A decline in both fixed and mobile operations resulted in reduced revenue for InSight Health Services in the company's fourth quarter and fiscal 2009 (end-June 30).
The Lake Forest, CA, imaging services provider posted revenue of $229.3 million in fiscal 2009, down 13% from $264.9 million in fiscal 2008. The company also posted a net loss of $19.7 million in fiscal 2009, compared with net income of $27.1 million in fiscal 2008.
Due primarily to the sale of imaging centers, revenue from fixed operations decreased 17% to $139.3 million in fiscal 2009, compared with $168.8 million in fiscal 2008.
Revenue from mobile operations slid 6% to $90 million in fiscal 2009, compared with $96.1 million in fiscal 2008. InSight attributed the decline to reductions in reimbursement and a decline in customers served.
In the fourth quarter, revenue dropped 17% to $53.6 million, compared with $64.8 million for the fourth quarter of fiscal 2008. InSight reduced its net loss to $2.3 million in the fourth quarter, compared with a net loss of $127.8 million in the same quarter a year ago.
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InSight posts lower Q1 results, November 14, 2008
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