With an increase in reading volume of 17%, teleradiology services provider Virtual Radiologic of Minneapolis reported a 9% increase in its third-quarter revenue, although the company's net profit slipped.
For the period ending September 30, the firm generated revenue of $31.6 million, compared with $29 million for the same quarter in 2008. The company ascribed the increase to 18% growth in the numbers of hospitals served -- to 1,154, which represents approximately 19% of all hospitals in the U.S.
The company posted net income of $3 million for the most recent period, compared with net income of $3.6 million in the same period the year before.
Looking ahead, Virtual Radiologic anticipates meeting its revenue projections ranging from $118 million to $120 million, which are unchanged from previous estimates.
Related Reading
Virtual Radiologic upgrades software for PDAs, October 19, 2009
Virtual Radiologic turns in strong Q2, July 28, 2009
Virtual Radiologic posts Q1 sales growth, April 28, 2009
FDA OKs Virtual Radiologic PACS product, April 13, 2009
Virtual Radiologic taps new CEO, January 27, 2009
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