- Reaffirms 2018 financial guidance
- Operating cash flows of $2.6 million in the quarter, a year over year quarterly increase of $1.0 million
- Reduces debt by $0.5 million in the quarter and $7.0 million year to date
- Company to pay regular quarterly cash dividend of $0.055 cents per share
SUWANEE, Ga., Aug. 02, 2018 (GLOBE NEWSWIRE) -- Digirad Corporation (Nasdaq: DRAD) today
reported its financial results for the second quarter and six months ended June 30, 2018.
Total revenues from continuing operations for the second quarter were $27.1 million, compared to $26.7 million
in the second quarter of the prior year.
Net loss from continuing operations for the second quarter was $0.4 million, or $0.02 net loss per diluted share
from continuing operations, compared to net loss of $2.85 million or $0.14 net loss per diluted share in the same period in the
prior year. Non-GAAP adjusted net income from continuing operations for the second quarter was $0.4 million, or $0.02 adjusted net
income from continuing operations per diluted share, compared to adjusted net loss of $0.5 million, or $0.03 adjusted net loss per
diluted share in the same period in the prior year.
Non-GAAP adjusted EBITDA from continuing operations for the second quarter was $2.7 million, compared to $2.0
million in the same period in the prior year. Operating cash flow for the second quarter was $2.6 million, compared to the
prior year's operating cash flow for the second quarter of $1.6 million. Non-GAAP free cash flow was $2.2 million for the second
quarter, compared to $1.4 million in the same period in the prior year.
Total revenues for the six months ended June 30, 2018 were $52.5 million, compared to $52.5 million in the
same period in the prior year.
Net loss from continuing operations for the six months ended June 30, 2018 was $1.7 million, or $0.09 net
loss per diluted share, compared to net loss of $5.1 million, or $0.26 net loss per diluted share in the same period in the prior
year. Non-GAAP adjusted net loss for the six months ended June 30, 2018 was $0.9 million, or $0.05 adjusted net loss per
diluted share, compared to adjusted net loss of $1.8 million, or $0.09 adjusted net loss per diluted share in the same period in
the prior year.
Non-GAAP adjusted EBITDA for the six months ended June 30, 2018 was $3.5 million, compared to $3.1 million
in the same period in the prior year. Operating cash flow for the six months ended June 30, 2018 was $3.0 million, compared to
the prior year's operating cash flow for the first six months of $3.5 million. Non-GAAP free cash flow was $2.4 million for the six
months ended June 30, 2018, compared to $2.9 million in the same period in the prior year.
Digirad President and CEO Matt Molchan said, “Overall, our business performed well during the quarter. Total
revenue and non-GAAP adjusted EBITDA were both up year over year for the quarter and we generated $2.6 million of operating cash
flow during the quarter, which allowed us to reduce our overall net debt position by $0.5 million in the quarter. Diagnostic
Services led the way with a great quarter showing gains year over year in revenue and gross profit. Our continued, focused efforts
in our interim rental business within Mobile Healthcare have yielded significant gains as well, with quarterly interim sales
increasing 14% year over year." Molchan continued, “Timing of camera sales did impact our top line in Diagnostic Imaging, but
a good mix of higher profit camera sales resulted in higher gross profit and gross margin in the quarter on a year over year
basis.”
The Company also announces a cash dividend of $0.055 cents per share that will be paid on August 30, 2018, to
shareholders of record on August 16, 2018.
2018 Financial Guidance
The Company reaffirms its previously announced fiscal year 2018 financial guidance, which is to generate
revenues from continuing operations of between $100 and $105 million, non-GAAP adjusted EBITDA of between $8.5 and $9.5 million,
and free cash flow between $4 and $5 million.
Conference Call Information
A conference call is scheduled for 11:00 a.m. EDT on August 2, 2018 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) five minutes prior to the
scheduled start time and referencing Digirad. A simultaneous webcast of the call may be accessed online from the Events &
Presentations link on the Investor Relations page at http://drad.client.shareholder.com; an archived replay of the webcast will be
available within 15 minutes of the end of the conference call.
