Alliance Imaging of Orange Reports $14.7-Million ’93 Loss

Alliance Imaging Inc., hurt by industrywide problems of slack demand and too many imaging machines, said Thursday that it lost $14.7 million last year.

The loss, equal to $2.07 a share, was caused mostly by write-downs it took in the third quarter on its older magnetic resonance imaging machines. The loss was a substantial drop from 1992 earnings of $1.1 million, or 15 cents a share. Alliance’s revenue fell 5% to $60.7 million last year from $63.7 million the previous year.

Terrence White, the company’s chief financial officer, said the prospect of health care reform has caused doctors to rely less on MRI machines. In addition, an oversupply of machines has lowered the cost of the equipment and the pictures they produce.

White said the company remains strong enough to weather the industry slump, though he wouldn’t rule out further losses.

For the fourth quarter, Alliance lost $1.2 million, or 18 cents a share, nearly double its $661,000 loss, or 9 cents a share, in the previous year’s final quarter.

Alliance Imaging Reports Year-End Loss

For the fiscal year ended Dec. 31, 1993, Alliance Imaging reported a net loss of $14.7 million, or $2.07 per share, contrasted with net income of $1.2 million, or 15 cents per share, in 1992. The company attributed the loss to a third-quarter pretax restructuring charge of $17.5 million ($12.9 million after related tax credits). Figures in thousands of dollars, except per-share data:

4th qtr 4th qtr 12 months 12 months 1992 1993 1992 1993 Revenue $16.1 $14.4 $63.7 $60.7 Net income (loss) (.661) (1.2) 1.2 (14.7) Per share (loss) (0.09) (0.18) 0.15 (2.07)

Source: Alliance Imaging

Researched by JANICE L. JONES / Los Angeles Times