News | July 25, 2007

NightHawk Revenue Grows 66 Percent in 2Q07

July 26, 2007 – NightHawk Radiology Holdings Inc. announced its revenue grew 66 percent to $37.9 million for the second quarter of 2007, ended June 30, 2007, from $22.9 million in the second quarter of 2006. The increase in adjusted net income was affected largely by redundant SG&A expenses, higher physician compensation levels, and interest on a debt facility – all associated with its recent acquisitions of Radlinx, TDS and Midwest Physician Services.

The company experienced robust year-over-year organic revenue growth of 27 percent, in addition to growth in its daytime finals service offering, accounting for 11 percent of revenues in the quarter.

"Looking forward to the remainder of the year, we expect total company revenue for 2007 to be in the range of $155 million to $162 million, which includes the previously announced $8 million to $9 million revenue contribution from the Midwest Physician Services acquisition," said Tim Mayleben, NightHawk's President and Chief Operating Officer. "Furthermore, we expect adjusted earnings per diluted share (excluding certain non-cash items described below) for 2007 to be in the range of $0.94 to $0.98, which includes an additional $0.01 to $0.02 from the Midwest Physician Services acquisition."

The company also provided a preliminary outlook for 2008 of $215 million to $225 million in revenue and $1.31 to $1.36 in adjusted earnings per diluted share.

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