Growth from its Telerhythmics business helped nuclear medicine firm Digirad achieve a double-digit increase in revenues in the third quarter (end-September 30).
Total revenues for the third quarter increased 14% to $15.9 million, compared with $13.9 million in the third quarter of 2014. Adjusted net income rose to $1.5 million, compared with adjusted net income of $1.2 million in the same quarter a year ago. The company's unadjusted net income was $19.1 million, the result of an accounting change in how the company handles tax net operating loss (NOL) carry forwards.
For the first nine months of 2015, total revenues increased 9% to $45.2 million, compared with $41.5 million in the same period of 2014. Adjusted net income climbed to $3.2 million from $2.6 million in 2014.
The company's Diagnostic Services business performed well for the quarter, particularly its Telerhythmics segment, noted Digirad President and CEO Matt Molchan. Digirad acquired cardiac event monitoring firm Telerhythmics in 2014.
Digirad expects total revenues for all of 2015 to range from $61 million to $63 million.
