Teleradiology services provider NightHawk Radiology Services experienced a decline in profitability for its third quarter, although the Coeur d'Alene, ID, company saw revenue boom due to both acquisitions and organic growth.
For the period (end-September 30), NightHawk posted revenues of $45.2 million, up 79% compared with $25.2 million in the third quarter of 2006. The company recorded net income of $3.8 million in the latest period, compared with $5.6 million in the same period of 2006.
In addition to the revenue growth from acquisitions, the company said that organic sales grew 24% in the quarter compared to the third quarter of 2006. Net income was impacted by noncash charges related to stock compensation, amortization of intangibles, and incurred but not reported medical liability reserves.
By AuntMinnie.com staff writers
October 31, 2007
Related Reading
NightHawk posts Q2 gains, July 26, 2007
NightHawk acquires Midwest Physician Services, July 17, 2007
Nighthawk Radiology signs with TeraRecon, May 29, 2007
NightHawk Radiology posts strong Q1, May 3, 2007
NightHawk buys Radlinx, April 8, 2007
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