Amicas posts Q2 revenue uptick, income downturn

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Medical image and information management developer Amicas reported that it saw slight growth in its revenues coupled with a downturn in its net income in unaudited results for its fiscal 2007 second quarter (end-June 30).

The Boston-based firm said that it saw total revenues for the period rise to $12.5 million, compared with $12.2 million in revenues for the same quarter last year. It posted net losses for the second quarter of $480,000, compared with net income of $319,000 realized in the same period a year ago.

In the second quarter of 2007, Amicas said both operating loss and net loss included $510,000 of non-cash stock-based compensation expense and $740,000 of depreciation and amortization. In the second quarter of 2006, both operating income and net income included $455,000 of non-cash stock-based compensation expense and $804,000 of depreciation and amortization.

Amicas said it is reiterating guidance and continues to expect 2007 revenues to be between $51 million and $55 million, with a net loss for fiscal year 2007 between ($0.06) and ($0.01) per share. In addition, it said it expects 2007 bookings growth of about 30 percent.