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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
NET REVENUE        
Service fee revenue, net of contractual allowances and discounts $ 208,430 $ 192,904 $ 613,031 $ 546,337
Provision for bad debts (11,253) (9,433) (33,883) (25,295)
Net service fee revenue 197,177 183,471 579,148 521,042
Revenue under capitation arrangements 27,466 24,895 80,448 72,880
Total net revenue 224,643 208,366 659,596 593,922
OPERATING EXPENSES        
Cost of operations, excluding depreciation and amortization 192,752 175,631 583,640 520,348
Depreciation and amortization 17,318 14,601 49,541 43,836
Loss on sale and disposal of equipment (66) 738 375 774
Severance costs 2,188 167 2,528 297
Total operating expenses 212,192 191,137 636,084 565,255
INCOME FROM OPERATIONS 12,451 17,229 23,512 28,667
OTHER INCOME AND EXPENSES        
Interest expense 11,404 10,546 32,830 30,965
Meaningful use incentive 0 0 (2,808) (3,270)
Equity in earnings of joint ventures (2,576) (1,992) (8,129) (6,301)
Gain on sale of imaging centers 0 (4,823) 0 (4,823)
Gain from return of common stock 0 0 (5,032) 0
Other expenses 174 8 180 418
Total other expenses 9,002 3,739 17,041 16,989
INCOME BEFORE INCOME TAXES 3,449 13,490 6,471 11,678
Provision for income taxes (1,458) (5,199) (2,531) (4,300)
NET INCOME 1,991 8,291 3,940 7,378
Net income attributable to noncontrolling interests 344 304 391 550
NET INCOME ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 1,647 $ 7,987 $ 3,549 $ 6,828
BASIC NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ .04 $ .18 $ .08 $ .16
DILUTED NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ .04 $ .18 $ .08 $ .15
WEIGHTED AVERAGE SHARES OUTSTANDING - Basic 45,868,629 43,637,022 46,337,993 43,247,002
WEIGHTED AVERAGE SHARES OUTSTANDING - Diluted 46,333,970 44,751,936 46,748,836 44,704,323