Lower scan volume had an adverse effect on revenue for NightHawk Radiology Services of Coeur d'Alene, ID, in the first quarter of 2009 (end-March 31).
The teleradiology services provider posted revenue of $38.8 million, down 7% from $41.7 million in the first quarter of 2008. Adjusted net income declined by 3% to $4 million, compared with $4.2 million in the same quarter a year ago.
At the heart of the results is a 3% decrease in scan volume, to 722,321 exams in the first quarter of 2009, compared with 745,075 exams in 2008's first quarter.
NightHawk noted that it expects scan volume and revenue in the second quarter of 2009 to increase sequentially from the first quarter of 2009, with revenue in the range of $39 million to $41 million.
Related Reading
NightHawk expands into Canada, December 9, 2008
Berger leaves as NightHawk Radiology's CEO, November 19, 2008
NightHawk OKs stock buyback, July 8, 2008
NightHawk completes tender offer, June 20, 2008
NightHawk names Sankaran as CFO, May 20, 2008
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