The parent company of teleradiology services provider NightHawk Radiology Services, NightHawk Radiology Holdings, reported its fiscal 2005 fourth-quarter and full-year (end-December 31) results.
For the fourth quarter, revenue increased 59% to $18.5 million, compared with $11.6 million for the fourth quarter of 2004, according to the Coeur d'Alene, ID-based firm. Net losses under generally accepted accounting principles (GAAP) for the period were $9.1 million, compared with a GAAP net loss of $26,000 for the same period the prior year.
Net losses for the 2005 fourth quarter included an $11.6 million charge resulting from a change in the fair value of the conversion feature in the company's redeemable preferred stock, NightHawk said.
For the 2005 fiscal year, revenue increased 63% to $64.1 million, compared with $39.3 million for fiscal 2004, the company said.
Net loss under GAAP for the full-year 2005, which included a $39.7 million charge resulting from the change in the fair value of the conversion feature in the company's redeemable preferred stock, was $36.5 million, compared with GAAP net income of $2.6 million in 2004.
By AuntMinnie.com staff writers
March 9, 2006
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