LAS VEGAS, Aug. 20, 2009 (GLOBE NEWSWIRE) -- For emergent companies there is rarely news more important than that of increased revenues, not just in the obvious benefit of a sustaining influx of capital to the company, but also in the implied value to existing and prospective shareholders. And when a diagnostic imaging company like Metiscan, Inc. (Pink Sheets:MTIZ) reports increased revenues as they did after the bell yesterday, it sends a message to the market that things are going well at the company.
SmallCapSentinel.com has published a profile featuring diagnostic imaging company Metiscan, Inc. and of interest to investors of diagnostic related companies Imaging Diagnostic Systems, Inc., (OTCBB:IMDS), Virtual Radiologic Corp. (Nasdaq:VRAD), The Quantum Group, Inc. (NYSE Amex:QGP), and Quest Diagnostcs (NYSE:DGX).
The profile is available at www.smallcapsentinel.com/mtiz Metiscan did a good job in their release of explaining the rise, detailing the benefits of an acquisition by stating that during the six months ended June 30, 2009, the company achieved revenues of $1,219,379 as compared to $421,133 during the six months ended June 30, 2008. Metiscan attributes the increase of $798,246, or 190%, primarily to the result of its acquisition of Schuylkill Open MRI, Inc. (SOMRI) and the revenues that FirstView EHR, Inc. (FirstView) produces.
Moreover, during the six months ended June 30, 2009, SOMRI experienced revenues of $1,017,845 and a corresponding EBITDA of $238,603, or a 23% profit from operations. In comparison to SOMRI's 2009 Q1 financial results, SOMRI experienced revenues of $534,739 in 2009 Q2 or an increase of $51,633 in revenues from 2009 Q1.
It's an important moment for Metiscan indubitably, and the news is intriguing in an economy where good financials aren't the norm. With Metiscan's stated goal to focus on growing its organization by making key acquisitions and developing companies and emerging technologies, the news is perhaps even more relevant.
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