Diagnostic imaging center operator RadNet posted fiscal 2007 second quarter results (end-June 30) demonstrating growth in revenues and income for the period.
The Los Angeles-based business reported revenue of $107 million, a robust increase compared with the $40.4 million booked for the same period last year. The company saw net income of $1.3 million for the second quarter, a sharp turnaround compared with a net loss of $568,000 in the prior year period.
Dr. Howard Berger, RadNet president and CEO said that the firm’s performance this quarter validates the strength of its multi-modality, regionally concentrated approach. He said that RadNet sees many expansion opportunities and strongly feels that the company and the industry as a whole will benefit from further consolidation.