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Stock impact report

RadNet Reports Second Quarter Financial Results

RadNet, Inc (RDNT)  More Company Research Source: GlobeNewswire
Last radnet, inc earnings: 3/12 06:00 am Check Earnings Report
US:NASDAQ Investor Relations: radnet.com/about-radnet/investor-relations
PDF As a result of taking immediate expense and cash savings measures to react to the impact of COVID-19 on patient volume, RadNet finished the quarter with a cash balance exceeding $84 million and was undrawn on its $137.5 million revolving line of creditRadNet has re-opened 77 of the 102 facilities temporarily closed because of COVID-19Procedural volumes have returned to approximately 90% of pre-COVID-19 per day volumes, from a low point in mid-April of 28% of pre-COVID-19 per day volumesFor the quarter, and as a result of COVID-19, Revenue decreased 34.1% to $190.6 million in the second quarter of 2020 from $289.1 million in the second quarter of 2019Adjusted EBITDA(1) decreased 47.6% to $22.6 million in the second quarter of 2020 from $43.1 million in the second quarter of 2019 Adjusted diluted loss per share was $(0.16) in the second quarter of 2020, as adjusted on a tax-effected basis for the non-cash change in the fair value of an interest rate hedge, as compared with diluted earni [Read more]
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