NightHawk Radiology posts preliminary FY results
NightHawk Radiology Holdings, Inc. (Nasdaq: NHWK) reported preliminary fiscal year 2007 results below the consensus on Wall Street due to lower fourth-quarter volumes from greater-than-expected seasonality and a delay in transitioning its former Radlinx physician contracts to the company's compensation model.
For the year ended Dec. 31, 2007, the Coeur d'Alene, Idaho-based small cap said it expects revenue in the range of $151 million to $152 million, below the $153.89 million five analysts polled by Thomson Financial were on average forecasting. The current year’s expected revenue compares with revenue of $92 million in 2006.
Adjusted earnings per share for 2007 are expected to be in the range of $0.90 to $0.91, compared with the consensus of five analysts polled by Thomson Financial of $0.94 per share. Last year, earnings per share were $0.70.
The company excluded a one-time charge of approximately $0.5 million related to the settlement of an acquisition-related legal dispute from its calculation of 2007 earnings per share numbers.
NighHawk provides radiology services to radiology groups and hospitals in the United States.
Shares of NightHawk Radiology (NHWK) slipped 10.81%, or $2.04, to $16.84 at 10:48 a.m. ET. Shares of NightHawk Radiology have been trading in the range of $16.20 and $26.68 for the past 52 weeks.
