Alliance Imaging Q3 income rises 62%

Twitter icon
Facebook icon
LinkedIn icon
e-mail icon
Google icon
Alliance Imaging, a U.S. provider of outpatient diagnostic imaging and radiation therapy services, has reported positive financial results for the 2008 third quarter, which ended Sept. 30.

Revenue for the third quarter of 2008 increased 16.3 percent to $128.1 million from $110.2 million in the third quarter of 2007. Of the $128.1 million, total MRI revenues were $67.6 million in the third quarter of 2008, compared to $65.7 million in the same quarter last year. Total PET and PET-CT revenue increased from $34.5 million in 2007, to $45.4 million in the year-ago quarter, the company said.

For the quarter, Alliance reported its net income rose 62 percent to $6.33 million, compared to $3.95 million in the same quarter last year, the company said.

Adjusted EBITDA increased 18.6 percent to $47.9 million in the third quarter of 2008 compared to $40.4 million in the same quarter a year ago, the company said.

Net debt, defined as total long-term debt (including current maturities) less cash and cash equivalents, totaled $534.6 million at the end of the quarter and $549.9 million at the end of last year, according to the company.

Alliance reported its total long-term debt (including current maturities) decreased to $655.3 million at the close of the 2008 third quarter, from $670.8 million as of Dec. 31, 2007.