US Oncology posts Q2 revenue uptick

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Radiation therapy center operator and cancer services provider US Oncology Holdings reported fiscal 2007 second quarter financial results showing an increase in revenues, although the firm posted a net loss for the period (end-June 30).

For the quarter, the Houston-based company reported revenues of $753.4 million, a 9.3 percent uptick compared with the $689.4 million in revenues in the corresponding quarter last year.

Net loss for the second quarter of 2007 was $400,000 which represents a decrease of $9 million compared with the second quarter of 2006 and an increase of $15.2 million compared with the first quarter of 2007.

The decrease compared with the second quarter of 2006 reflects reductions in income before income taxes of $18.5 million, due to higher interest expense associated with the $175 million of increased borrowings at the end of the first quarter of 2007, the company said.