RadNet Q2 Profit Rises; Lifts 2014 Revenues Outlook - Quick Facts

(RTTNews) - RadNet Inc. (RDNT) reported that its second-quarter net income attributable to stockholders increased to $5.14 million or $0.12 per share, from $2.69 million or $0.07 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.05 per share. Analysts' estimates typically exclude special items.

Adjusted EBITDA grew to $33.42 million from $30.04 million in the previous year.

Total net revenues for the quarter rose to $179.08 million from $176.52 million in the prior year quarter. Two analysts had consensus revenue estimate of $176.85 million for the quarter.

The company increased its 2014 revenue guidance to a range of $705 million - $735 million from the prior estimate of $700 million - $730 million. Wall Street expected revenues of $700.45 million for 2014. Revenue is Service Fee Revenue, net of contractual allowances plus Revenue under capitation arrangements.

The company also raised its 2014 Adjusted EBITDA outlook to range of $115 million - $125 million from the previous outlook of $112 million - $122 million.