Alliance Imaging increases revenues and earnings in 1Q

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Growth in positron emission tomography revenues helped Alliance Imaging Inc. add to revenues in the first quarter.

Revenues increased 3 percent to $105.6 million, compared with $102.7 million in the first quarter of 2003. Net income rose to $6.9 million, compared with $4.5 million in the year-ago quarter.

Alliance Imaging Chairman and CEO Paul S. Viviano said the medical imaging services providers "made progress in its effort to stabilize Alliance's core shared-service MRI business."

The company's PET business in the first quarter increased 49 percent over the first quarter of 2003.

Viviano added that Alliance's free-standing imaging center initiative also "is gaining momentum," with one MR imaging center opening in the first quarter and two to three additional centers scheduled to open in the second quarter.

Alliance operates nine MR imaging centers as of the end of the first quarter.