Monday, Clinical and medical imaging software provider Merge Healthcare Incorporated. (MRGE) reported a second-quarter net loss that widened from the year-ago quarter due to trade name impairment and restructuring expense.
Milwaukee, Wisconsin-based company reported a loss for the second quarter of $18.20 million or $0.45 per share, wider than net loss of $10.74 million or $0.32 per share in the corresponding quarter last year. The wider second quarter loss was attributed to trade name impairment, restructuring and other expense of $10.70 million compared with $0.21 million in the prior-year quarter. However, Adjusted operating loss for the second quarter narrowed to $0.64 million from $5.59 million in the year-ago period.
Total net sales for the quarter declined marginally to $13.32 million from $14.04 million in the corresponding period last year.
For the six-month period, net loss was $26.03 million or $0.70 per share wider than net loss of $20.46 million or $0.60 per share in the corresponding period last year. The wider loss was attributed to trade name impairment, restructuring and other expense of $12.06 million compared with $1.0 million in the year-ago period. Total net sales decreased to $27.06 million from $29.91 million in the last year.
Adjusted operating loss stood at $4.48 million compared with $10.35 million in the corresponding period last year.
Merge Healthcare closed Monday's regular trading at $1.09, on a volume of 107,042 shares on the Nasdaq. In after-hours trading, the stock lost $0.09.
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