Digirad Corporation to Release First Quarter 2020 Financial Results on May 15, 2020
May 06 2020 - 8:00AM
Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the
“Company”) will release its financial results for the first quarter
ended March 31, 2020, before the market opens
on Friday, May 15, 2020.
A conference call is scheduled for 11:00
a.m. ET (8:00 a.m. PT) on May 15, 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
DivisionDigirad Healthcare designs, manufactures, and
distributes diagnostic medical imaging products. Digirad
Healthcare 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.
Building & Construction Division
(ATRM)ATRM Holdings, Inc. (“ATRM”) manufactures modular
housing units for commercial and residential applications.
ATRM 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.,
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”). KBS, EdgeBuilder, and Glenbrook are
wholly-owned subsidiaries of ATRM, which is a wholly-owned
subsidiary of Digirad.
Real Estate & Investments
DivisionThis business division manages the Company’s real
estate assets 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 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’s
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 in 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 in 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’s
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 of ATRM, 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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