Growth in oncology and radiology revenues contributed to a 5% increase in revenue for Alliance HealthCare Services in its first quarter.
For the period (end-March 31), the provider of radiology, radiation therapy, and interventional services had revenue of $129.9 million, up 5% from the $123.7 million reported for the first quarter of 2016. Revenue growth in radiology (up 2.2%) and oncology (up 15.2%) led the way for Alliance in the quarter. The firm had a quarterly net loss of $600,000, compared with a net loss of $1.2 million for the same period a year ago.
In a statement, Alliance President and CEO Tom Tomlinson said that while overall results were solid, the company experienced same-store volume challenges in its oncology business and in the MRI segment of its radiology segment. However, Alliance saw strengthening as the quarter progressed and the improved pace has continued into April, he said. Alliance remains confident it will deliver 2017 results that are consistent with guidance provided to investors.
