A 10% gain in medical oncology revenue in the fourth quarter (end-December 31) helped boost 2008 growth for radiation therapy center operator US Oncology of Houston.
In the fourth quarter, the company posted revenue of $842.7 million, compared with $771.6 million in the fourth quarter of 2007. Net income increased to $500,000, compared with $300,000 in the previous year's fourth quarter.
For the year, revenue increased 10% to $3.3 billion, compared with $3 billion in 2007. A noncash charge of $380 million for impairment of goodwill in the first quarter of 2008 resulted in a net loss of $370.5 million last year, compared with net income of $7.2 million in 2007.
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