to its portfolio, resulting from the integration of the computerized patient record (CPR) business assets during the fourth quarter of 2007.

QuadraMed also reported a net income of $400,000 for the quarter and a net loss of $700,000 for the six months ended June 30. This is compared to net income of $900,000 and $2.2 million for the corresponding periods in 2007.