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|Articles|November 8, 1995
Acquisitions boost Alliance growth
Alliance Imaging CEO Richard Zehner is looking for acquisitionsto buttress the Orange, CA, company's claim that it is the nation'slargest mobile MRI and CT fleet. Alliance announced record third-quarter earnings and strong revenueresults on Oct. 17,
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Alliance Imaging CEO Richard Zehner is looking for acquisitionsto buttress the Orange, CA, company's claim that it is the nation'slargest mobile MRI and CT fleet.
Alliance announced record third-quarter earnings and strong revenueresults on Oct. 17, five days after revealing that it had takendelivery of a GE 1-tesla Signa MRI to be deployed on a new routein Missouri.
For the third quarter (end-September), Alliance reported netincome of $1.4 million on revenues of $15.1 million. For the firstnine months of 1995, Alliance earned $3.6 million on revenuesof $44.3 million.
In the third quarter of last year, the company had a net lossof $1.4 million on revenues of $14.2 million. For the first ninemonths of 1994, it posted a net loss of $3.5 million on revenuesof $42.9 million.
Alliance also ended the period with a cash balance of over $10million, which in part is earmarked to buy competing mobile companies,according to Zehner.
"We're actively seeking and evaluating corporate acquisitionsto generate higher profitability and revenues from greater marketshare," he said.
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