RadNet Reports Record Second Quarter Financial Results


  • Adjusted EBITDA(1), Income Before Income Taxes and Net Income Per Share are the highest quarterly results in the Company’s history
  • Adjusted EBITDA(1) increased 11.3%, from $30.0 million in the second quarter of 2013 to $33.4 in the second quarter of 2014 
  • Sequentially, as compared to the first quarter of 2014, Total Net Revenue (“Revenue”) increased 6.0%, and Adjusted EBITDA(1) increased 20.9%
  • Earnings Per Share increased from $0.07 per share in the second quarter of 2013 to $0.12 per share in the second quarter of 2014;  Income Before Income Taxes increased $3.8 million (excluding non-recurring gains and losses from the sale of imaging centers and Loss on Early Extinguishment of Debt) over last year’s second quarter
  • Implementation from the previously announced $30 million cost savings initiatives is substantially complete and continues to enhance operating margins; additional cost savings measures are being instituted
  • Aggregate and same-center procedural volumes appear to by aided by the reported over 8 million enrollees in state and privately managed health insurance exchanges, including over 1.4 million enrollees in California
  • 2014 guidance levels for Revenue and Adjusted EBITDA(1) are increased  

LOS ANGELES, California, August 8, 2014 – RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services through a network of 251 owned and/or operated outpatient imaging centers, today reported financial results for its second quarter of 2014.

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Disclosure: I am long on Mannkind.

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