The year-long medical isotope shortage and significant physician reimbursement reductions contributed to reduced revenue for nuclear medicine firm Digirad in fourth-quarter and year-end financial results (end-December 31).
Total revenue for the fourth quarter of 2010 was $14.7 million, down 10% compared to $16.4 million in the same quarter of 2009; total revenue for the prior quarter was $13.3 million. Revenue from the company's Digirad Imaging Solutions (DIS) business for the fourth quarter of 2010 was $9.4 million, down 21% compared to $12 million for the prior year; revenue was $9.6 million in the prior quarter.
Net loss for the fourth quarter was $600,000, compared with net income of $200,000 in the prior year and a net loss of $1.3 million in the prior quarter, the company said.
For the year, total revenue was $56.2 million, down 19% compared to $69.6 million in 2009. Revenue in 2010 from DIS was $39.5 million, down 24% compared to $52.3 million for 2009. For the year, the company sustained a net loss of $6.2 million, compared with net income of $600,000 in 2009.