Imaging services provider RadNet of Los Angeles reported financial results for its fourth quarter and full year (end-December 31) that show the company's revenue rising even as its net loss grows.
For 2007, RadNet posted adjusted revenue of $434.4 million, up 4.3% compared with adjusted revenue of $416.5 million in 2006. The adjusted numbers include revenues from imaging chain Radiologix, which RadNet acquired in July 2007. The company posted a net loss of $18.1 million for the year, compared with a net loss for the fiscal year ending October 31, 2006, of $6.9 million.
For the fourth quarter, RadNet reported adjusted revenue (including Radiologix's contribution) of $110.9 million, up 18.7% compared with $93 million in the same quarter of the previous year. The net loss for the fourth quarter was $11.7 million, compared to a net loss of $11 million for the two-month period ending December 31, 2006.
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