5/18/2009 10:45:58 AM
LAKE FOREST, Calif.--(BUSINESS WIRE)--InSight Health Services Holdings Corp. (“InSight”) (OTCBB: ISGT) today announced financial results for its third quarter ended March 31, 2009.
Upon its emergence from chapter 11, InSight adopted fresh-start reporting in accordance with American Institute of Certified Public Accountants’ Statement of Position 90-7. The adoption of fresh-start reporting resulted in InSight becoming a new entity for financial reporting purposes. Accordingly, InSight’s condensed consolidated financial statements on or after August 1, 2007 are not comparable to InSight’s condensed consolidated financial statements prior to that date. The adoption of fresh-start reporting primarily affected depreciation and amortization and interest expense in the condensed consolidated statements of operations. The accompanying condensed consolidated statements of operations for the nine months ended March 31, 2008 combine the results of operations for the one month ended July 31, 2007 of the predecessor entity and the eight months ended March 31, 2008 of the successor entity. The combined results of operations are then compared with nine months ended March 31, 2009.
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