Merge reports decline in revenue for second quarter, six-month results

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Merge Technologies, d.b.a. Merge Healthcare, has reported its financial results for the second quarter and six month periods ended June 30, 2007.

For the second quarter ended June 30, 2007, revenue totaled $14 million compared to $31.4 million in the second quarter ended June 30, 2006, and $15.9 million in the first quarter ended March 31, 2007, representing a 55 percent and a 12 percent decrease, respectively. Revenue for the second quarter of 2006 included $11.6 million of revenue from contracts signed in previous quarters for which the revenue had been deferred due to delays in delivery of the required product functionality until the second quarter of 2006.

The net loss for the second quarter of 2007 totaled $10.7 million compared to a net loss of $211 million in the second quarter of 2006 and a net loss of $9.7 million in the first quarter of 2007.

For the six months ended June 30, 2007, revenue totaled $29.9 million compared to $47.6 million in the six months ended June 30, 2006, a decrease of 37 percent. Operating loss for the six months ended June 30, 2007 was $20.9 million compared to an operating loss of $217.4 million for the six months ended June 30, 2006. The net loss for the first six months of 2007 totaled $20.5 million compared to a net loss of $216.3 million for the first six months of 2006.