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DRAD

Digirad Corporation NASDAQ Global Market
$3.42
Open: $0.00 High: $0.00 Low: $0.00 Close: $0.00
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DRAD
Digirad Corporation 1048 Industrial Court Suwanee GA, 30024 http://www.digirad.com
Digirad Corp develops nuclear technology for mobile cardiovascular imaging for various application. The company commercialized the first nuclear gamma camera and offers its products to doctors' offices and hospitals.
  • CEO: Matthew G. Molchan
  • Employees: 515
  • Sector: Healthcare
  • Industry: Medical Devices
DRAD News
Latest news about the DRAD
  • Digirad Corporation Changes Corporate Name to Star Equity Holdings, Inc.

    Name Change Effective as of January 1, 2021  No Change to Names of Customer-Facing BusinessesSUWANEE, Ga., Dec. 28, 2020 (GLOBE NEWSWIRE) -- Digirad Corporation (Nasdaq: DRAD; DRADP) (the “Company”), a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments, announced today that it has changed its corporate name to Star Equity Holdings, Inc. (“Star Equity Holdings”) with an effective date of January 1, 2021 (“Effective Date”). The website for Star Equity Holdings will be www.starequity.com. In connection with the corporate name change, the Company’s Common Stock will begin trading under the new ticker symbol “STRR” and have a CUSIP of 85513Q103, and the Company’s Series A Cumulative Perpetual Preferred Stock will begin trading under the new ticker symbol “STRRP” and have a CUSIP of 85513Q202 at the opening of trading on January 4, 2021. On the Effective Date the Company’s outstanding warrants expiring on May 28, 2025 will have a CUSIP of 85513Q111. The corporate name change does not affect the rights of the Company’s stockholders.Names of the Company’s customer-facing businesses will not change. The Company’s Healthcare division, for example, will continue to operate under the brand names “Digirad” and “Digirad Health”, thus there will be no noticeable change for clients or employees of Digirad. The website for Digirad, the healthcare division, will continue to be www.digirad.com. The Company’s Building & Construction division, which is operated under the Company’s wholly owned subsidiary, ATRM Holdings, Inc. (“ATRM”), will now be doing business as “Star Building & Construction.”Furthermore, on the Effective Date, Matt Molchan, the Company’s current CEO, will become CEO of Digirad Health, Inc. David Noble will remain the Company’s COO and CFO. Jeff Eberwein, the Company’s Chairman of the Board, will move into the role of Executive Chairman. Mitch Quain, a director of the Company since January 2019, will become the Lead Independent Director for Star Equity Holdings.   Also on the Effective Date, the Company’s headquarters will change to Old Greenwich, CT, but no employees will move locations as a result of this change. Digirad’s headquarters will remain Suwanee, GA with substantial operations in Poway, CA.Mr. Eberwein noted, “The new name reflects our business strategy and vision for continued growth. In 2020, we made tremendous progress on our growth and value maximization strategy by improving operating and financial results at our Building & Construction division and by entering into an agreement to sell DMS Health, the Company’s Mobile Healthcare Business, for $18.75 million. Proceeds from this sale will substantially improve our balance sheet and better position us to fund high-return organic growth investments and pursue acquisitions. Potential acquisitions could be bolt-ons for our existing businesses or an entry into an entirely new business sector.”About Star Equity Holdings, Inc. The Company is a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments.Healthcare Division Digirad Health designs, manufactures, and distributes diagnostic medical imaging devices and services and operates in three businesses: Diagnostic Imaging, Diagnostic Services, and Mobile Healthcare. The Diagnostic Imaging business designs, manufactures, and sells proprietary solid-state gamma cameras and services the installed base. The Diagnostic Services business offers imaging and monitoring services to healthcare providers as an alternative to purchasing equipment or outsourcing procedures. The Mobile Healthcare business provides contract diagnostic imaging and nuclear medicine and healthcare expertise through a convenient, mobile service.Building & Construction Division Star Building & Construction manufactures modular housing units for commercial and residential real estate projects and 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. (“KBS”), 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 all wholly-owned subsidiaries of ATRM and indirect wholly-owned subsidiaries of Star Equity Holdings.Real Estate & Investments Division This business division manages the Company’s real estate assets and investments.Forward-Looking Statements Disclaimer Statement “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 the Company 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; legal, regulatory, political and economic risks in markets and public health crises that reduce economic activity and cause restrictions on operations (including the recent coronavirus COVID-19 outbreak); the length of time associated with servicing customers; losses of significant contracts or failure to get potential contracts being discussed; disruptions in the relationship with third party vendors; accounts receivable turnover; insufficient cash flows and resulting lack of 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, as well as factors related to the Company’s business 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:  CompanyThe Equity Group Jeffrey E. EberweinLena Cati ChairmanThe Equity Group 203-489-9501212-836-9611 admin@starequity.comlcati@equityny.com

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  • Digirad Corporation's (NASDAQ:DRAD) Path To Profitability

    With the business potentially at an important milestone, we thought we'd take a closer look at Digirad Corporation's...

