Merge Healthcare Swings to Loss

Shares fall some 18%.
Author:
Publish date:

Merge Technologies

(MRGE)

shares were trading some 18% lower Friday, a day after the medical imaging software and services company posted a third-quarter loss.

Merge reported a loss of $10.8 million, or 32 cents a share, on $14 million in net sales. In last year's third quarter, the company posted net income of $9.6 million, or 28 cents a share, on $35 million of net sales.

The results fell short of the Thomson First Call analyst estimates, which called for a net loss of 7 cents a share on $20 million in revenue.

The company's cash balance as of Sept. 30 was $52.2 million, a decrease from $60.7 million as of June 30.

Shares were lower by $1.39 at $6.35 in late-afternoon trading Friday.