Medical Resources enjoys record income
Imaging services provider Medical Resources said it experiencedrecord financial results for its fourth quarter and year (end-December).Revenues for the year from continuing operations jumped 15% to$52 million, compared to $45.2 million in 1994. Earnings
Imaging services provider Medical Resources said it experiencedrecord financial results for its fourth quarter and year (end-December).Revenues for the year from continuing operations jumped 15% to$52 million, compared to $45.2 million in 1994. Earnings leapedto $4.1 million from a net loss of $1.1 million in 1994.
For the fourth quarter of 1995, the Clifton, NJ, company hadnet income of $1.2 million, a company record, on sales from continuingoperations of $13.7 million. In 1994, Medical Resources postednet income of $1 million on revenues of $11.7 million.
The company also announced that it has raised $6.5 millionin debentures that are convertible into common stock at $6 a share.Co-president and CFO Ronald Adamson said the proceeds from theoffering would be used to fund acquisitions, which Medical Resourceshas pursued aggressively (SCAN 11/8/95).