Digirad reports continued revenue decline in Q4, 2018

Nuclear medicine equipment and services firm Digirad posted a decline in revenues in the fourth quarter of 2018 and the year as a whole.

For the quarter (end-December 31, 2018), Digirad's total revenues were $25.9 million, down from $26.3 million in the same quarter of the previous year. The net loss for the quarter from continuing operations amounted to $900,000, compared with a net loss for continuing operations of $22.6 million for the same period in 2017.

For the year, total revenues were $104.2 million, just shy of the $104.6 million in total revenues for 2017. The net loss for 2018 was limited to $3.8 million, compared with $35 million in 2017.

As with the previous year, Digirad cited slow capital equipment sales in its Diagnostic Imaging sector as the primary source of the decline in revenues. The company also paid down $10 million in debt during the 12-month period, reducing its debt by 50% from the previous year.

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