RadNet Rebounds After Earnings Delay

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Shares of RadNet Inc. rebounded Tuesday after closing down more than 6 percent Monday when the company said it was postponing its fourth-quarter results for a week due to auditing issues.


Shares in the Los Angeles-based medical diagnostic imaging center operator closed down 6.3 percent Monday to $6.23, but rebounded early Tuesday adding 7.4 percent to $6.70.


RadNet said late Friday that its auditors needed more time to complete their review of the fourth-quarter and full-year financial results. The results were postponed from Monday, March 24, to next Monday.


Analyst Arthur Henderson, with Jefferies & Co., said in a research report late Monday that the delay could mean a “noisy” fourth quarter and added that the company’s auditors might have “identified issues that may require either a charge or a restatement to resolve.”

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