Revenue Tops $45 Million Reflecting 79% Growth Over Prior Year Quarter;
Company Revises 2007 Guidance and Reaffirms 2008 Guidance
COEUR D'ALENE, Idaho, Oct. 30 /PRNewswire-FirstCall/ -- NightHawk Radiology Holdings, Inc. (Nasdaq: NHWK), the leading provider of radiology solutions to radiology groups across the United States, today announced financial results for its third quarter ended September 30, 2007. Revenue grew 79% year-over-year to a record $45.2 million in the third quarter of 2007 from $25.2 million in the third quarter of 2006. Excluding the impact of acquisitions, the company experienced significant year-over-year organic revenue growth of 24%. The company also achieved strong adjusted EPS growth of 24% in the third quarter, while making significant investments in acquisitions, infrastructure, and management necessary to enhance its platform for future growth.
-- Third quarter 2007 revenues grew 79% to $45.2 million from $25.2
million in the third quarter 2006. Third quarter 2007 scan volumes
grew 70% to an all-time high of 787,673 scans compared with 463,028
scans in the third quarter 2006.
-- Organic revenue grew 24% year-over-year and organic scan volume grew
-- For the nine months ended September 30, 2007, cash flow from
operations grew 20% to $17.5 million from $14.6 million for the same
period in 2006.
-- New service offerings, primarily daytime final reads and business
services, represented 18% of total revenue for the quarter and 12% of
total year-to-date revenue.
-- Adjusted net income grew to $8.0 million, or $0.26 p
|SOURCE NightHawk Radiology Holdings, Inc.|
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