Radiologix again lowers expectations

Diagnostic imaging services provider Radiologix of Dallas issued financial guidance for the fourth quarter of 2002 and updated its financial guidance for fiscal year 2002 (end-December 31) to reflect lower procedure volume and service-fee revenues in October and November.

The company attributes the downturn to accelerated competition resulting from the addition of new imaging equipment in its local markets and increased marketing and sales activity by local competitors. Revenues have also been continuously impacted by pre-authorization activity among its payors in the mid-Atlantic (Pennsylvania, Delaware, Maryland, Virginia, West Virginia, and Washington, DC) and Hudson Valley (New York) markets, according to the firm.

The company expects to see projected income growth before interest, taxes, depreciation, and amortization (EBITDA) of $67 million, and service-fee revenue of $285 million for fiscal 2002. The company has deferred giving financial guidance for 2003.

By AuntMinnie.com staff writers
December 19, 2002

Related Reading

Radiologix CEO announces resignation, December 4, 2002

Radiologix lowers expectations, September 25, 2002

Radiologix posts revenue, income gains in Q2, August 2, 2002

Radiologix joins Russell stock indexes, July 10, 2002

Radiologix divulges 2002 financial guidance, June 12, 2002

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