Digirad Corporation to Release 2019 Fourth Quarter and Year End Financial Results on March 6, 2020
February 27 2020 - 8:00AM
Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the
“Company”) will release its financial results for the fourth
quarter and year ended December 31, 2019 before the
market opens on Friday, March 6, 2020.
A conference call is scheduled for 10:00
a.m. EST (7:00 a.m. PST) on March 6, 2020 to discuss
the results and management’s outlook. The call may be accessed by
dialing 1-877-407-9039 (international callers
+1-201-689-8470).
A simultaneous webcast of the call may be
accessed online from the Events & Presentations link on the
Investor Relations page of the Digirad website
at http://ir.digirad.com/events-presentations; an archived
replay of the webcast will be available within 15 minutes of the
end of the conference call.
About Digirad
CorporationDigirad Corporation is a diversified holding
company with three operating divisions: Healthcare, Building &
Construction and Real Estate & Investments.
Digirad: Healthcare
DivisionHealthcare Division (Digirad Health) designs,
manufactures, and distributes diagnostic medical imaging products.
Digirad Health operates in three businesses: Diagnostic Services,
Mobile Healthcare, and Diagnostic Imaging. The Diagnostic Services
business offers imaging and monitoring services to healthcare
providers as an alternative to purchasing the equipment or
outsourcing the job. The Mobile Healthcare business provides
contract diagnostic imaging, including computerized tomography
(“CT”), magnetic resonance imaging (“MRI”), positron emission
tomography (“PET”), PET/CT, and nuclear medicine and healthcare
expertise through a convenient mobile service. The Diagnostic
Imaging business develops, sells, and maintains solid-state gamma
cameras.
ATRM: Building & Construction
DivisionBuilding and Construction Division (ATRM) services
residential and commercial construction projects by manufacturing
modular housing units, structural wall panels, permanent wood
foundation systems, and other engineered wood products, and
supplies general contractors with building materials. This
division operates in two businesses: (i) modular building
manufacturing and (ii) structural wall panel and wood foundation
manufacturing, including building supply retail operations. The
modular building manufacturing business is operated by KBS
Builders, Inc. (“KBS”), and the structural wall panel and wood
foundation manufacturing segment is operated by EdgeBuilder, Inc.
(“EdgeBuilder”), and the retail building supplies are sold through
Glenbrook Building Supply, Inc. (“Glenbrook” and together with
EdgeBuilder, “EBGL”). KBS, EdgeBuilder and Glenbrook are
wholly-owned subsidiaries of ATRM.
Real Estate & Investments
DivisionReal Estate & Investments Division manages
real estate assets (currently three manufacturing plants in Maine)
and investments.
Forward-Looking Statements“Safe
Harbor” Statement under the Private Securities Litigation Reform
Act of 1995: This release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. All statements in this release that are not statements of
historical fact are hereby identified as “forward-looking
statements” for the purpose of the safe harbor provided by Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended.
Forward-looking Statements include, without
limitation, statements regarding (i) the plans and objectives of
management for future operations, including plans or objectives
relating to acquisitions and related integration, development of
commercially viable products, novel technologies, and modern
applicable services, (ii) projections of income (including
income/loss), EBITDA, earnings (including earnings/loss) per share,
free cash flow (FCF), capital expenditures, cost reductions,
capital structure or other financial items, (iii) the future
financial performance of Digirad Corporation (“Digirad,” “DRAD” or
the “Company”) or acquisition targets and (iv) the assumptions
underlying or relating to any statement described above. Moreover,
forward-looking statements necessarily involve assumptions on the
Company’s part. These forward-looking statements generally are
identified by the words “believe”, “expect”, “anticipate”,
“estimate”, “project”, “intend”, “plan”, “should”, “may”, “will”,
“would”, “will be”, “will continue” or similar expressions. Such
forward-looking statements are not meant to predict or guarantee
actual results, performance, events or circumstances and may not be
realized because they are based upon the Company's current
projections, plans, objectives, beliefs, expectations, estimates
and assumptions and are subject to a number of risks and
uncertainties and other influences, many of which the Company has
no control over. Actual results and the timing of certain events
and circumstances may differ materially from those described above
as a result of these risks and uncertainties. Factors that may
influence or contribute to the inaccuracy of forward-looking
statements or cause actual results to differ materially from
expected or desired results may include, without limitation, the
substantial amount of debt of the Company and the Company’s ability
to repay or refinance it or incur additional debt in the future;
the Company’s need for a significant amount of cash to service and
repay the debt and to pay dividends on the Company Preferred Stock;
the restrictions contained in the debt agreements that limit the
discretion of management in operating the business; the length of
time associated with servicing customers; losses of significant
contracts; disruptions in the relationship with third party
vendors; accounts receivable turnover; insufficient cash flows and
resulting lack of liquidity; the Company's inability to expand the
Company's business; unfavorable changes in the extensive
governmental legislation and regulations governing healthcare
providers and the provision of healthcare services and the
competitive impact of such changes (including unfavorable changes
to reimbursement policies); high costs of regulatory compliance;
the liability and compliance costs regarding environmental
regulations; the underlying condition of the technology support
industry; the lack of product diversification; development and
introduction of new technologies and intense competition in the
healthcare industry; existing or increased competition; risks to
the price and volatility of the Company’s Common Stock and
Preferred Stock; stock volatility and liquidity; risks to preferred
stockholders of not receiving dividends and risks to the Company’s
ability to pursue growth opportunities if the Company continues to
pay dividends according to the terms of the Company Preferred
Stock; the Company’s ability to execute on its business strategy
(including any cost reduction plans); the Company’s failure to
realize expected benefits of restructuring and cost-cutting
actions; the Company’s ability to preserve and monetize its net
operating losses; risks associated with the Company’s possible
pursuit of acquisitions; the Company’s ability to consummate
successful acquisitions and execute related integration, including
to successfully integrate ATRM’s operations and realize the
synergies from the acquisition, as well as factors related to the
Company’s business (including ATRM) including economic and
financial market conditions generally and economic conditions in
the Company’s markets; failure to keep pace with evolving
technologies and difficulties integrating technologies; system
failures; losses of key management personnel and the inability to
attract and retain highly qualified management and personnel in the
future; and the continued demand for and market acceptance of the
Company’s services. For a detailed discussion of cautionary
statements and risks that may affect the Company’s future results
of operations and financial results, please refer to the Company’s
filings with the Securities and Exchange Commission, including, but
not limited to, the risk factors in the Company’s most recent
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. This
release reflects management’s views as of the date presented.
All forward-looking statements are necessarily only estimates of
future results, and there can be no assurance that actual results
will not differ materially from expectations, and, therefore, you
are cautioned not to place undue reliance on such statements.
Further, any forward-looking statement speaks only as of the date
on which it is made, and we undertake no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which the statement is made or to reflect the
occurrence of unanticipated events.
For more information contact:
Digirad
Corporation |
The Equity
Group |
Jeffrey E. Eberwein |
Lena Cati |
Chairman of the Board |
Vice President |
203-489-9501 |
212-836-9611 |
ir@digirad.com |
lcati@equityny.com |
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