RadNet shows recovery from pandemic impact in Q3

By AuntMinnie.com staff writers

November 10, 2020 -- Imaging services provider RadNet posted slightly lower revenue and higher net income in its third quarter as it continues to recover from the impact of COVID-19 on its operations.

For the period (end-September 30), RadNet had $291.8 million in revenue, down 0.3% from $292.7 million in revenue in the third quarter of 2019. However, revenue was up 53.1% compared with the second quarter, indicating RadNet's recovery from the impact of the pandemic, according to the company. Third-quarter aggregate procedural volume increased by 66.2% compared with the second quarter.

RadNet had net income of $6.2 million, up from $3.2 million in the same period a year ago. Profitability was aided by aggressive cost-containment measures, according to the firm.

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