Nuclear medicine firm Digirad swung to a profit for the second quarter of 2009 (end-June 30), even though the company saw sales decline for the period.
For the period, Digirad had revenue of $18.6 million, down 7% compared to $19.9 million in the second quarter of 2008. The lower revenue was due to the sale of parts of its Digirad Imaging Solutions (DIS) unit and to fewer gamma camera sales, the Poway, CA-based firm reported.
Despite the sales decline, the company reported a net profit of $784,000 for the quarter, compared to a net loss of $1.2 million for the previous period a year ago. Digirad said that operational efficiencies helped improve profit margins and generate the company's second consecutive quarterly profit.
Year-to-date, the company posted revenue of $36.3 million, down 5% compared to $38.2 million for the first six months of 2008. Year-to-date net income was $800,000, compared to a net loss of $2.6 million for the first six months of 2008, Digirad said.
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