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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
NET REVENUE        
Service fee revenue, net of contractual allowances and discounts $ 211,313 $ 208,430 $ 638,119 $ 613,031
Provision for bad debts (11,687) (11,253) (35,187) (33,883)
Net service fee revenue 199,626 197,177 602,932 579,148
Revenue under capitation arrangements 27,981 27,466 83,702 80,448
Total net revenue 227,607 224,643 686,634 659,596
OPERATING EXPENSES        
Cost of operations, excluding depreciation and amortization 198,109 192,752 602,174 583,640
Depreciation and amortization 17,053 17,318 50,319 49,541
Loss (gain) on sale and disposal of equipment 420 (66) 828 375
Severance costs 1,186 2,188 1,566 2,528
Total operating expenses 216,768 212,192 654,887 636,084
INCOME FROM OPERATIONS 10,839 12,451 31,747 23,512
OTHER INCOME AND EXPENSES        
Interest expense 10,169 11,404 30,712 32,830
Meaningful use incentive 0 0 (250) (2,808)
Equity in earnings of joint ventures (3,450) (2,576) (8,372) (8,129)
Gain on sale of imaging centers (845) 0 (3,146) 0
Gain from return of common stock 0 0 0 (5,032)
Other expenses 4 174 14 180
Total other expenses 5,878 9,002 18,958 17,041
INCOME BEFORE INCOME TAXES 4,961 3,449 12,789 6,471
Provision for income taxes (1,112) (1,461) (4,177) (2,211)
NET INCOME 3,849 1,988 8,612 4,260
Net income attributable to noncontrolling interests 623 344 1,286 391
NET INCOME ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 3,226 $ 1,644 $ 7,326 $ 3,869
BASIC NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 0.07 $ 0.04 $ 0.16 $ 0.08
DILUTED NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 0.07 $ 0.04 $ 0.16 $ 0.08
WEIGHTED AVERAGE SHARES OUTSTANDING - Basic 46,953,705 45,868,629 46,760,583 46,337,993
WEIGHTED AVERAGE SHARES OUTSTANDING - Diluted 47,577,750 46,333,970 47,239,360 46,748,836