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Stock Alert: RadNet Spikes 15% On Quarterly Results, Outlook

Shares of diagnostic imaging services company RadNet, Inc. (RDNT) are climbing more than 15% Monday morning on better-than-expected fourth-quarter results. The company also provided full-year revenue outlook, better than the Street view.

RadNet reported net Income for the fourth quarter of $6.0 million, or $0.11 per share compared with $10.4 million, or $0.21 per share in the same quarter a year ago.

Excluding items, adjusted earnings of $0.20 per share beat the average estimate of analysts polled by Thomson Reuters at $0.15 per share.

Revenue for the quarter increased to $308.5 million from $300.84 million last year. The consensus estimate was for $300.63 million.

Looking forward to FY2021, the company expects revenue in the range of $1.25 billion - $1.3 billion. Analysts expect the company to report revenue of $1.22 billion for the period.

RDNT touched a new 52-week high of $22.25 this morning.

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