Cost-saving measures began to pay off for imaging services provider RadNet of Los Angeles, as the company posted a profit in the fourth quarter of 2009 (end-December 31).
For the calendar year 2009, the company notched revenue of $524.4 million, up 5% compared with $498.8 million in 2008. The company also decreased its net loss to $2.3 million, compared with a net loss of $12.8 million in 2008.
RadNet also reported record revenue of $131.8 million in the fourth quarter, an increase of 3.4% over $127.4 million in the fourth quarter of 2008. RadNet also posted net income of $637,000, compared with a net loss of $5.3 million in the same quarter of 2008.
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