Use of Non-GAAP Financial Measures by Digirad Corporation
This Digirad news release presents the non-GAAP financial measures “adjusted net income(loss),” “adjusted net
income(loss) per diluted share,” “free cash flow”, and “adjusted EBITDA.” The most directly comparable measure for these non-GAAP
financial measures are net income and diluted net income per share. The Company has included below unaudited adjusted financial
information, which presents the Company's results of operations after excluding acquired intangible asset amortization, acquisition
related contingent consideration adjustments, unrealized gain(loss) on available-for-sale securities, and non-recurring related
income tax adjustments. Further excluded in the measure of adjusted EBITDA are interest, taxes, depreciation, amortization and
stock-based compensation.
A discussion of the reasons why management believes that the presentation of non-GAAP financial measures
provides useful information to investors regarding Digirad's financial condition and results of operations is included as Exhibit
99.2 to Digirad's report on Form 8-K filed with the Securities and Exchange Commission on August 2, 2018.
About Digirad Corporation
Digirad delivers convenient, effective, and efficient healthcare solutions on an as needed, when needed, and where needed basis.
Digirad’s diverse portfolio of mobile healthcare solutions and diagnostic imaging equipment and services, provides hospitals,
physician practices, and imaging centers through the United States access to technology and services necessary to provide
exceptional patient care in the rapidly changing healthcare environment. For more information, please visit www.digirad.com.
Forward-Looking Statements
This press release contains statements that are forward-looking statements as defined within the Private
Securities Litigation Reform Act of 1995. Some of these forward-looking statements can be identified by the use of forward-looking
words such as “believes,” “expects,” “may,” “will,” “should,” “seek,” “approximately,” “intends,” “plans,” “estimates,” or
“anticipates,” or the negative of those words or other comparable terminology, or in specific statements such as the Company's
ability to deliver value to customers, the ability to grow and generate positive cash flow, the ability to execute on restructuring
activities, and ability to successfully execute acquisitions. These forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from the statements made. These risks are detailed in Digirad's
filings with the U.S. Securities and Exchange Commission, including the Annual Report on Form 10-K, Quarterly Reports on Form 10-Q,
Current Reports on Form 8-K and other reports. Readers are cautioned to not 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 the forward-looking statements contained
herein.
(Financial tables follow)
| |
| |
| Digirad Corporation |
| Condensed Consolidated Statements
of Operations |
