RadNet earnings slip, volume rises

Revenues edged up 2% for Radnet in the third quarter over the year earlier period, but the national provider of outpatient diagnostic imaging services recorded a loss in the quarter compared to positive earnings in 3Q 2008. For the three months ended Sept. 30, 2009, RadNet reported revenue of $133.4 million versus $130.9 million in 3Q 2008 and a loss of $1.7 million compared with net income of $138,000. On a same-center basis, including only centers that were part of RadNet for both the third quarters of 2009 and 2008, MRI volume increased 5.4%, CT volume increased 4.0%, and PET/CT volume increased 4.3%. Overall same-center volume, taking into account routine imaging exams, inclusive of x-ray, ultrasound, mammography and other exams, increased 3.2% over the same quarter in the prior year.