NightHawk Radiology releases decrease in profits for Q3

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NightHawk Radiology Holdings has reported an increase in revenue and a decrease in profit for its third quarter (end-Sept. 30).

The company revenue grew to $45.2 million in the third quarter of 2007 from $25.2 million in the third quarter of 2006.

Based on generally accepted accounting principles, NightHawk reported a net income of $3.8 million for the third quarter of 2007, compared to $5.6 million for the third quarter of 2006.

NightHawk attributes the decrease in net income to redundant selling, general and administrative expenses and temporary higher physician compensation levels on acquired entities, combined with acquisition-related interest expense on the company's $100 million debt facility. Net income was also impacted by higher non-cash charges for stock compensation, incurred but not reported and amortization of intangibles, according to the Coeur d’Alene, Idaho-based firm.