Organic growth as well as gains from acquisitions helped propel teleradiology services provider NightHawk Radiology Services to a 61% increase in first-quarter revenue.
For the period (end-March 31), the Coeur d'Alene, ID-based firm had revenue of $41.7 million, up from $25.9 million in the first quarter of 2007. NightHawk had an adjusted net income of $4.2 million, down from $5.8 million a year ago.
Profitability was affected by professional services expenses and higher SG&A spending, including nonrecurring costs of $1.1 million and $2.2 million in acquisition-related interest expense on the company's debt facility, NightHawk said. First-quarter scan volume reached 745,000 studies, up 54% compared with the 484,000 scans read in the same period last year.
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