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  • Digirad Corporation to Present at Investor Conferences in November

    SUWANEE, Ga., Nov. 13, 2020 (GLOBE NEWSWIRE) -- Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the “Company”), a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments, today announced that its management team will participate at the following investors conferences: * November 17: Craig-Hallum Alpha Select Virtual Conference * November 18: The Benchmark Company Discovery One on One Virtual Investor ConferenceDigirad’s management will be hosting virtual meetings with investors during both days. Investors can download a PDF copy of the presentation by visiting Digirad’s Investor Relations section of the website: http://ir.digirad.com/About Digirad Corporation Digirad Corporation is a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments.Healthcare Division (Digirad Health) Digirad Health designs, manufactures, and distributes diagnostic medical imaging products. Digirad Health 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 procedure. 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. (“KBS”), 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 Division This business division manages the Company’s real estate assets and investments.Forward-Looking Statements Disclaimer Statement “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; legal, regulatory, political and economic risks in markets and public health crises that reduce economic activity and cause restrictions on operations (including the recent coronavirus COVID-19 outbreak); the length of time associated with servicing customers; losses of significant contracts or failure to get potential contracts being discussed; 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 CorporationThe Equity Group Jeffrey E. EberweinLena Cati Chairman of the BoardThe Equity Group 203-489-9501212-836-9611 ir@digirad.comlcati@equityny.com

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  • Digirad Corporation Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2020

    SUWANEE, Ga., Nov. 13, 2020 (GLOBE NEWSWIRE) -- Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the “Company”) reported today its financial results for the third quarter (Q3) and nine months (9M) ended September 30, 2020. Q3 2020 Financial Highlights vs. Q3 2019* * Total revenue increased to $30.4 million from $28.3 million * Gross profit decreased to $4.8 million from $5.2 million * Net loss from continuing operations was $1.8 million (or $0.37 per basic and diluted share) compared to a net loss of continuing operations $1.5 million (or $0.74 per basic and diluted share) ** * Non-GAAP adjusted EBITDA from continuing operations decreased to $1.1 million from $2.0 million * Non-GAAP free cash outflow of $2.2 million versus inflow of $0.4 million * Cash and cash equivalents and restricted cash of $4.4 million versus $1.7 million and net debt of $18.9 million versus $21.4 million9M 2020 Financial Highlights vs. 9M 2019* * Total revenue increased to $81.6 million from $78.0 million * Gross profit decreased to $13.3 million from $14.2 million * Net loss from continuing operations was $6.0 million (or $1.83 per basic and diluted share) compared to a net loss from continuing operations of $4.6 million (or $2.27 per basic and diluted share) ** * Non-GAAP adjusted EBITDA from continuing operations decreased to $3.4 million from $4.9 million * Non-GAAP free cash outflow of $2.3 million versus inflow of $1.6 million* Since September 10, 2019, Digirad has been operating as a diversified holding company (“HoldCo”) with three divisions: Healthcare, Building & Construction, and Real Estate & Investments. Digirad’s Q3 2020 and 9M 2020 results include financial and operational data for the two newly created divisions - Building & Construction and Real Estate & Investments. Partial operational and financial data were recorded in the 2019 corresponding periods for these two divisions. ** In May 28, 2020, Digirad completed a public offering through the issuance of 2,225,000 shares of its common stock. Per share amounts for Q3 2020 and 9M 2020 periods, reflect the new share count. For the nine months ended September 30, 2020, there were 395,140 warrants exercised and converted into 197,570 shares of common stock.Subsequent to the end of the quarter, the Company entered into a Stock Purchase Agreement (“Agreement”) with Knob Creek Acquisition Corp., to sell its DMS Health Technologies, Inc. (“DMS Health”) business unit. The initial purchase price under the Agreement is $18.75 million. The Agreement is subject to customary closing conditions and is expected to close in January 2021.Jeff Eberwein, Chairman of Digirad, noted, “Our Q3 2020 operating and financial results continued to be impacted by the slowdown due to COVID-19. Although doctor offices and hospitals started to return to normal operations in Q3, activity levels remained below normal during the quarter, causing our Healthcare division’s revenue and gross profit to be lower than the prior year quarter. Our Diagnostic Services business has begun to rebound, but our Diagnostic Imaging business has seen a slowdown in camera sales due to purchase delays related to capital funding decisions driven by the pandemic.”