NightHawk Radiology Holdings, Inc. Releases Record Third Quarter 20... (2007 strongly and reaffirmed its ...)

NightHawk Radiology Holdings, Inc. Releases Record Third Quarter 2007 Results

Date:10/30/2007

2007

strongly and reaffirmed its 2008 guidance of $215-$225 million in

revenue and $1.31-$1.36 in adjusted earnings per diluted share.

"Our third-quarter results reflect continued solid organic growth and significant progress on integrating recent acquisitions, and we continue to gain traction in our new service offerings," said Dr. Paul Berger, Chairman and Chief Executive Officer. "Our investments in acquisitions, infrastructure, and management in 2007 have positioned us to capitalize on significant future market opportunities and we're very pleased that we've been able to achieve both record revenues and record adjusted earnings per share during this period of investment."

Tim Mayleben, NightHawk's President and Chief Operating Officer, added "We continue to expect outstanding growth for the full year through both organic growth and through the acquisitions we've made." The company revised its guidance to reflect emerging clarity related to projected growth in new service offerings during the latter part of 2007. "The revisions to our guidance continue to reinforce our view of the opportunities that lie ahead for our new service offerings, our outlook for 2008, and our commitment to preserve investments in key initiatives while responding to changes in revenue," said Mayleben.

The company's adjusted net income for the third quarter of 2007 was $8.0 million or $0.26 per diluted share, compared to $6.5 million, or $0.21 per diluted share, during the third quarter of 2006. The company's adjusted net income excludes certain non-cash charges related to stock compensation, amortization of intangibles, and IBNR charges. As expected, the increase in adjusted net income was impacted by redundant SG&A expenses and temporary higher physician compensation levels on acquired entities, combined with acquisition-related interest expense on the company's $100 million debt facility. The company anticipates significant improvement to adjusted
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