RadNet, Inc. (RDNT) Tops Q1 EPS by 3c; Boosts FY14 adj.-EBITDA Outlook
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RadNet Reports First Quarter Financial Results and Adjusts Upwards Several 2014 Guidance Ranges
May 9, 2014 6:00 AM EDTDespite an estimated $8-$10 million negative revenue impact from severe weather and Medicare reimbursement cuts, Adjusted EBITDA(1) increased 8.2%, from $25.6 million in the first quarter of 2013 to $27.7 in the first quarter of 2014 Implementation from the previously announced $30 million cost savings initiatives enhanced operating margins Same-center revenue from centers not impacted by the east coast extreme weather conditions increased 4.2% from last year's first quarter Procedural volumes are benefitting from the over 8 million enrollees in state and privately managed health insurance exchanges, including over 1.4 million enrollees in California Completed the refinancing... More
