Nuclear medicine firm Digirad of Poway, CA, turned in stronger financial results based on higher annual revenues and decreased operating expenses for 2007.
For the period (end-December 31), the company had revenues of $18.8 million, up 9% from $17.2 million in the fourth quarter of 2006. Revenue from its mobile imaging services division (DIS) rose 16% to $13.4 million, compared to $11.5 million in 2006.
The firm reported a net loss of $1.1 million for the most recent quarter, compared to a $149,000 loss in the same quarter of 2006. The company said that the results were due to a decline in DIS gross profit, increased amortization costs associated with intangible assets from the Ultrascan acquisition, and one-time charges produced by certain long-term assets.
The company reported that revenues for the full-year 2007 increased 3% to $73.9 million compared to $71.9 million in 2006. Digirad posted a net loss for the year of $1.4 million, compared to a net loss of $6.3 million in 2006.
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