NightHawk makes big gains in Q2

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For the Q2 2006, NightHawk Radiology Holdings has reported revenues that increased 49 percent to $22.9 million compared with $15.3 million for Q2 of 2005. Also during the second quarter, same-site volumes grew 10 percent over those seen in Q1 2006 and 14 percent from the second quarter of 2005, according to a company release.

Operating income for Q2 2006 was $7.5 million compared to $2.5 million in the second quarter of 2005, an increase of 196 percent. Excluding the effects of non-cash stock compensation charges, operating income rose 54 percent to $8.6 million for Q2 of 2006 compared to $5.6 million for the same quarter in 2005.

The company's adjusted net income for the second quarter of 2006 was $5.7 million representing a 74 percent increase over Q2 2005 adjusted net income of $3.3 million. GAAP net income for Q2 2006 was $5.0 million, compared with a GAAP net loss of $8.8 million for Q2 of 2005, which included a $10 million non-cash charge associated with the conversion feature of the company's redeemable preferred stock.