InSight sees sales and net income climb

March 3, 1999

Imaging services provider InSight Health Services enjoyed higher revenues and net income for its second quarter of fiscal 1999 (end-December). The Newport Beach, CA, company attributed the growth to higher utilization of its services, as well as the

Imaging services provider InSight Health Services enjoyed higher revenues and net income for its second quarter of fiscal 1999 (end-December). The Newport Beach, CA, company attributed the growth to higher utilization of its services, as well as the impact of corporate acquisitions completed last year.

For the quarter, InSight posted sales of $38.9 million, up 33% compared with revenues of $29.1 million in the same period a year ago. The company’s net income for the most recent period was $2 million, compared with a net loss of $4.5 million in the second quarter of fiscal 1998, when InSight incurred a $6.3 million one-time charge.

InSight made four single-center acquisitions in 1998. The company’s largest deal was the purchase of mobile provider Signal Medical Services, which had revenues of $21 million in 1997, the year before it was acquired. InSight executives said that their company will continue to pursue acquisitions in 1999, and that the firm has been in discussions with several candidates. But InSight will follow through only on deals that make sense for the company, the firm said.