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QHR Technologies has record revenue of $5.1M in Q2; profit at $308,166

Mon, 08/16/2010 - 7:05am
The Associated Press

QHR Technologies Inc. has reported record revenue of $5.1 million for its second quarter, up 90 per cent for the same period last year.

Profit was $308,166 or one cent a share in the quarter ended June 30, compared with a loss of $205,983, or one cent a share, in the same period in 2009, the company said Monday.

Revenue in the same quarter in 2009 was $2.7 million.

President and chief executive officer Al Hildebrandt said 2010 has so far been an "impressive" year of revenue growth for the workforce software management company.

The company's electronic medical records division recorded revenue of $2.5 million, an increase of $1.6 million or 194 per cent, QHR said in a news release.

Its enterprise management software division, which specializes in payroll and human resources applications, had a revenue increase of 17 per cent to $2.6 million.

Shares in QHR were trading at 57 cents, up a penny, on Monday morning on the Toronto Venture Exchange.

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