Financial results: Radnet sees rise in revenue
Diagnostic imaging service provider RadNet reported financial results for its fiscal 2006 and Q4. For the twelve months ended October 31, 2006, the company reported record net revenue of $161.0 million compared to net revenue of $145.6 million in fiscal 2005. Revenue for Q4 was up a bit to $42.5 million, an increase of 6.1 percent from $40.1 million recorded in Q4 fiscal 2005. Radnet said the increase was largely driven new capitation contracts, improved performance from existing capitation contracts and contributions from existing and expanded imaging centers. However, the company reported an overall a net loss of $1.5 million.