Digirad Updates 2006 Guidance and Provides Initial Guidance for 2007
January 11 2007 - 12:55PM
Business Wire
Management of Digirad Corporation (NASDAQ:DRAD), a leading provider
of cardiovascular imaging services and solid-state nuclear medicine
imaging products to physician offices, hospitals and imaging
centers, updated previous financial guidance for 2006 and provided
initial guidance for 2007 in a presentation today at the 25th
Annual JPMorgan Healthcare Conference in San Francisco. For 2006,
Chief Executive Officer Mark Casner said that the Company currently
anticipates consolidated revenues at the high end of the previously
announced range of $70.7 million to $71.5 million, consisting of
DIS revenue between $49.1 million and $49.5 million and product
revenue between $21.6 million and $22.0 million; and a consolidated
loss at the low end ($7.3 million) of the previously announced
range of $7.3 million to $7.8 million, including estimated
stock-based compensation expense of $1.7 million. Casner stated
that revenue guidance for the full year of 2006 includes $2 million
in stress agent revenues Digirad received through June of 2006,
when it phased out stress agent deliveries, and noted that an
evaluation of Digirad's 2007 revenue guidance in comparison to
Digirad's 2006 results should take the lack of stress agent revenue
going forward into account. For 2007, Casner said that the Company
currently anticipates consolidated revenues in the range of $73
million to $76 million, consisting of DIS revenue between $50
million and $52 million and product revenue between $23 million and
$24 million; and a consolidated loss between $1.3 million and $3.3
million, including estimated stock-based compensation expense of
$1.3 million. You can access the live presentation at
www.mapdigital.com/jpmorgan/healthcare07 beginning at 10:00 a.m.
PST today. After registering, select Digirad Corporation from the
"Live Webcast" link on the left side of the "Welcome" page. The
webcast will be available for replay on January 12, 2007 at the
above internet address or through the Company's website at
drad.client.shareholder.com/medialist.cfm for 90 days. Audio
streams require Windows Media or Real Player installations. About
Digirad Digirad Corporation develops, manufactures and markets
solid-state, digital gamma cameras to hospitals, imaging centers
and physician offices. Digirad offers a comprehensive line of
solid-state nuclear gamma cameras that produce high-quality images
for use in the detection of many medical conditions, including
cardiovascular disease. Digirad's cameras are unique as their
lightweight and compact design allows them to fit easily into small
office spaces. Digirad's wholly owned subsidiary, Digirad Imaging
Solutions, offers a comprehensive, mobile imaging leasing and
services program for physicians who wish to perform in-office
nuclear cardiology procedures but do not have the patient volume,
capital or resources to justify purchasing a gamma camera. For more
information, please visit www.digirad.com. Digirad� and Digirad
Imaging Solutions� are registered trademarks of Digirad
Corporation. Forward-Looking Statements Digirad cautions that
statements included in this press release that are not a
description of historical facts are forward-looking statements. You
can identify these statements by the fact that they do not relate
strictly to historical or current facts and use words such as
"anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe" and other words and terms of similar meaning in
connection with a discussion of future operating or financial
performance or events. Examples of such statements include the
statements regarding our anticipated financial results for 2006 and
2007 fiscal years. The inclusion of these and other forward-looking
statements should not be regarded as a representation by Digirad
that any of its plans will be achieved. Actual results may differ
materially from those set forth in this press release due to the
risks and uncertainties inherent in Digirad's business including,
without limitation: the degree to which personnel changes and
related disruptions in our business activities may affect Digirad's
products, customers, work force, suppliers, and our overall
business prospects and operations; the degree to which Digirad's
camera systems and related services will be accepted by physicians
and hospitals or will experience reliability issues or technical
problems; the ability of Digirad to effectively market, sell and
distribute its medical devices and related services, given its
limited capabilities in these areas; Digirad's ability to manage
risks relating to product liability, warranty claims, recalls,
property damage and personal injury with respect to its imaging
systems; and other risks detailed in Digirad's Securities and
Exchange Commission filings, including its Annual Report on Form
10-K and other reports filed with the Securities and Exchange
Commission. Given these uncertainties, readers are cautioned not to
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 this press
release including the forward-looking statements contained herein
to reflect events or circumstances after the date hereof or to
update the reasons actual results could differ materially from
those anticipated in these forward-looking statements, even if new
information becomes available in the future.
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