Antone J. Lazos resigned last week as chairman and chief executive officer of Medical Imaging Centers of America, the company said.
Mr. Lazos, 52, founded the San Diego-based imaging services company in 1980. He didn't specify his future plans, though he agreed to continue to work with the company as an outside consultant.
Samuel Mayhugh, M.D., will serve as acting chairman and chief executive officer, Medical Imaging said.
"(Mr. Lazos) expressed confidence in the ability of the management team he has developed to continue to lead the company through the ongoing changes occurring in the healthcare industry," the company said in a written statement.
Poor earnings combined with an internal restructuring took their toll on the company in recent years. In April 1993, Michael L. Jeub resigned as president and chief financial officer as part of the restructuring.
In June, Medical Imaging an-nounced that its common stock had been de-listed for trading because of noncompliance with NASDAQ's capital requirements.
However, earlier this month, Medical Imaging reported net income of $1.3 million, or 11 cents per share, for the third quarter ended Sept. 30, compared with a net loss of $1.1 million, or 10 cents per share, during the year-ago period. Revenues dropped 11% to $14 million.
Net income during the third quarter included an extraordinary gain of $1.3 million attributed to the forgiveness of debt.
For the nine months, the company recorded net income of $455,000, or 4 cents per share, compared with a net loss of $4.5 million, or 38 cents per share, in the year-ago period. Revenues dropped 17% to $43.7 million.
Medical Imaging provides high-technology imaging services to hospitals and physician groups.