QuadraMed's Q3 revenues hold steady

By AuntMinnie.com staff writers

November 14, 2007 -- An increase in government sales helped healthcare IT firm QuadraMed maintain its revenues in the third quarter.

For the period (end-September 30), the Reston, VA-based company posted revenues of $32.9 million, compared with $33 million in the third quarter of 2006. Net income was $1.5 million, compared with $6 million in the same quarter a year ago. QuadraMed blamed the lower profits, in part, on a one-time expense of $1.5 million related to salaries and wages.

For the nine-month period, revenues rose to $96.4 million, compared with $93.9 million in the same period of 2006. Net income declined to $6.3 million, compared with $8 million in the same period a year ago.