Alliance Imaging Optimistic, Despite $19.1-Million Loss : Restructuring: Analysts agree the Orange firm is in better shape than it has been in years. The 1994 figures reflect second year of losses.

By HOPE HAMASHIGE

March 10, 1995 12 AM PT

SPECIAL TO THE TIMES

ORANGE —

Alliance Imaging Inc., citing charges it took for restructuring its debts as well as lower sales, reported a loss of $19.1 million, or $2.68 a share, for last year.

The company’s red ink was greater than its 1993 loss of $14.7 million, or $2.07 a share. Its annual revenue fell 4.6% to $57.9 million last year from $60.7 million in 1993.

But Alliance, which owns and operates magnetic resonance imaging machines for clinics and hospitals, said it is in better shape than it has been in years. Analysts tend to agree.

“I am optimistic,” said Mark Matheson, an analyst with Crowell, Weedon & Co. brokerage in Los Angeles. “I think they will do very well this year.”

For the fourth quarter, Alliance lost $15.5 million, or $2.18 a share, compared with a $1.2 million loss, or 18 cents a share, for 1993’s final three months. Quarterly revenue rose slightly to $14.9 million last year from $14.4 million.

The company had anticipated last year’s losses after writing down the value of its equipment. It also paid off two-thirds of its $35-million debt and cut the interest rate by nearly half--to 7.5%--on the remainder.

Matheson said that Alliance’s revenue stream suffered from intense cost-cutting in the health-care field, which is beginning to stabilize. As it does, the company’s performance will pick up, he said, because the equipment is still among the best.

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Regrouping at Alliance Imaging

Citing restructuring charges, Alliance Imaging posted a 1994 loss of $19.1 million on revenue of $57.9 million. Figures in millions of dollars, except data per share:

4th qtr. 4th qtr. 12 months 12 months 1993 1994 1993 1994 Revenue $14.4 $14.9 $60.7 $57.9 Net income (loss) (1.2) (15.5) (14.7) (19.1) Per share (loss) (0.18) (2.18) (2.07) (2.68)

Source: Alliance Imaging; Researched by JANICE L. JONES / Los Angeles Times