Alliance Imaging Inc., an Anaheim-based scanning services provider, said Wednesday that its fourth-quarter profit nearly doubled, beating Wall Street expectations.
Alliance said fourth-quarter net income jumped 96% to $5.1 million. Sales in the quarter rose 1.3% to $111.7 million.
Analysts expected Alliance to earn $4.4 million on sales of $113.1 million.
The company said its 2006 profit was up 1% to $20.1 million. Sales for the year increased 5.8% to $455.8 million.
Wall Street expected the company to make $20.9 million on sales of $456.2 million last year.
Alliance, which previously said it expects 2007 earnings to be off as much as $14 million because of Medicare reimbursement cuts, said it plans to grow through its “wholesale” scanning business from hospitals that contract with the company to run scanning services; building one to three cancer scanning centers; and operating its core scanning business to hospitals “as efficiently as possible,” Chief Executive Paul Viviano said in a release.
“By focusing on these initiatives, we expect Alliance to continue to distinguish itself in this challenging environment,” Viviano said.
