An 8% increase in its medical oncology service business helped radiation therapy center operator US Oncology of Houston boost revenues in the third quarter (end-September 30).
Total revenues increased to $821.7 million, compared with $743.8 million in the third quarter of 2007. The company also posted net income of $3.9 million, compared with $2.4 million in the same quarter a year ago.
For the nine-month period, revenues totaled $2.46 billion, compared with $2.23 billion in the same period of 2007. US Oncology posted a nine-month net loss of $371 million, compared with net income of $6.9 million for the same period last year.
The company blamed its nine-month net loss on the reduced utilization of erythropoiesis-stimulating agents and challenging national trends for oncology practices.
Related Reading
RTOG, US Oncology to increase access to clinical trials, October 16, 2008
US Oncology names Smith to VP post, August 26, 2008
US Oncology's Ross to step down as CEO, January 25, 2008
US Oncology posts mixed results in Q2, August 14, 2007
US Oncology postpones Q2 results, August 8, 2007
Copyright © 2008 AuntMinnie.com
