Teleradiology services provider Virtual Radiologic of Minneapolis saw both its revenue and net income grow in the fourth quarter of 2009 (end-December 31), as its read volume of imaging exams grew at a double-digit rate.
For the period, Virtual Radiologic posted revenue of $29.9 million, up 6% compared with revenue of $28.3 million in the fourth quarter of 2008. The firm's net income was $1.1 million, compared with net income of $894,000 in the corresponding quarter of the previous year.
For the year, the company turned in sales of $120.7 million, up 13% compared with sales of $106.6 million in 2008. The company's net income for the full year was $7.9 million, compared with net income of $8.5 million in 2008.
Read volumes grew 16% to 687,000 exams in the fourth quarter, according to Virtual Radiologic, and were up 21% to 2.7 million exams for the full year, despite the challenging economic environment.
Related Reading
Virtual Radiologic completes PACS swap-out, December 17, 2009
Virtual Radiologic grows Q3 sales, October 27, 2009
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
Copyright © 2010 AuntMinnie.com
