Alliance Health Care Services Inc. of Newport Beach reported a lower second-quarter profit that fell short of Wall Street expectations and warned about its revenue for the rest of the year.
Alliance, a provider of medical scanning and cancer treatment services, said it earned $4.2 million in the quarter, compared to $5.1 million in 2008’s second quarter.
Wall Street expected Alliance to earn $5.7 million in the second quarter.
Alliance said its earnings before interest and other items totaled $48 million, up 3% from a year ago.
Second-quarter revenue rose 6% to $130 million, but was below analysts’ expectations of $136.5 million.
Alliance said it expected to have full-year revenue of $503 million to $518 million, compared to a previous forecast of $536 million to $551 million.
Analysts are looking for Alliance’s 2009 revenue to come in at $540.1 million.
Alliance said it expects to have 2009 earnings before interest and other items of $177 million to $192 million, down from a previous projection of $187 million to $202 million.
Alliance reported its results after the close of regular trading Wednesday. The company’s shares closed flat on a market value of about $365 million.