| (Unaudited) |
| |
| |
Three Months Ended |
|
Six Months Ended |
| |
June 30, |
|
June 30, |
| (in thousands, except per share
amounts) |
2018 |
|
2017 |
|
2018 |
|
2017 |
| Revenues: |
|
|
|
|
|
|
|
| Services |
$ |
24,324 |
|
|
$ |
23,742 |
|
|
$ |
46,947 |
|
|
$ |
46,799 |
|
| Product and product-related |
2,756 |
|
|
2,943 |
|
|
5,598 |
|
|
5,726 |
|
| Total revenues |
27,080 |
|
|
26,685 |
|
|
52,545 |
|
|
52,525 |
|
| Cost of revenues: |
|
|
|
|
|
|
|
| Services |
20,023 |
|
|
19,105 |
|
|
39,284 |
|
|
37,688 |
|
| Product and product-related |
1,490 |
|
|
1,892 |
|
|
3,087 |
|
|
3,547 |
|
| Total cost of revenues |
21,513 |
|
|
20,997 |
|
|
42,371 |
|
|
41,235 |
|
| Gross profit |
5,567 |
|
|
5,688 |
|
|
10,174 |
|
|
11,290 |
|
| Total gross profit
percentage |
20.6 |
% |
|
21.3 |
% |
|
19.4 |
% |
|
21.5 |
% |
| Services gross profit
percentage |
17.7 |
% |
|
19.5 |
% |
|
16.3 |
% |
|
19.5 |
% |
| Product and product-related gross profit
percentage |
45.9 |
% |
|
35.7 |
% |
|
44.9 |
% |
|
38.1 |
% |
| Operating expenses: |
|
|
|
|
|
|
|
| Marketing and sales |
1,461 |
|
|
1,596 |
|
|
2,928 |
|
|
3,379 |
|
| General and administrative |
3,522 |
|
|
5,717 |
|
|
7,914 |
|
|
10,613 |
|
| Amortization of intangible assets |
356 |
|
|
373 |
|
|
713 |
|
|
747 |
|
| Goodwill impairment |
476 |
|
|
— |
|
|
476 |
|
|
— |
|
| Total operating expenses |
5,815 |
|
|
7,686 |
|
|
12,031 |
|
|
14,739 |
|
| Loss from operations |
(248 |
) |
|
(1,998 |
) |
|
(1,857 |
) |
|
(3,449 |
) |
| Other expense: |
|
|
|
|
|
|
|
| Other expense, net |
(19 |
) |
|
— |
|
|
(36 |
) |
|
— |
|
| Interest expense, net |
(189 |
) |
|
(227 |
) |
|
(363 |
) |
|
(420 |
) |
| Loss on extinguishment of debt |
— |
|
|
(709 |
) |
|
(43 |
) |
|
(709 |
) |
| Total other expense |
(208 |
) |
|
(936 |
) |
|
(442 |
) |
|
(1,129 |
) |
| Loss before income taxes |
(456 |
) |
|
(2,934 |
) |
|
(2,299 |
) |
|
(4,578 |
) |
| Income tax (expense) benefit |
106 |
|
|
88 |
|
|
561 |
|
|
(519 |
) |
| Loss from continuing operations, net of tax |
(350 |
) |
|
(2,846 |
) |
|
(1,738 |
) |
|
(5,097 |
) |
| Income from discontinued operations, net of tax |
— |
|
|
74 |
|
|
5,494 |
|
|
249 |
|
| Net (loss) income |
$ |
(350 |
) |
|
$ |
(2,772 |
) |
|
$ |
3,756 |
|
|
$ |
(4,848 |
) |
| |
|
|
|
|
|
|
|
| Net (loss) income per share - basic and diluted |
|
|
|
|
|
|
|
| Continuing operations |
$ |
(0.02 |
) |
|
$ |
(0.14 |
) |
|
$ |
(0.09 |
) |
|
$ |
(0.26 |
) |
| Discontinued operations |
$ |
— |
|
|
$ |
— |
|
|
$ |
0.27 |
|
|
$ |
0.01 |
|
| Net (loss) income per share - basic and diluted (1) |
$ |
(0.02 |
) |
|
$ |
(0.14 |
) |
|
$ |
0.19 |
|
|
$ |
(0.24 |
) |
| Dividends declared per common share |
$ |
0.055 |
|
|
$ |
0.05 |
|
|
$ |
0.11 |
|
|
$ |
0.10 |
|
| Weighted average shares outstanding – basic and diluted |
20,119 |
|
|
19,979 |
|
|
20,106 |
|
|
19,957 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
(1) Earnings per share may not add due to rounding.
