Radiologix losses continue in Q4, 2003

For the 2003 fiscal year (end-December 31), imaging services provider Radiologix reported service-fee revenue of $257 million, a 5.6% decrease compared with $272.2 million reported for the 2002 fiscal year. The company’s net loss for the year was $8 million, compared with net income of $10.8 million for the previous year.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) from continuing operations was $43.4 million for fiscal year 2003, compared with $63.5 million for fiscal year 2002, a decrease of 31.7%. EBITDA from continuing operations as a percent of service-fee revenue was 16.9% for fiscal year 2003, compared to 23.3% for the 2002 fiscal year.

The firm reported fourth-quarter service-fee revenue of $66 million, a decrease compared with $64 million for the fourth quarter of 2002. For the quarter, the Dallas-based company had a net loss of $3 million compared with a net loss of $1.3 million for the same period last year.

EBITDA from continuing operations was $8.9 million for the fourth quarter 2003, another downturn compared with EBITDA of $10.6 million for the fourth quarter 2002.

By AuntMinnie.com staff writers
March 11, 2004

Related Reading

Radiologix amends credit facility with GE, January 9, 2004

Radiologix Q3 continues downturn, November 6, 2003

Radiologix sales, revenue down in Q2, August 7, 2003

S&S inks Radiologix deal, June 2, 2003

Radiologix posts loss in Q1, May 7, 2003

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