“Our Building & Construction division has significant momentum as shown by Q3 revenue increasing 70% versus the preceding quarter. KBS Builders, Inc. (“KBS”), our modular building manufacturing business focused on the Northeast, increased production at its South Paris, Maine plant in Q3 due to recently won commercial projects. In addition, KBS recently re-opened an ancillary building at its previously idle Oxford, Maine plant to manufacture wall panels for the New England market, creating a new business line for KBS. Because of the strong demand outlook for KBS, we are studying ways to increase our production capacity and are excited about the outlook for this business.”Mr. Eberwein concluded, “We continue to execute on our HoldCo growth strategy and value enhancement initiatives to maximize stockholder value. Our HoldCo structure allows division CEOs to focus on operations and organic growth while HoldCo management focuses on corporate strategy and capital allocation. In addition to looking for attractive bolt-on acquisitions for our existing operating businesses, we are also looking to create new business divisions in the future through the disciplined acquisition of businesses complementary to our HoldCo structure. Furthermore, the sale of DMS Health, once completed, will substantially improve our balance sheet and better position us to fund high-return internal growth investments and pursue acquisitions.”RevenueThe Company’s total Q3 2020 revenue increased by 7.1% to $30.4 million from $28.3 million in the third quarter of the prior year. 9M 2020 total revenue of $81.6 million increased by 4.5% from 9M 2019 revenue of $78.0 million.Revenue in $ thousandsQ3 2020 Q3 2019 % change 9M 2020 9M 2019 % change Healthcare$21,794  $25,596  (14.9)% $62,441  $75,306  (17.1)% Building & Construction8,542  2,729  213.0% 19,061  2,729  598.5% Real Estate & Investments175  43  307.0% 525  43  1,120.9% Corporate, eliminations and other(158) (35) 351.4% (475) (35) 1,257.1% Total Revenue$30,353  $28,333  7.1% $81,552  $78,043  4.5%                        Revenue for the Healthcare division for Q3 2020 decreased from Q3 2019 by $3.8 million due to the slowdown related to the COVID-19 pandemic. Although many doctor offices have reopened and many hospitals have started to once again perform non-emergency procedures, activity remains below pre-COVID levels.The increase in revenue for the Building & Construction division was due to a full quarter of operational and financial data in Q3 2020 compared to only a partial quarter in 2019 and an increase in KBS activity levels due to $2.2 million revenue recognized from recently won commercial projects. More importantly, in Q3 2020, Building & Construction division revenue increased to $8.5 million from $5.0 million Q2 2020, representing a 70% increase.Gross ProfitGross Profit in $ thousandsQ3 2020 Q3 2019 % change 9M 2020 9M 2019 % change Healthcare$3,630  $4,777  (24.0)% $10,739  $13,939  (23.0)% Building & Construction1,253  477  162.7% 2,709  477  467.9% Real Estate & Investments110  (23) (578.3)% 329  (200) (264.5)% Corporate, eliminations and other(158) (35) 351.4% (475) (35) 1,257.1% Total Gross Profit$4,835  $5,196  (6.9)% $13,302  $14,181  (6.2)%                        Q3 2020 gross profit for the Healthcare division decreased by 24.0% from the prior year’s quarter due to reduced revenue as a result of the COVID-19 pandemic. Additionally, some costs remained fairly constant such as employee costs, insurance, workers compensation, rents, utilities, and repairs and maintenance. Q3 2020 gross profit for Building & Construction division increased by 162.7% from the prior year’s quarter due to a full quarter in 2020 versus a partial quarter in 2019 and increased production activity due to recently won commercial projects.Operating ExpensesQ3 2020 marketing, sales, general and administrative (MSG&A) expenses increased by 12.5% or $0.6 million from the prior