| |
| |
| Digirad Corporation |
| Condensed Consolidated Balance
Sheets |
| (Unaudited) |
| |
| |
| |
| |
June 30, |
|
December 31, |
| (in thousands, except share data) |
2018 |
|
2017 |
| Assets: |
|
|
|
| Current assets: |
|
|
|
| Cash and cash equivalents |
$ |
1,410 |
|
|
$ |
|
1,877 |
|
| Securities available-for-sale |
96 |
|
|
97 |
|
| Accounts receivable, net |
12,581 |
|
|
15,887 |
|
| Inventories, net |
5,992 |
|
|
5,501 |
|
| Restricted cash |
243 |
|
|
242 |
|
| Other current assets |
2,174 |
|
|
1,972 |
|
| Total current assets |
22,496 |
|
|
25,576 |
|
| Property and equipment, net |
25,664 |
|
|
28,365 |
|
| Intangible assets, net |
7,116 |
|
|
7,830 |
|
| Goodwill |
1,916 |
|
|
2,392 |
|
| Restricted cash |
101 |
|
|
101 |
|
| Non-current assets held for sale |
— |
|
|
1,736 |
|
| Other assets |
582 |
|
|
703 |
|
| Total assets |
$ |
57,875 |
|
|
$ |
|
66,703 |
|
| |
|
|
|
| Liabilities: |
|
|
|
| Current liabilities: |
|
|
|
| Accounts payable |
$ |
5,313 |
|
|
$ |
|
5,207 |
|
| Accrued compensation |
4,122 |
|
|
5,507 |
|
| Accrued warranty |
157 |
|
|
204 |
|
| Deferred revenue |
1,646 |
|
|
2,302 |
|
| Current liabilities held for sale |
— |
|
|
835 |
|
| Other current liabilities |
2,342 |
|
|
2,915 |
|
| Total current liabilities |
13,580 |
|
|
16,970 |
|
| Long-term debt |
12,500 |
|
|
19,500 |
|
| Deferred tax liabilities |
372 |
|
|
254 |
|
| Other liabilities |
1,784 |
|
|
2,180 |
|
| Total liabilities |
28,236 |
|
|
38,904 |
|
| |
|
|
|
| Stockholders’ equity: |
|
|
|
| Preferred stock, $0.0001 par value: 10,000,000 shares
authorized; no shares issued or outstanding |
— |
|
|
— |
|
| Common stock, $0.0001 par value: 80,000,000 shares
authorized; 20,119,318 and 20,060,311 shares issued and outstanding (net of treasury shares) at June 30, 2018 and
December 31, 2017, respectively |
2 |
|
|
2 |
|
| Treasury stock, at cost; 2,588,484 shares at June 30,
2018 and December 31, 2017 |
(5,728 |
) |
|
(5,728 |
) |
| Additional paid-in capital |
146,247 |
|
|
148,163 |
|
| Accumulated other comprehensive loss |
(22 |
) |
|
(5 |
) |
| Accumulated deficit |
(110,860 |
) |
|
(114,633 |
) |
| Total stockholders’ equity |
29,639 |
|
|
27,799 |
|
| Total liabilities and stockholders’
equity |
$ |
57,875 |
|
|
$ |
|
66,703 |
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Digirad Corporation |
| Reconciliation of Non-GAAP
Financial Measures |
| (Unaudited) |
| |
| |
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
| (in thousands, except per share
amounts) |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
| |
|
|
|
|
|
|
|
|
|
| Net loss from continuing operations |
|
$ |
(350 |
) |
|
$ |
(2,846 |
) |
|
$ |
(1,738 |
) |
|
$ |
(5,097 |
) |
| |
Acquired intangible amortization |
|
356 |
|
|
373 |
|
|
713 |
|
|
747 |
|
| |
Acquisition related contingent consideration valuation adjustment
(1) |
|
— |
|
|
— |
|
|
— |
|
|
(57 |
) |
| |
Unrealized loss on available-for-sale securities (2) |
|
19 |
|
|
— |
|
|
36 |
|
|
— |
|
| |
Litigation reserve (3) |
|
— |
|
|
1,339 |
|
|
— |
|
|
1,339 |
|
| |
Restructuring costs (4) |
|
— |
|
|
— |
|
|
97 |
|
|
— |
|
| |
Loss on extinguishment of debt |
|
— |
|
|
709 |
|
|
43 |
|
|
709 |
|
| |
Goodwill impairment (5) |
|
476 |
|
