Buffeted by seasonal headwinds and changes to its mobile health platform, nuclear medicine firm Digirad said its revenue and income both fell for the first quarter (end-March 31), compared with the same period a year ago.
Total revenues for the first quarter were $29.1 million, a drop of 6.7% from $31.2 million in the first quarter of the prior year, Digirad said. The company posted a net loss of $2.1 million for the quarter, compared with net income of $11.6 million for the corresponding quarter of 2016.
Digirad President and CEO Matt Molchan said the company's core businesses are performing well and within expectations overall. As for the vendor's difficulties in mobile healthcare, Digirad has revamped its leadership, operations, and sales approach within the business in response, Molchan said.
The company paid $1.3 million on its credit facility during the quarter and issued a dividend of 5¢ per share to be paid on May 30, Digirad said.
