Wednesday, April 13, 2011

Alliance (AIQ) Jumps on Guidance Boost

Shares of Alliance HealthCare Services (NYSE:AIQ) soared on Tuesday as the company increased its full year guidance for 2011.

Revenue for the year is expected to rise from the prior projection of $475 million to $505 million to a range of $500 million to $530 million. Analyst estimate 2011 revenue to reach about $483 million.

Alliance also announced Tuesday it has acquired US Radiosurgery LLC for approximately $43 million in cash. US Radiosurgery will become part of Alliance's oncology unit.

Alliance HealthCare Services closed Tuesday at $4.50, gaining $0.25, or 5.88 percent. It was trading in after hours at $4.55, up $0.05, or 1.11 percent, as of 4:55 PM EDT.

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