BOSTON, MA-- AMICAS, Inc. (Nasdaq: AMCS), an image and information management solutions company, reported unaudited financial results for the third quarter ended September 30, 2009.
Q3 Financial Highlights
Revenue: Total revenue for the third quarter of 2009 was $27.2 million, compared to total revenue of $12.3 million for the third quarter of 2008. The Company's non-GAAP revenue for the third quarter of 2009 was approximately $28.3 million, which includes $1.1 million in revenue that was not recognized under GAAP due to purchase accounting treatment related to the Company's acquisition of Emageon Inc in the second quarter of 2009.
Operating Income/Loss: Operating income for the third quarter of 2009 was $0.4 million, compared to an operating loss of $(1.2) million for the third quarter of 2008. Non-GAAP operating income for the third quarter of 2009 was $2.6 million.
Adjusted EBITDA: The Company's adjusted EBITDA for the third quarter of 2009 was $4.9 million, compared to adjusted EBITDA of $87,000 for the third quarter of 2008.
Net Income/Loss: The Company's net income for the third quarter of 2009 was $1.7 million, or $0.05 per share, compared to a net loss of $(809,000), or $(0.02) per share, for the third quarter of 2008.
Cash and Cash Flow: AMICAS ended the third quarter of 2009 with a cash, cash equivalents, and marketable securities balance of $40.2 million and working capital of $26.0 million. AMICAS generated $4.4 million of cash from operations in the third quarter of 2009, and, year-to-date, has generated $5.0 million of cash from operations.