RadNet (RDNT) Tops Q4 EPS by 2c, Beats on Revenues; Offers FY18 Revenue Outlook Above Consensus

March 8, 2018 6:10 AM

Note: EPS may not be comparable

RadNet (NASDAQ: RDNT) reported Q4 EPS of $0.13, $0.02 better than the analyst estimate of $0.11. Revenue for the quarter came in at $235.6 million versus the consensus estimate of $228.46 million.

Dr. Berger noted, “We are optimistic about 2018. First, Medicare rates for 2018 are commensurate with 2017 reimbursement. Second, we expect to benefit from some of the capital expenditures, infrastructure investments and acquisitions we made during 2017. Third, in 2018, we have launched the MemorialCare joint venture and expect to expand other joint ventures we currently operate on both costs. Fourth, we expect additional Revenue in 2018 from our continued adoption of 3D breast imaging. Fifth, we expect to continue to benefit from the migration of services from hospital settings to the outpatient marketplace. Lastly, we anticipate an ongoing earnings benefit from a significant reduction in our overall effective tax rate from the Tax Cut and Jobs Act of 2017. It should also be noted that we are anticipating spending less on capital expenditures in 2018 than we did during the last two fiscal years as a result of having substantially completed the upgrade of our x-ray systems and the transition to 3D mammography.”

GUIDANCE:

RadNet sees FY2018 revenue of $950-975 million, versus the consensus of $931.59 million.

For earnings history and earnings-related data on RadNet (RDNT) click here.

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