NightHawk Radiology Holdings reported a growth in revenue and net income for its fourth quarter 2007 financial results, which ended Dec. 31, 2007.
For the quarter, the Coeur, d'Alene, Idaho-based company’s revenue climbed 77 percent to $42.7 million, compared to $24.1 million in same quarter last year. Fourth quarter 2007 scan volumes grew 63 percent to 730,992 scans compared with 448,084 scans in the fourth quarter 2006, NightHawk said.
New service offerings, primarily daytime final reads and business services, represented 21 percent, or $8.8 million, of total revenue for the quarter, according to the company.
NightHawk booked a net income of $3.1 million, a 41 percent increase compared to $2.2 million in the year-ago quarter.
The company also published updated full-year 2008 guidance for revenue, projecting it to be in the range of $195-$205 million.
"Although our business continues to remain fundamentally strong, we believe it is prudent to adjust our 2008 guidance at this time in order to properly guide the investment community." said Paul Berger, MD, chairman and CEO, NightHawk.
In other company news, NightHawk appointed Mark Kleinschmidt as senior vice president of sales.
Kleinschmidt, who has more than 20 years experience in the radiology industry, joined the company through its acquisition of Midwest Physician Services, in July 2007.
Prior to joining NightHawk, Kleinschmidt had been the CEO of St. Paul Radiology for nine years. Prior to his role at St. Paul, he spent many years as a consultant to radiologists and radiology groups.