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2/17/10 - Insight Health Down After Financials Released
InSight Health Services Holdings Corp. (“Insight Imaging”)
(ISGT)
traded down $0.01 to $0.085 or 10.53% after announcing its financial results
for the second quarter ended December 31, 2009.
Kip Hallman, Insight Imaging’s President and CEO, stated, “We are
disappointed in our second quarter results. We experienced a larger than
anticipated decline in our contract services revenues. Our contract services
segment suffered from a much larger than usual level of contracts up for
renewal during the first half of our fiscal year, but we believe that the
changes we have made to improve our sales organization over the past year
combined with a more normal level of renewal activity will have a positive
impact on our results in coming quarters. Our patient services, or retail,
segment actually increased in terms of its contribution to our Adjusted EBITDA.
Our Insight Imaging Enterprise Solutions initiative is advancing as we
anticipated. In January, we signed a new customer and renewed an existing
customer. Under both contracts Insight Imaging provides a combination of
management, sales, systems and support to an affiliate of large health care
systems. We are currently engaged in a number of discussions with hospitals
and freestanding imaging centers nationwide.”
