QuadraMed sees Q2 revenue uptick

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Healthcare technology development firm QuadraMed of Reston, Va., reported an increase in revenues for its 2007 fiscal second quarter (end-June 30) when compared with results for the same period last year.

Revenues of $34.4 million (including a $3.7 million sale of hardware to a single customer), a gross margin of 53 percent and operating expenses of $17 million combined to produce the achieved operating results for the quarter. These are compared with revenues of $32 million, a gross margin of 65 percent and operating expenses of $17.3 million for the same period in 2006.

The company stated that it will report net income of $2.2 million before preferred stock accretion for its 2007 second quarter, a downturn compared with a net income of $3.8 million before preferred stock accretion for the same period in 2006.