Treatment center operator Radiation Therapy Services reported second-quarter total net revenues of $42.1 million, an increase of 13.7% compared with the $37.1 million posted in the same quarter of 2003. For the period (end-June 30), the Fort Myers, FL-based vendor had a net loss of $9.4 million, compared with net income of $7.7 million a year ago.
Radiation Therapy Services said that second-quarter profitability was impacted by a noncash income tax expense of $17.6 million relating to the firm's conversion from a Subchapter S corporation to a C corporation in conjunction with the company's June initial public offering (IPO). During the quarter, Radiation Therapy Services said that 1,054 external-beam treatments were performed per day at its 42 freestanding centers, a 15.8% increase from the second quarter of 2003.
By AuntMinnie.com staff writers
August 6, 2004
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