Virtual Radiologic Corp., a leading global provider of teleradiology services, has reported financial results for its first quarter ended March 31, 2009.
First Quarter Highlights
- Revenue up 23% to $28.6 million
- Read volume up 30% to 613,000
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- Adjusted EBITDA(1) up 40% to $5.6 million and 20% of revenue
- Adjusted net income(2) of $2.5 million; Adjusted diluted earnings per share(3) (EPS) of $0.15
- GAAP net income of $1.4 million; GAAP diluted EPS of $0.09
- Cash and investments totaled $33.1 million; the Company has no debt
"In an extremely challenging economic environment, we delivered strong revenue growth and improved profitability, which speaks to the strength of our business model," said Rob Kill, Virtual Radiologic's president and chief executive officer. "We believe that continued focus on executing our strategy will enable us to deliver results that create long term shareholder value."
Virtual Radiologic Corporation