Increases in scan volume helped drive teleradiology services provider NightHawk Radiology Services to a 77% increase in revenue in its fourth quarter.
The Coeur d'Alene, ID-based vendor had fourth-quarter revenue of $42.7 million, up from $24.1 million a year ago. Fourth-quarter scan volumes climbed 63%, from 448,000 scans last year to 731,000 this year, and organic revenue grew 19%. Net income reached $3.1 million, up from $2.2 million a year ago.
For the year, NightHawk posted revenues of $151.7 million, up 65% from the $92.2 million recorded in 2006. Organic revenue grew $21.4 million, or 23%, while acquisitions added an additional $38.1 million in revenue. Net income reached $14.7 million, up from a net loss of $28.5 million a year ago.
For 2008, NightHawk expects revenue will range from $195 million to $205 million, with adjusted earnings per diluted share in the range of $1.10 to $1.20.
In other news, NightHawk has promoted Mark Kleinschmidt to senior vice president of sales. He joined NightHawk following its acquisition of Midwest Physician Services in July 2007.
Related Reading
NightHawk CEO donates to RSNA fund, February 5, 2008
NightHawk participates in HRP Initiative, January 30, 2008
Nighthawk posts preliminary 2007 results, January 29, 2008
Road to RSNA, Teleradiology Services, November 9, 2007
Nighthawk profit slips as revenues boom, October 31, 2007
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