Business
RadNet Reports Record Fourth Quarter and Full Year 2019 Results and Releases 2020 Financial Guidance
For the fourth quarter of 2019, RadNet reports Total Net Revenue (“Revenue”) of $300.8 million and Adjusted EBITDA(1) of $46.9 million; Revenue increased
About this update from Radnet, Inc.
[{"type":"text","content":"For the fourth quarter of 2019, RadNet reports Total Net Revenue (“Revenue”) of $300.8 million and Adjusted EBITDA(1) of $46.9 million; Revenue increased 17.0% and Adjusted EBITDA(1) increased 5.5% as compared with the same quarter in 2018 For full year 2019, RadNet reports Revenue of $1,154.2 million and Adjusted EBITDA(1)of $164.1 million; Revenue increased 18.4% and Adjusted EBITDA(1) increased 15.8% as compared with full year 2018 Net Income Attributable to RadNet, Inc. Common Stockholders(“Net Income”) for the fourth quarter was $10.4 million, or $0.21 per diluted share; This compares to an Adjusted Net Income of $4.5 million, or $0.09 per diluted share, in the fourth quarter of 2018, adjusted to exclude a $39.5 million gain from the re-measurement of the Company’s equity interest in New Jersey Imaging Network upon its consolidation and a $19.1 million expense from changes in the organization of east coast and international operations, on a tax-effected basis (“Adjusted Net Income”) For full year 2019, Net Income was $14.8 million, or $0.29 per diluted share; This compares with an Adjusted Net Income of $7.6 million, or $0.16 per diluted share in 2018In the fourth quarter, aggregate volumes increased 5.6% and same center volumes increased 3.3% compared with last year’s fourth quarterRadNet announces 2020 guidance ranges, anticipating increases in Revenue, Adjusted EBITDA(1) and Free Cash Flow LOS ANGELES, March 12, 2020 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services through a network of 335 owned and/or operated outpatient imaging centers, today reported financial results for its fourth quarter and full year ended December 31, 2019.\n Financial Results Fourth Quarter Report: For the fourth quarter of 2019, RadNet reported Revenue of $300.8 million and Adjusted EBITDA(1) of $46.9 million. Revenue increased $43.6 million (or 17.0%) and Adjusted EBITDA(1) increased $2.4 million (or 5.5%) from the fourth quarter of 2018. Net Income for the fourth quarter of 2019 was $10.4 million, or $0.21 per diluted share. This compares to an Adjusted Net Income of $4.5 million, or $0.09 per diluted share, in the fourth quarter of 2018. These per share values are based upon a weighted average number of diluted shares outstanding of...