year period, mainly due an increase in expenses from including a full quarter of the Building & Construction division compared to only 20 days in three months ended September 30, 2019. Similarly, our 9M 2020 MSG&A expenses increased by 13.0% or $1.9 million, compared to the same period of 2019 due to an increase of $2.7 million of expenses from the Building & Construction division and offset by a $0.8 million decrease from the Digirad Health division.Non-GAAP Adjusted EBITDAQ3 2020 non-GAAP adjusted EBITDA from continuing operations decreased to $1.1 million from $2.0 million in the same quarter of the prior year due to lower revenue generated from high-margin mobile scanning services because of the COVID-19 pandemic. 9M 2020 non-GAAP adjusted EBITDA from continuing operations decreased to $3.4 million, compared to $4.9 million in the prior year period, reflecting COVID-19 impact.Net LossQ3 2020 net loss from continuing operations was $1.8 million, or $0.37 per basic and diluted share, compared to net loss of $1.5 million, or $0.74 per basic and diluted share, in the same period in the prior year. Q3 2020 non-GAAP adjusted net loss from continuing operations was $0.9 million, or $0.19 per basic and diluted share, compared to adjusted net income from continuing operations of $14 thousand, or $0.01 per basic and diluted share, in the prior year period.9M 2020 net loss from continuing operations was $6.0 million, or $1.83 per basic and diluted share, compared to net loss from continuing operations of $4.6 million, or $2.27 per basic and diluted share, in the same period in the prior year. 9M 2020 non-GAAP adjusted net loss from continuing operations decreased to $2.9 million, or $0.89 per basic and diluted share, compared to adjusted net loss from continuing operations of $0.9 million, or $0.46 per basic and diluted share, in the prior year period.Operating cash flowQ3 2020 cash flow from operations was an outflow of $1.9 million, compared to an outflow of $1.1 million for the same period in the prior year due to increased investment in working capital to fund the revenue growth in the Building & Construction division. 9M 2020 cash flow from operations was an outflow of $1.9 million, compared to an outflow of $0.8 million for the prior year period.Free Cash FlowThe Company calculates a non-GAAP measure of free cash flow. The Company defines free cash flow as net cash provided by (used in) operating activities, less purchases of property and equipment, plus net dispositions of property and equipment, and the acquisition-related net working capital. The Company believes this measure of free cash flow provides management and investors further useful information about cash generation (or use) in our primary operations.Q3 2020 non-GAAP free cash flow was an outflow of $2.2 million, compared to an inflow of $0.4 million in the same quarter of the prior year period. 9M 2020 non-GAAP free cash flow was an outflow of $2.3 million, compared to an inflow of $1.6 million in the prior year period also due to increased investment in working capital to fund the revenue growth in the Building & Construction division.Net Operating Loss Carryforward (NOL)Digirad Corporation has approximately $91.6 million of usable net operating losses (“NOL”) in the U.S. as of year-end 2019, which the Company considers to be a very valuable asset for its stockholders. In order to protect the value of the NOL for all stockholders, the Company has a charter amendment in place limiting beneficial ownership of Digirad common stock to 4.99%. Stockholders who wish to own more than 4.99% of Digirad common stock, or who already own more than 4.99% of Digirad common stock and wish to buy more, may only acquire additional shares with the Board’s prior written approval.Conference Call InformationA conference call is scheduled for 11:00 a.m. ET (8:00 a.m. PT) on November 13, 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) 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://ir.digirad.com/events-presentations; an archived replay of the webcast will be available within 15 minutes of the end of the conference call.If you have any questions, either prior to or after our scheduled Earnings Conference call, please e-mail ir@digirad.com or lcati@equityny.com.Use of Non-GAAP Financial Measures by Digirad CorporationThis release presents the non-GAAP financial measures “adjusted net income (loss),” “adjusted net income (loss) per basic and diluted share,” “free cash flow”, and “adjusted EBITDA from continuing operations.” The most directly comparable measure for these non-GAAP financial measures