|
— |
|
|
476 |
|
|
— |
|
| |
Income tax items (6) |
|
(106 |
) |
|
(88 |
) |
|
(561 |
) |
|
519 |
|
| Non-GAAP adjusted net income (loss) from continuing
operations |
|
$ |
395 |
|
|
$ |
(513 |
) |
|
$ |
(934 |
) |
|
$ |
(1,840 |
) |
| |
|
|
|
|
|
|
|
|
|
| Net loss per diluted share from continuing
operations (7) |
|
$ |
(0.02 |
) |
|
$ |
(0.14 |
) |
|
$ |
(0.09 |
) |
|
$ |
(0.26 |
) |
| |
Acquired intangible amortization |
|
0.02 |
|
|
0.02 |
|
|
0.04 |
|
|
0.04 |
|
| |
Acquisition related contingent consideration valuation adjustment
(1) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| |
Unrealized loss on available-for-sale securities (2) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| |
Litigation reserve (3) |
|
— |
|
|
0.07 |
|
|
— |
|
|
0.07 |
|
| |
Restructuring costs (4) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| |
Loss on extinguishment of debt |
|
— |
|
|
0.04 |
|
|
— |
|
|
0.04 |
|
| |
Goodwill impairment (5) |
|
0.02 |
|
|
— |
|
|
0.02 |
|
|
— |
|
| |
Income tax items (6) |
|
(0.01 |
) |
|
— |
|
|
(0.03 |
) |
|
0.03 |
|
| Non-GAAP adjusted net income (loss) per diluted
share from continuing operations (7) |
|
$ |
0.02 |
|
|
$ |
(0.03 |
) |
|
$ |
(0.05 |
) |
|
$ |
(0.09 |
) |
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
| (in thousands) |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
| |
|
|
|
|
|
|
|
|
|
| Net loss from continuing operations |
|
$ |
(350 |
) |
|
$ |
(2,846 |
) |
|
$ |
(1,738 |
) |
|
$ |
(5,097 |
) |
| |
Acquisition related contingent consideration valuation adjustment
(1) |
|
— |
|
|
— |
|
|
— |
|
|
(57 |
) |
| |
Unrealized loss on available-for-sale securities (2) |
|
19 |
|
|
— |
|
|
36 |
|
|
— |
|
| |
Goodwill impairment (5) |
|
476 |
|
|
— |
|
|
476 |
|
|
— |
|
| |
Litigation reserve (3) |
|
— |
|
|
1,339 |
|
|
— |
|
|
1,339 |
|
| |
Loss on extinguishment of debt |
|
— |
|
|
709 |
|
|
43 |
|
|
709 |
|
| |
Depreciation and amortization |
|
2,288 |
|
|
2,374 |
|
|
4,553 |
|
|
4,740 |
|
| |
Stock-based compensation |
|
171 |
|
|
293 |
|
|
372 |
|
|
548 |
|
| |
Interest expense, net |
|
189 |
|
|
227 |
|
|
363 |
|
|
420 |
|
| |
Income tax expense (benefit) |
|
(106 |
) |
|
(88 |
) |
|
(561 |
) |
|
519 |
|
| Non-GAAP adjusted EBITDA from continuing
operations |
|
$ |
2,687 |
|
|
$ |
2,008 |
|
|
$ |
3,544 |
|
|
$ |
3,121 |
|
| |
|
|
|
|
|
|
|
|
|
(1) Reflects fair value adjustment to estimate of contingent consideration related to
acquisitions.
(2) Reflects change in fair value on equity investments classified as available-for-sale.
(3) Reflects legal settlement for wage and hour litigation in 2017.
(4) Reflects severance related costs.
(5) Reflects impairment of goodwill for Telerhythmics reporting unit.
(6) The Company has a significant tax NOL that is offset by a full valuation allowance recorded in the fourth
quarter of 2017 in
the GAAP consolidated financial statements. As a result, for purposes of non-GAAP measures, we utilized a 0% effective tax rate
for both periods.
(7) Per share amounts are computed independently for each discrete item presented. Therefore, the sum of the
quarterly per share amounts will not necessarily equal to the total for the year, and sum of individual items may not equal the
total.
