InSight posts Q4, year-end downturn

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Diagnostic imaging center operator InSight Health Services Holdings has posted a decline in revenues for both its fiscal 2009 fourth quarter and year-end.

The Lake Forest, Calif.-based company reported that revenues decreased 17.3 percent--from approximately $64.8 million for the fourth quarter of 2008, to approximately $53.6 million for the fourth quarter of 2009, which ended June 30.

On a postive note, InSight trimmed its net losses for the period to approximately $2.4 million, a significant achievement given the approximately $127.8 million in net losses booked in the fourth quarter last year.

For the fiscal year, the firm declared revenues of approximately $229.3 million, a 13.5 percent slide from the approximately $264.9 million it saw in fiscal 2008. The company reported a net loss for the year of approximately $19.8 million, compared with a net profit of approximately $27.1 million for fiscal 2008.

InSight has facilities in more than  30 states, including targeted regional markets in California, Arizona, New England, the Carolinas, Florida and the Mid-Atlantic states.