An increase in the number of hospitals and medical facilities on its client list helped grow revenues for teleradiology services provider Virtual Radiologic in 2007.
Revenues for 2007 climbed 59% to $86.2 million, compared with $54.1 million in 2006. The Minneapolis-based company also posted net income of $3.4 million, compared with a net loss of $529,000 in 2006.
In the fourth quarter (end-December 31), revenues advanced 41% to $22.9 million, compared with $16.2 million in the fourth quarter of 2006. Net income was steady at $1.3 million, compared with net income of $1.3 million in the same quarter a year ago.
Virtual Radiologic also noted that it anticipates growth of 33% to 39% in 2008 to achieve revenues between $115 million to $120 million.
Related Reading
Virtual Radiologic hires sales VP, February 12, 2008
Virtual Radiologic goes public, November 15, 2007
Road to RSNA, Teleradiology Services, Virtual Radiologic, November 9, 2007
Road to RSNA, Teleradiology Services, Virtual Radiologic, November 14, 2006
Virtual Radiologic files IPO, August 11, 2006
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