By staff writers

February 23, 2018 -- Nuclear medicine firm Digirad reported declines in revenue for its 2017 fourth quarter and the year, as well as a $22 million loss for the fourth quarter.

For the fourth quarter (end-December 31), Digirad's revenues were $30.9 million, down slightly from the $31.1 million reported for the same quarter of the previous year. This amounted to a net loss of $22 million, compared with net income of $2 million for the same period the year before.

Digirad also saw a dip in revenue for the year, to $118.3 million, down 5.7% compared with revenues of $125.5 million in 2016. The company's net loss for the 12-month period was $35.7 million, compared with net income of $14.3 million the prior year.

The lower revenue resulted from slower capital equipment sales in the company's Diagnostic Imaging sector, according to President and CEO Matt Molchan. However, the company's Diagnostic Services and Mobile Healthcare division showed revenue gains for the quarter and year.

With the firm's fourth-quarter sale of service contracts from its Medical Device Sales and Service (MDSS) business unit to Philips Healthcare, Digirad now plans to focus on its core mobile imaging services, Molchan said in a statement.

Copyright © 2018

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