Virtual Radiologic Corporation reported unaudited consolidated financial results for the third quarter and nine months ended September 30, 2009. For the quarter, total revenue increased 9% to $31.6 million compared to $29.0 million for the quarter ended September 30, 2008. The increase in revenue over the third quarter of 2008 resulted primarily from an 18% increase in the number of hospitals and medical facilities served to 1,154 as of September 30, 2009, representing approximately 19% of all hospitals in the United States. Adjusted EBITDA increased 33% to $8.7 million compared to $6.5 million for the quarter ended September 30, 2008 and increased to 27% of revenue compared to 22% for the same periods, respectively. Adjusted net income increased 19% to $4.3 million, compared to $3.6 million for the quarter ended September 30, 2008. This resulted in a 24% increase in adjusted diluted EPS to $0.26 compared to $0.21 for the quarter ended September 30, 2008. Income before income tax expense was $4.9 million compared to $5.4 million for the same period a year ago. GAAP operating income was $4.8 million compared to $5.2 million for the quarter ended September 30, 2008 and GAAP net income was $3.0 million compared to $3.6 million for the quarter ended September 30, 2008, resulting in diluted earnings per share of $0.19 and $0.21, respectively. For the nine months, the company reported an operating income of $11.1 million, income before income tax of $11.2 million, net income of $6.8 million or $0.42 per diluted share on the revenue of $90.8 million compared to the operating income of $12.1 million, income before income tax of $12.5 million, net income of $7.6 million or $0.44 per diluted share on the revenue of $78.3 million for the same period a year ago. Adjusted EBITDA was $21.8 million, adjusted net income was $10.3 million or $0.63 per diluted share compared to adjusted EBITDA was $15.6 million, adjusted net income was $7.7 million or $0.44 per diluted share for the same period a year ago. The company is providing the updated guidance for the full year of 2009. For the period, the company now expects revenue ranging from $118.0 million to $120.0 million, remaining the same as the previous range. Adjusted EBITDA ranging from $26.0 million to $27.0 million, compared to the previous range of $24.0 million to $25.0 million, adjusted net income ranging from $11.5 million to $12.1 million, compared to the previous range of $10.3 million to $11.0 million and adjusted diluted earnings per share ranging from $0.71 to $0.75,compared to the previous range of $0.63 to $0.67.

Virtual Radiologic Corporation expected to Report Fiscal Year 2009 Results on January 25, 2010. This event was calculated by Capital IQ (Created on October 26, 2009).

Virtual Radiologic Corporation has released enhancements to its vRad Enterprise Connect technology offering. With version 2.1, clients will now be able to access the product solution on mobile PDAs, as well as use new transcription capabilities, known as vRad Scribe, in addition to the existing voice recognition technology. Other improvements include augmented utilization reporting tools and more flexible user account management. Based on the company's proprietary software platform it uses to perform over 2.5 million annual radiology interpretations for 1,085 medical facilities, vRad Enterprise Connect is provided via software as a service to help radiology practices grow their own business and profitability. vRad Enterprise Connect is already improving the productivity of clients at 30 medical facilities, with an additional 25 facilities under contract for deployment.