Nuclear medicine firm Digirad said revenue and net income dipped slightly in the company's second quarter (end-June 30), while its net loss grew as the firm spent $600,000 on a stock buyback, $200,000 on legal expenses, and more on R&D as it explores ways to drive product sales growth.
Total revenue for the quarter was $12.7 million, down 11% compared to $14.2 million for the same period in the prior year. Product revenue for the second quarter of 2012 was $3.3 million, compared with $4.3 million for the same period a year ago, Digirad said. The firm posted a second-quarter net loss of $900,000, compared with a net loss of $200,000 in the same period of 2011.
Growth in its services business continued during the second quarter, with positive cash flow and revenue growth for that sector, while demand for gamma cameras remained stable, despite lower revenues in the product side of the business, according to the company.
