RadNet reports positive third quarter

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Diagnostic imaging services operator RadNet turned in upbeat results for the company’s fiscal 2008 third quarter, which ended Sept. 30.

For the period, RadNet reported revenue of $131.7 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $28.2 million; increases of 19.5 percent and 25 percent, respectively over the prior year's quarterly results.

Also on a positive note, third-quarter net earnings were $138,000, compared to a net loss of $2.1 million from the prior year's quarterly results. In addition, the firm noted that third-quarter revenue and adjusted EBITDA are sequential quarterly improvements from its first and second quarter 2008 results

RadNet stated that it is on track to meet or exceed its previously announced 2008 revenue guidance of $470 million to $500 million and is on pace to achieve its adjusted EBITDA guidance of $100 million to $115 million.