Digirad sees boost in 2Q revenues

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Digirad Corp. saw an incline in second quarter results ending June 30. Total revenues rose 23 percent to $17.3 million, compared with total revenues of $14.0 million in the second quarter of 2003. Net income for the second quarter of 2004 increased to $0.1 million, compared with a net loss of $0.8 million in the second quarter of 2003

For the six month period, total revenues rose 23 percent to $33.2 million, compared with $27.0 million for the year-ago period. The net loss for the first six months of 2004 totaled $0.2 million, compared with a net loss of $1.7 million in the year-ago period.

The company said it generates revenue from mobile imaging leasing services through Digirad Imaging Solutions (DIS) and from the sale of gamma cameras and associated accessories and maintenance contracts. In the second quarter of 2004, DIS revenues increased 29 percent to $11.3 million, compared with $8.8 million in the year ago quarter.

For the first six months of 2004, DIS revenues rose 33 percent to $21.7 million, compared with $16.3 million in the year ago period. DIS said revenue increases was driven mainly by additional physicians entering into DIS service contracts and growth in existing DIS business. DIS added four imaging systems to its operations during the second quarter of 2004, taking the total DIS systems to 63 as of June 30, compared with 51 systems at June 30, 2003.