Healthcare IT and advanced visualization developer Merge Healthcare of Milwaukee fell into the red in its fourth quarter of 2009 (end-December 31), despite sharply higher revenues in the period.
For the quarter, Merge posted sales of $19.3 million, up 28% compared to sales of $15.1 million in the same period the year before.
The company posted a fourth-quarter net loss of $2.1 million, compared with net income of $1.9 million in the fourth quarter of 2008. The company said its numbers for the most recent quarter were affected by $3.1 million in interest and early debt retirement costs, as well as expenses of $1 million for acquisitions and $1 million in real estate costs.
For the year, Merge posted revenues of $66.8 million, up 18% compared to $56.7 million for 2008. The company posted net income for 2009 of $300,000, compared with a net loss of $23.7 million in 2008.
The company also noted that its cash balance increased by $2.7 million to $19.6 million as of December 31.
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