ISG revenues soar to new heights

Sales of diagnostic imaging software to several large medical-device customers and a rise in licensing fees helped boost fourth-quarter and year-end financials to record levels for ISG Technologies. The Toronto-based medical-imaging software developer reported a 30% increase in revenues and a 250% increase in earnings for its fiscal year (end-June 30). Revenues were $32 million (U.S.) in fiscal 1999, up from $24.3 million in fiscal 1998. The company had earnings of $1.2 million, compared with $336,500 last year. Revenues for the quarter were $9.8 million, compared with $6.8 million for the fourth quarter a year ago. Profits for the quarter were $608,000, compared with $135,000 for the same period in 1998.

ISG realized earnings increases in all three of its business units (image management, diagnostic imaging, and image-guided surgery), plus a 62% rise in software license fee generation, according to CEO Michael Greenberg. The enhanced penetration of ISG’s Image Application Platform software in healthcare accounts for the increase in licensing fees, according to ISG.