Expansion of its RIS-PACS product line and sales and marketing activities in North America paid dividends for Merge Technologies Inc. (Merge eFilm) in 2003, as the company achieved record results.
Net sales increased to $28.7 million, compared with $20.8 million in 2002. Net income expanded by 72 percent to $6.2 million, compared with $3.6 million in 2002. The results include almost six months of operations from RIS Logic, Merge's 2003 acquisition.
Merge also credited new business partnerships in the United States, Europe and Japan for its 2003 growth.
The company also projected revenue growth of 30 percent to 35 percent in 2004, which would bring total revenues to a range of $37.5 million to $39.5 million.