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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
NET REVENUE        
Service fee revenue, net of contractual allowances and discounts $ 192,904 $ 171,098 $ 546,337 $ 498,536
Provision for bad debts (9,433) (7,532) (25,295) (21,945)
Net service fee revenue 183,471 163,566 521,042 476,591
Revenue under capitation arrangements 24,895 20,493 72,880 55,426
Total net revenue 208,366 184,059 593,922 532,017
OPERATING EXPENSES        
Cost of operations, excluding depreciation and amortization 175,631 153,000 520,348 445,838
Depreciation and amortization 14,601 14,423 43,836 45,193
Loss on sale and disposal of equipment 738 1,289 774 1,581
Severance costs 167 112 297 976
Total operating expenses 191,137 168,824 565,255 493,588
INCOME FROM OPERATIONS 17,229 15,235 28,667 38,429
OTHER INCOME AND EXPENSES        
Interest expense 10,546 10,395 30,965 32,503
Meaningful use incentive 0 0 (3,270) (1,762)
Equity in earnings of joint ventures (1,992) (2,009) (6,301) (4,722)
Gain on sale of imaging centers (4,823) 0 (4,823) 0
Loss on early extinguishment of Senior Notes 0 0 0 15,927
Other expenses 8 6 418 4
Total other expenses 3,739 8,392 16,989 41,950
INCOME (LOSS) BEFORE INCOME TAXES 13,490 6,843 11,678 (3,521)
(Provision for) Benefit from income taxes (5,199) (2,334) (4,300) 911
NET INCOME (LOSS) 8,291 4,509 7,378 (2,610)
Net income attributable to noncontrolling interests 304 58 550 219
NET INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 7,987 $ 4,451 $ 6,828 $ (2,829)
BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ .18 $ .11 $ .16 $ (.07)
DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ .18 $ .10 $ .15 $ (.07)
WEIGHTED AVERAGE SHARES OUTSTANDING: Basic 43,637,022 41,644,606 43,247,002 40,734,083
WEIGHTED AVERAGE SHARES OUTSTANDING: Diluted 44,751,936 44,033,580 44,704,323 40,734,083