-- The Product Division was profitable for the year and for the quarter on the strength of double-digit unit and revenue growth in the fourth quarter over fourth quarter 2007. The company had established the goal of profitability for the year in the division at the beginning of 2008.
-- The Centers of Influence (COI) model, which pairs leading academic centers with a network of community practitioners to drive growth and utilization, continues to work as the more established COI locations also showed growth in the quarter over the prior year.
-- Negotiations for the sale or closure of underperforming hub locations
began during the fourth quarter and are well underway. Those transactions
should begin to close during the next 60 days and are expected to be complete
within six months. The locations generated nearly
-- The company's operations generated more than
Digirad CEO
As previously announced, Clyde will be presenting at J.P. Morgan's 27th
Annual Healthcare Conference being held
About Digirad Corporation
Digirad provides medical diagnostic imaging systems and personnel and
equipment leasing services to physicians' offices, hospitals and imaging
centers for cardiac, vascular, and general imaging applications. Digirad's
Cardius XPO line of nuclear imaging cameras use patented solid-state
technology and unique multi (single, dual, triple) head design for superior
performance and advanced features for sharper digital images, faster
processing, compact size, lighter weight for portability, ability to handle
patients up to 500 pounds, and improved patient comfort compared to standard
nuclear cameras. Digirad's 2020tc general-purpose nuclear imager has a small
footprint and may also be configured for fixed or mobile use to supplement
primary imaging. Digirad's installed base of equipment exceeds 600 systems; in
addition, a mobile fleet of more than 145 nuclear and ultrasound imaging
systems is being used in 21 states, primarily in the eastern, midwestern and
southwestern
Forward-Looking Statements
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. These include statements regarding the efficacy of Digirad's centers of influence model, the status of the negotiation of the sale or closure of underperforming hub locations, and the ability to achieve positive cash flow and profitability, drive technology progress and improve services utilization to grow market share. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made, including the risks associated with changes in business conditions, technology, customers' business conditions, work force, suppliers, business prospects, economic outlook, operational policy or structure, acceptance and use of Digirad's camera systems and services, reliability, recalls, and other risks detailed in Digirad's filings with the U.S. Securities and Exchange Commission, including Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports. Readers are cautioned to not place undue reliance on these forward looking statements, which speak only as of the date hereof. All forward looking statements are qualified in their entirety by this cautionary statement, and Digirad undertakes no obligation to revise or update the forward looking statements contained herein.
Investor Contact: Company Contact: Matt Clawson Todd Clyde Allen & Caron Chief Executive Officer 949-474-4300 858-726-1600
SOURCE Digirad Corporation