Virtual Radiologic plummets by 29% on revised '08 outlook

Virtual Radiologic Corp. (Nasdaq:VRAD) lost more than a quarter of its value this morning after the company announced it expects to report lower-than-expected revenue and earnings per share for 2008.

The Minneapolis, Minn.-based provider of teleradiology services said at 9:00 AM ET it now expects to report earnings per share in the range of $0.46 to $0.52 on revenue of $102 million to $104 million.

Analysts polled by Thomson First Call on average were expecting Virtual Radiologic to report earnings per share of $0.72 on revenue of $109.5 million.

The firm blamed a decline in procedure counts at customer facilities in September for the shift.

By late morning, Virtual Radiologic is at $8.30, down $3.34 from Friday’s close, and hovering close to its 52-week low of $8.25. The stock has traded as high as $24.61 in the past year.

For detailed price information and news stories on Virtual Radiologic, click VRAD.

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