Meditech's Q2 revenue up 7% from last year: 5 things to know

Meditech released its earnings results for the second quarter of 2018 on July 31.

Here are five things to know about the Westwood, Mass.-based EHR vendor's financial performance:

1. Meditech reported $125 million in revenue for the second quarter, up 7 percent from $116.7 million posted during the same period last year.

2. The company attributed the majority of the quarter's revenue — $80.6 million — to service revenue, down 2 percent from $82.1 million during the second quarter of 2017.

3. Meditech's product segment represented the remainder of the company's revenue, making up $44.4 million during this year's second quarter, up 28 percent from last year.

4. U.S. customers accounted for 86 percent of Meditech's operating revenue. Customers in Canada (12 percent) comprised most of the remainder, with an additional 2 percent attributed to "all others."

5. The company posted $24.1 million in net income, up 66 percent from $14.5 million during the second quarter of 2017.

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