Alliance Imaging sees income slip in Q1

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Alliance Imaging, a provider of diagnostic imaging services, reported a dip in net income for its financial results for the first quarter of 2008, which ended March 31.

Revenue for the first quarter of 2008 increased 8.9 percent to $119.1 million from $109.4 million in the first quarter of 2007, according to the company.

The company reported that its net income was $3.4 million in the quarter, compared to $5.67 million in the same quarter in the previous year.  

Alliance said its adjusted EBITDA was $43.6 million in both the first quarter of 2008 and 2007. The company said its net debt, defined as total long-term debt (including current maturities) less cash and cash equivalents, totaled $549.8 million at March 31, and $549.9 million at Dec. 31, 2007.

“Alliance continues to focus on operating our core business efficiently and making investments in imaging and oncology projects,” said Paul S. Viviano, chairman of the board and CEO of Alliance.