William Blair & Company Initiates Coverage of Digirad Corporation With Outperform Rating
July 20 2004 - 1:09PM
PR Newswire (US)
William Blair & Company Initiates Coverage of Digirad
Corporation With Outperform Rating CHICAGO, July 20 /PRNewswire/ --
William Blair & Company today announced that it initiated
research coverage of Digirad Corporation (NASDAQ:DRAD) ($9.00), a
player in the $300 million market for nuclear cardiology diagnostic
equipment, with an Outperform rating and company profile of
Aggressive Growth. Analyst Ben Andrew estimated that the company,
which is just beginning to penetrate the $2.7 billion potential
market for mobile imaging services through its Digirad Imaging
Solutions (DIS) unit, would earn $0.01 per share in 2004 and $0.22
per share in 2005 on a fully taxed basis. "Digirad's unique and
proprietary solid-state digital gamma camera represents a
significant advance over the traditionally analog gamma cameras
that still rely on a large array of vacuum tube detectors," Andrew
said. "Cardiologists with whom we have spoken indicate that aside
from all the physical advantages of the Digirad system (smaller
footprint, low weight, patient comfort, etc.), the images they
provide are simply sharper and more detailed than those from
competitive devices." William Blair & Company, L.L.C., founded
in 1935, is a Chicago-based investment firm offering investment
banking, asset management, equity research, institutional and
private brokerage, and private capital to individual,
institutional, and issuing clients. As an independent, employee-
owned firm, our philosophy is to serve our clients' interests first
and foremost. We place a high value on the enduring nature of our
client relationships, the quality of our products and services, and
the continuity and integrity of our people. For more information,
please visit: http://www.williamblair.com/ . William Blair &
Company, L.L.C. has received compensation for investment banking
services from the company within the past 12 months, or expects to
receive or intends to seek compensation for investment banking
services in the next 3 months. William Blair & Company, L.L.C.
was a manager or co-manager of a public offering of equity
securities within the prior 12 months. William Blair & Company,
L.L.C. is a market maker in the security of this company and may
have a long or short position. For important disclosures and
information regarding the firm's rating system, valuation methods
and potential conflicts of interest, please visit:
http://www.williamblair.com/pages/news_story.asp?uid=686 .
Additional information is available upon request. William Blair
& Company, L.L.C. is a member of the National Association of
Securities Dealers, CRD number 1252. DATASOURCE: William Blair
& Company, L.L.C. CONTACT: Tony Zimmer of William Blair &
Company, L.L.C., +1-312-364-8611, Web site:
http://www.williamblair.com/
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