Driven by strong organic revenue growth, teleradiology services provider NightHawk Radiology Holdings posted 66% increase in revenues for its second quarter.
The Coeur d'Alene, ID-based firm had $37.9 million in revenues for the period (end-June 30), compared with the $22.9 million booked in the second quarter of 2006. NightHawk had net income of $3.5 million, compared with net income of $5 million last year.
The income drop was primarily attributed to expenses associated with acquired companies, additional investments related to future growth, and noncash charges, according to the firm.
Looking ahead, NightHawk is raising its 2007 guidance, with revenues now expected to be within the range of $155 million to $162 million. Adjusted earnings per diluted share will be within 94¢ and 98¢ per share. In 2008, NightHawk expects to record $215 million to $225 million in revenue, and $1.31 to $1.36 in adjusted earnings per diluted share.
In other news, NightHawk has hired Michael Karaman as chief information officer (CIO). In his newly created position, Karaman will be responsible for the overall direction and delivery of all information technology systems to support the company and its customers, according to the firm. He comes to NightHawk after serving as senior vice president of technology for Thomson Healthcare.
Also, Tim Mayleben has been promoted to president and chief operating officer (COO). He had been serving as executive vice president and COO since joining NightHawk seven months ago.
By AuntMinnie.com staff writers
July 26, 2007
Related Reading
NightHawk acquires Midwest Physician Services, July 17, 2007
Nighthawk Radiology signs with TeraRecon, May 29, 2007
NightHawk Radiology posts strong Q1, May 3, 2007
NightHawk buys Radlinx, April 8, 2007
NightHawk posts strong year-end growth, February 16, 2007
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