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Merge Healthcare trades higher on narrower loss

Wed, 11/02/2011 - 9:45am
The Associated Press

Shares of Merge Healthcare, a provider of imaging and other medical software, traded higher Wednesday, a day after the company reported a narrower loss for the third quarter.

Revenue for the period grew 33 percent to $60.1 million, up from $45.2 million in the prior-year period. The company increased sales of its software programs that import medical images into electronic medical records, allowing them to be shared by multiple health care providers.

The increased revenue helped narrow the company's quarterly loss of $ 1 million, or 1 cent per share, compared with $3.5 million, or 6 cents per share, in the prior-year period.

Analysts polled by FactSet expected earnings of 5 cents per share on revenue of $60.4 million.

For the coming year the company expects revenue ranging from $288 to $300 million.

Shares of Merge Healthcare Inc. rose 69 cents, or 11.3 percent, to $6.76 in midday trading.

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