XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUE        
Total service revenue $ 291,776 $ 292,692 $ 763,905 $ 853,338
Provider relief funding 221 0 25,696 0
OPERATING EXPENSES        
Cost of operations, excluding depreciation and amortization 246,462 254,383 708,095 743,997
Depreciation and amortization 21,247 20,490 64,536 60,193
Loss on sale and disposal of equipment and other 342 917 543 1,990
Severance costs 571 52 1,647 1,054
Total operating expenses 268,622 275,842 774,821 807,234
INCOME FROM OPERATIONS 23,375 16,850 14,780 46,104
OTHER INCOME AND EXPENSES        
Interest expense 11,061 11,895 33,443 36,589
Equity in earnings of joint ventures (2,276) (1,955) (5,176) (6,072)
Non-cash change in fair value of interest rate hedge 679 0 4,523 0
Other (income) expenses (139) 2 (247) 1,271
Total other expenses 9,325 9,942 32,543 31,788
INCOME (LOSS) BEFORE INCOME TAXES 14,050 6,908 (17,763) 14,316
(Provision for) benefit from income taxes (3,825) (1,816) 5,029 (3,556)
NET INCOME (LOSS) 10,225 5,092 (12,734) 10,760
Net income attributable to noncontrolling interests 4,069 1,897 8,063 6,400
NET INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 6,156 $ 3,195 $ (20,797) $ 4,360
BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.12 $ 0.06 $ (0.41) $ 0.09
DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.12 $ 0.06 $ (0.41) $ 0.09
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 51,358,603 49,807,460 50,746,380 49,597,138
Diluted (in shares) 51,955,815 50,360,360 50,746,380 50,113,306
Service fee revenue        
REVENUE        
Total service revenue $ 256,730 $ 261,908 $ 660,760 $ 762,751
Revenue under capitation arrangements        
REVENUE        
Total service revenue $ 35,046 $ 30,784 $ 103,145 $ 90,587