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MedQuist Reports Results for the Fourth Quarter and 2009
Date:3/12/2010

f $5.5 million or 6.9% as compared to the fourth quarter of 2008.  We grew transcription volumes during the fourth quarter and experienced lower average pricing.

Operating income for the fourth quarter of 2009 was $7.1 million compared to an operating loss in the fourth quarter of 2008 of $79.6 million.  Total operating costs and expenses for the fourth quarter of 2009 were $66.9 million compared to $76.7 million for the same quarter in 2008 (excluding a goodwill impairment charge of $82.2 million).  The decline of 12.8% from 2008 to 2009 is largely the result of cost reduction programs that significantly reduced cost of revenues as well as most other categories of expense.  Cost control and cost reduction programs are ongoing as the Company addresses a very competitive pricing environment for our products and services.  

Net income for the fourth quarter of 2009 was $5.9 million or $0.16 per diluted share compared to a net loss of $60.5 million ($1.61) per diluted share for the fourth quarter of 2008.

Adjusted EBITDA (wh
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