| |
| |
| Digirad Corporation |
| Reconciliation of Operating Cash
Flow to Free Cash Flow |
| (Unaudited) |
| |
| |
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
| (in thousands) |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
| Net cash provided by operating activities |
|
$ |
2,621 |
|
|
$ |
1,570 |
|
|
$ |
3,041 |
|
|
$ |
3,494 |
|
| Purchases of property and equipment, net of dispositions |
|
(433 |
) |
|
(130 |
) |
|
(594 |
) |
|
(615 |
) |
| Free cash flow |
|
$ |
2,188 |
|
|
$ |
1,440 |
|
|
$ |
2,447 |
|
|
$ |
2,879 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Digirad Corporation |
| Supplemental Debt
Information |
| (Unaudited) |
| |
| The following table reflects outstanding principal
balances and interest rates for the Company's debt at June 30, 2018 and December 31, 2017: |
| |
| |
|
June 30, 2018 |
|
December 31, 2017 |
| (in thousands) |
|
Balance |
|
Interest
Rate |
|
Balance |
|
Interest
Rate |
| Revolving Credit Facility (1) |
|
$ |
12,500 |
|
|
4.44 |
% |
|
$ |
19,500 |
|
|
3.90 |
% |
| Total borrowings |
|
$ |
12,500 |
|
|
|
|
$ |
19,500 |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
(1) A Revolving Credit Agreement was entered into with Comerica Bank on June 21, 2017. The
agreement consists of a revolving credit facility with a five-year term, maturing on June 21, 2022.
| |
| |
Digirad Corporation
Supplemental Segment Information
(Unaudited) |
| |
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
| (in thousands) |
2018 |
|
2017 (1) |
|
2018 |
|
2017 (1) |
| Diagnostic Services |
$ |
13,267 |
|
|
$ |
12,559 |
|
|
$ |
25,292 |
|
|
$ |
24,761 |
|
| Diagnostic Imaging |
2,756 |
|
|
2,943 |
|
|
5,598 |
|
|
5,726 |
|
| Mobile Healthcare |
11,057 |
|
|
11,183 |
|
|
21,655 |
|
|
22,038 |
|
| Condensed consolidated revenue |
$ |
27,080 |
|
|
$ |
26,685 |
|
|
$ |
52,545 |
|
|
$ |
52,525 |
|
| Diagnostic Services |
$ |
2,969 |
|
|
$ |
2,730 |
|
|
$ |
5,216 |
|
|
$ |
5,566 |
|
| Diagnostic Imaging |
1,266 |
|
|
1,051 |
|
|
2,511 |
|
|
2,179 |
|
| Mobile Healthcare |
1,332 |
|
|
1,907 |
|
|
2,447 |
|
|
3,545 |
|
| Condensed consolidated gross profit |
$ |
5,567 |
|
|
$ |
5,688 |
|
|
$ |
10,174 |
|
|
$ |
11,290 |
|
| Income (loss) from continuing operations by segment: |
|
|
|
|
|
|
|
| Diagnostic Services |
$ |
804 |
|
|
$ |
139 |
|
|
$ |
514 |
|
|
$ |
155 |
|
| Diagnostic Imaging |
(132 |
) |
|
(471 |
) |
|
(336 |
) |
|
(908 |
) |
| Mobile Healthcare |
(444 |
) |
|
(327 |
) |
|
(1,559 |
) |
|
(1,357 |
) |
Segment income (loss) from continuing operations
|
$ |
228 |
|
|
$ |
(659 |
) |
|
$ |
(1,381 |
) |
|
$ |
(2,110 |
) |
| Litigation reserve (2) |
— |
|
|
(1,339 |
) |
|
— |
|
|
(1,339 |
) |
| Goodwill impairment (3) |
(476 |
) |
|
— |
|
|
(476 |
) |
|
— |
|
| Condensed consolidated loss from continuing operations |
$ |
(248 |
) |
|
$ |
(1,998 |
) |
|
$ |
(1,857 |
) |
|
$ |
(3,449 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Segment information has been recast for all periods presented to reflect the MDSS disposition as discontinued
operations. As certain shared function costs previously allocated to MDSS are not allocable to discontinued operations, prior
period corporate costs have been re-allocated amongst the continuing reportable segments.
(2) Reflects legal settlement reserve for wage and hour litigation
(3) Reflects goodwill impairment adjustment for Telerhythmics reporting unit.
For more information contact:
Matthew G. Molchan
Chief Executive Officer
858-726-1600
ir@digirad.com
