Imaging center chain U.S. Diagnostic has released its financial results for the year and quarter ended December 31, 2001. The West Palm Beach, FL, firm reported a net loss of $24.1 million for 2001, as compared to a $32.6 million net loss for 2000. Net revenue for 2001 was $55.9 million, versus net revenue of $127.9 million for 2000.
For the quarter ended December 31, 2001, the company’s net loss was $8.3 million, as compared to an $18.5 million net loss for the same quarter in 2000. Net revenue for the fourth quarter of 2001 was $11.2 million, versus $20.1 million for the fourth quarter of 2000.
U.S. Diagnostic sold and closed 13 imaging centers in 2001, in addition to selling and closing 35 imaging centers in 2000. The company reports that its cash flow remains inadequate to support its operating needs and to service its debt obligations.
By AuntMinnie.com staff writers
April 17, 2002
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