Radiation therapy provider Radiation Therapy Services of Fort Myers, FL, reported its financial results for the third quarter and nine months (end-September 30), with strong growth in revenues and net income.
Total revenues grew 27% to $40.7 million from the third quarter of 2003. Net income before tax grew 41.8% compared to the same period in 2003. Same-practice revenues increased 13.8% from 2003.
For the third quarter of 2004, Radiation Therapy reported 982 external-beam treatments per day at its 44 freestanding centers, a 20.6% increase from the same period last year.
Total revenues for the third quarter were $40.7 million, an increase of 27% from $32 million in the same quarter of 2003. Net income for the third quarter of 2004 was $2.9 million, compared to third-quarter 2003 net income of $3.4 million.
Total revenues for the nine months ended September 30, 2004 were $125.8 million, an increase of 21.4% over the same period in 2003. Net income for the first nine months of 2004 was $3.8 million compared to $19.7 million for the same period of 2003. Net income for the first nine months of the year includes a $17.6 million no-cash income tax expense in the second quarter of 2004.
By AuntMinnie.com staff writers
November 4, 2004
Related Reading
Radiation Therapy Services completes NJ acquisition, October 19, 2004
New financing for Radiation Therapy Services, October 11, 2004
Radiation Therapy Services buys two NJ centers, September 22, 2004
Radiation Therapy Services prices IPO, June 18, 2004
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