Oncology treatment center operator Radiation Therapy Services (RTS) reported growth in revenue and income in its 2007 second-quarter (end-June 30) results.
The Fort Myers, FL-based firm enjoyed total revenue growth of 37.9%, to $100.1 million, compared to $72.6 million in the second quarter of 2006. Some $15 million of the revenue increase came from new practices or practices RTS has operated for less than a year.
Net patient-service revenue from services RTS bills for directly was $97.6 million, while revenue generated from services for which RTS bills hospitals was $2.5 million.
The company's net income increased 13.2% to $10 million, compared to $8.8 million in the same quarter the previous year. Net cash from operating activities increased 33.8%, from $21.6 million in second quarter of 2006 to $28.9 million in second quarter of 2007.
By AuntMinnie.com staff writers
August 2, 2007
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