A 5% increase in volume helped imaging services provider RadNet of Los Angeles grow revenue in the second quarter (end-June 30), while expenses added to the company's net loss.
Revenue increased 6% in the second quarter to $139 million, compared with $131.2 million in the second quarter of 2009. The company posted a net loss of $11.8 million, compared with a net loss of $400,000 in last year's second quarter.
For the six-month period, revenue advanced 1.5% to $263 million, compared with $259 million in the same period of 2009. RadNet also reported a year-to-date net loss of $15.9 million, compared with a net loss of $1.2 million in the same period a year ago.
RadNet blamed the increased net losses on no-cash expenses and nonrecurring items, including a $9.9 million loss on the payment of debt in the second quarter.
Related Reading
RadNet buys NY and NJ facilities, April 28, 2010
RadNet refinances corporate debt, April 7, 2010
RadNet begins turnaround in Q4, March 16, 2010
RadNet grows revenues, posts loss in Q3, November 10, 2009
RadNet grows revenue, trims loss, August 12, 2009
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