The parent company of teleradiology services provider NightHawk Radiology Services, NightHawk Radiology Holdings, reported strong revenue growth in the company's first quarter of 2006 (end-March 31).
For the period, NightHawk posted revenues of $20 million, up 53% compared with sales of $13.1 million in the first quarter of 2005. The Coeur d'Alene, ID-based firm's net loss under generally accepted accounting principles (GAAP) basis was $41.3 million, due in large measure to a one-time charge of $44.2 million resulting from a change in the fair value of the conversion feature in the company's redeemable preferred stock. The company had GAAP net income of $791,000 in the same period of 2005.
Excluding the one-time charge, NightHawk posted adjusted net income of $3.9 million for the most recent quarter, compared with adjusted net income of $2.6 million in the same period of 2005.
By AuntMinnie.com staff writers
May 5, 2006
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NightHawk Radiology shows revenue uptick in 2005, March 9, 2006
NightHawk Radiology prices IPO, February 9, 2006
NightHawk Radiology buys telerad firm, October 31, 2005
NightHawk readies IPO, October 6, 2005
NightHawk raises $25 million, April 7, 2004
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