News | February 12, 2009

Merge's Q408 Sales Near 2007 Figures

February 12, 2009 - Merge Healthcare reported fourth quarter net sales totaled $15.1 million, compared to $15.6 million in the fourth quarter of 2007 and $14.6 million in the third quarter ended September 30, 2008.

Operating income for the fourth quarter was $3.7 million, compared to an operating loss of $8.5 million in the fourth quarter of 2007 and operating income of $1.3 million in the third quarter of 2008.

Net income for the fourth quarter of 2008 was $1.9 million, or $0.03 earnings per basic and diluted share, compared to a net loss of $9.5 million, or $0.28 loss per basic and diluted share, in the fourth quarter of 2007 and a net income of $0.4 million, or a $0.01 earnings per basic and diluted share, in the third quarter of 2008. Net income for the fourth quarter of 2008 includes a non-cash charge of $1.4 million due to the impairment of certain equity investments.

During the fourth quarter of 2008, the cash balance increased by $3.4 million to $17.8 million at December 31, 2008. In addition, deferred revenue increased by $1.0 million to $16.8 million at December 31, 2008.

"These results show continued positive progress on our turnaround efforts at Merge," according to Justin Dearborn, CEO of Merge Healthcare. "They also indicate our ability to function profitably in a very challenging market.”

For more information: www.merge.com

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