Meditech reports $493M in year-end revenue, up 1% from 2018

Jackie Drees - Print  | 

Meditech posted $493 million in revenue for full-year 2019, according to the company's recent filing with the U.S. Securities and Exchange Commission.

Five things to know:

1. Meditech reported $493.8 million in combined product and service revenue for full-year 2019, up 1.2 percent from $488.2 million in 2018.

2. The company posted $162 million in product revenue in 2019, a 1.8 percent decrease from $165 million last year. Meditech said the reduction was due to initial implementation delays.

3. Meditech attributed its 2.8 percent increase in service revenue to more customers being live in 2019. The company reported $331.9 million in this year, up from $322.7 million in 2018.   

4. Meditech posted a net income of $180.2 million for 2019, up from $56.2 million last year.

5. The company reported $429.4 million in operating expenses in 2019, up 1.4 percent from $423.4 million in 2018.

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