May 11, 2020 / 1:17 PM / 17 days ago

BRIEF-RadNet Reports First Quarter Financial Results

May 11 (Reuters) - RadNet Inc:

* RADNET REPORTS FIRST QUARTER FINANCIAL RESULTS AND ANNOUNCES STRONG LIQUIDITY POSITION AS A RESULT OF COMPLETING COST SAVINGS AND CASH CONSERVATION MEASURES

* Q1 LOSS PER SHARE $0.33

* Q1 EARNINGS PER SHARE ESTIMATE $-0.17 — REFINITIV IBES DATA

* Q1 REVENUE $281.6 MILLION VERSUS REFINITIV IBES ESTIMATE OF $258.4 MILLION

* IN Q1 2020, COVID-19 NEGATIVELY IMPACTED REVENUE BY AN ESTIMATED $25 MILLION

* FULLY OR PARTIALLY FURLOUGHED OVER 3,900 OF OUR APPROXIMATELY 8,600 EMPLOYEES

* EXECUTIVE MANAGEMENT TEAM AND SALARIED PHYSICIANS ARE TAKING 50% SALARY CUTS

* WILL EXPERIENCE LITTLE TO NO CASH BURN THROUGH END OF Q2 Source text for Eikon: Further company coverage:

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