Double-digit growth in its MRI and CT volume buoyed revenue and net income for imaging services firm RadNet in its fourth-quarter and full-year financial report for 2011 (end-December 31).
Revenue in 2011 increased 12% to $619.8 million, compared with $551.8 million in 2010. The company also posted net income of $7.3 million last year, compared with a net loss of $12.7 million in 2010.
MRI volume increased 18% from 2010 to 2011, while CT volume increased 11% in the same year-to-year comparison. Overall volume, including routine imaging exams, as well as x-ray, ultrasound, mammography, and other exams, increased 13% from 2010 to 2011.
Fourth-quarter revenue climbed 13% to $164.8 million, compared with $146.1 million in 2010. Net income advanced to $4.5 million, compared with net income of $3.3 million in the fourth quarter of 2010.
