Diagnostic Imaging International Corp. 2013 Q3 Financial Results
November 19 2013 - 8:15AM
Marketwired
LAS VEGAS, NEVADA-(Marketwired - Nov. 19, 2013) - Diagnostic
Imaging International Corp. (OTCQB:DIIG)(PINKSHEETS:DIIG) announced
today that it has filed its 10-Q report for the third quarter of
2013.
The Company is very pleased to report that it has generated
record revenues in Q3 2013. The Company is now looking to expand
operations through additional acquisitions. The Company will
require financing in order to complete additional acquisitions.
For Q3 2013 total Company revenues were $1.322 million. For the
nine months ended September 30, 2013 total Company revenues were
$3.814 million.
EBITDA for the nine months ending with the third quarter of 2013
was $0.018 per share.
"Our Q3 results demonstrate solid growth for the company
following the acquisition of SMI," said Mitchell Geisler, CEO. "We
are continuing our hard work on organic growth within the Company,
as well as looking for new acquisition opportunities."
Financial Highlights
and Breakdowns
For the three months ended September 30, 2013 revenues from
teleradiology services was $847,326 compared to $846,043 for the
three months ended September 30, 2012, an increase of 0.5% or
$1,283. The increase in revenue from teleradiology services of 0.5%
was due to a new contract.
For the three months ended September 30, 2013, revenues from
medical scans services were $486,197. Due to the acquisition date
of December 10, 2012 of SMI, we had no revenue from medical scans
for the three months ended September 30, 2012.
For the three months ended September 30, 2013, cost of sales
incurred relating to radiology services were $820,487 compared to
$690,014 for the three months ended September 30, 2012, an increase
of 19% or $130,473. The increase of $140,293 represents three
months of operation of SMI, along with a decrease in cost of sales
of CTS of 1.5% or $9,820 as a result of the decrease in system
costs.
Operating expenses for the three months ended September 30, 2013
and September 30, 2012, totalled $395,178 and $152,628,
respectively.
To find out more about Diagnostic Imaging International Corp.
(OTCBB:DIIG), visit our website at www.diig.biz.
About DIIG
Diagnostic Imaging International Corp., ("DIIG") owns and
operates CTS a Teleradiology company, and SMI an MRI clinic.
Teleradiology is the process of assessing radiological patient
images, such as x-rays, CTs, and MRIs, from one location to another
for the purposes of interpretation and/or consultation. CTS
provides remote radiology (teleradiology) technology to hospitals
and practices, on-call 24 hours a day, 7days a week. CTS connects
clients with a global teleradiology network, providing access to
global partner facilities and American and Canadian board-certified
radiologists. SMI provides full out-patient MRI diagnostic scans
and results, and offers its patients both an open MRI and closed
1.5T MRI depending on needs and requirements.
This news release includes forward-looking statements that
reflect Diagnostic Imaging International Corp.'s current
expectations about its future results, performance, prospects and
opportunities. Diagnostic Imaging International Corp. has tried to
identify these forward-looking statements by using words and
phrases such as "may", "will", "expects", "anticipates",
"believes", "intends", "estimates", "should", "typical", "we are
confident" or similar expressions. These forward-looking statements
are based on information currently available to Diagnostic Imaging
International Corp. and are subject to a number of risks,
uncertainties and other factors that could cause the Company's
actual results, performance, prospects of opportunities in the
remainder of 2013 and beyond, to differ materially from those
expressed in, or implied by, these forward-looking statements.
Diagnostic
Imaging International Corp.(877) 331-3444www.diig.biz
Medical Imaging (CE) (USOTC:MEDD)
Historical Stock Chart
From Oct 2024 to Nov 2024
Medical Imaging (CE) (USOTC:MEDD)
Historical Stock Chart
From Nov 2023 to Nov 2024