Teleradiology services provider NightHawk Radiology Holdings reported record fiscal 2006 year-end revenues and strong fourth-quarter sales.
For the fourth quarter (end-December 31), Coeur d'Alene, ID-based firm posted sales of $24.1 million, up 30% compared with the $18.5 million reported in the fourth quarter last year. Net income for the period was $2.2 million, compared with a net loss of $9.1 million for the fourth quarter of 2005.
For the 2006 fiscal year, the firm posted total revenues of $92.2 million, a 44% surge compared with the $64.1 million recorded in 2005.
The firm recorded a generally accepted accounting principles (GAAP) net loss of $28.5 million, an improvement compared with a GAAP net loss of $36.5 million posted for fiscal 2005. NightHawk noted that its net losses for 2006 includes a first quarter noncash charge of $44.2 million associated with the conversion feature of the company's redeemable preferred stock and a $100,000 noncash charge related to redeemable preferred stock.
By AuntMinnie.com staff writers
February 16, 2007
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