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RadNet sales grow, net loss narrows in Q3
 November 11, 2010 -- Los Angeles-based imaging services provider RadNet posted higher revenues and a narrower net loss for the company's third quarter (end-September 30).
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For the period, RadNet recorded sales of $140.1 million, up 5% compared to $133.4 million in the corresponding quarter of 2009. RadNet said the quarterly revenue figure was the highest in the company's history.
The company posted a quarterly net loss of $253,000, compared with a $1.7 million net loss posted in the same period of 2009. The company said that it would have posted net income of $1.8 million were it not for the impact of one-time charges such as interest rate swaps, equipment disposal, and stock compensation expenses.
RadNet said that it experienced growth in the third quarter in revenue; adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA); and procedure volume. Preliminary procedure volume reports from October indicate that the momentum is continuing into the fourth quarter, according to the company.
Related Reading
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