US Oncology posts Q2 revenue uptick
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.
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.