Posts a net loss of $9.1m
InfoLogix, a technology provider of enterprise mobility services for the healthcare and commercial industries, has reported a net loss of $9.1m, or $0.36 per share, for the fourth quarter ended December 30, 2008, compared with a net loss of $1.3m, or $0.05 per share, for the same period of 2007.
Net revenues for the fourth quarter were $26.8m, an increase of 15%, compared to $23.3m for the same period of 2007.
The company has reported a net loss of $13.2m, or $0.52 per basic and diluted share, for the year ended December 31, 2008, compared to a net loss of $3.2m, or $0.13 per basic and diluted share, for the same period of 2007.
Net revenues for the year ended December 31, 2008 were $100.7m, compared to $78.8m in 2007, an increase of $21.9m or 28%.
David Gulian, president and CEO of InfoLogix, said: InfoLogix made great strides in 2008 to continue the transition of its business model focused on the sale of software, consulting, and professional services, and we finished the year with 30% of our revenues driven by these higher margin sales. Although we experienced a net loss in 2008, we realized strong revenue growth in a tough economic environment, and the companies we acquired achieved accelerated revenue growth as a result of our integrated sales force, complementary products, and strong customer relationships.