are “net income and basic and diluted net income per share”, and “cash flows from operating activities”. The Company has included below unaudited adjusted financial information, which presents the Company’s results of operations after excluding acquired intangible asset amortization, one time transaction costs, litigation costs, restructuring costs, loss on sale of buildings, COVID-19 protection equipment, unrealized gain (loss) on available-for-sale securities, non-recurring costs related to sales and use tax and 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 November 13, 2020.About Digirad CorporationDigirad Corporation is a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments.Healthcare Division (Digirad Health)Digirad Health designs, manufactures, and distributes diagnostic medical imaging products and services.  Digirad Health operates in three businesses:  Diagnostic Imaging, Diagnostic Services, and Mobile Healthcare. The Diagnostic Imaging business designs, manufactures, and sells proprietary solid-state gamma cameras.  It also services the installed base of these proprietary cameras.  The Diagnostic Services business offers imaging and monitoring services to healthcare providers as an alternative to purchasing equipment or outsourcing procedures.  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.Building & Construction Division (ATRM)ATRM Holdings, Inc. (“ATRM”) manufactures modular housing units for commercial and residential real estate projects. 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. (“KBS”), 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; legal, regulatory, political and economic risks in markets and public health crises that reduce economic activity and cause restrictions on operations (including the recent coronavirus COVID-19 outbreak); the length of time associated with servicing customers; losses of significant contracts or failure to get potential contracts being discussed; disruptions in the relationship with third party vendors; accounts receivable turnover; insufficient cash flows and resulting lack of 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 Jeffrey E. Eberwein Chairman of the Board 203-489-9501 ir@digirad.com The Equity Group Lena Cati The Equity Group 212-836-9611 lcati@equityny.com     (Financial tables follow)Digirad Corporation Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (In thousands, except for per share amounts)  Three Months Ended September 30,  Nine Months Ended September 30,   2020 2019 2020 2019 Revenues:         Healthcare $21,794  $25,596  $62,441  $75,306  Building & Construction 8,542  2,729  19,061  2,729  Real Estate & Investments 17  8  50  8  Total revenues 30,353  28,333  81,552  78,043  Cost of revenues:         Healthcare 18,164  20,819  51,702  61,367  Building & Construction 7,289  2,252  16,352  2,252  Real Estate & Investments 65  66  196  243  Total cost of revenues 25,518  23,137  68,250  63,862  Gross profit 4,835  5,196  13,302  14,181  Operating expenses:         Marketing, sales and general and administrative expenses 5,566  4,948  16,545  14,648  Amortization of intangible assets 802  399  2,420  965  Merger and finance costs —  1,058  —  2,058  Total operating expenses 6,368  6,405  18,965  17,671  Loss from operations (1,533) (1,209) (5,663) (3,490) Other income (expense):         Other income (expense), net 135  3  967  (200) Interest expense, net (356) (292) (1,214) (727) Loss on sale of building —  (4) —  (236) Loss on extinguishment of debt —  —  —  (151) Total other expense (221) (293) (247) (1,314) Loss before income taxes (1,754) (1,502) (5,910) (4,804) Income tax (expense) benefit (6) (2) (90) 168  Net loss from continuing operations (1,760) (1,504) (6,000) (4,636) Net income from discontinued operations —  —  —  266  Net loss (1,760) (1,504) (6,000) (4,370) Deemed dividend on Series A redeemable preferred stock (474) (106) (1,442) (106) Net loss attributable to common shareholders $(2,234) $(1,610) $(7,442) $(4,476)                     Net loss per share, attributable to common shareholders — basic and diluted: $(0.47) $(0.79) $(2.27) $(2.20) Weighted-average shares outstanding – basic and diluted 4,724  2,046  3,280  2,038                      Net loss $(1,760) $(1,504) $(6,000) $(4,370) Other comprehensive income (loss):         Reclassification of tax provision impact —  —  —  22  Total other comprehensive income —  —  —  22  Comprehensive loss $(1,760) $(1,504) $(6,000) $(4,348)                   Digirad Corporation Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except share amounts) September 30, 2020 December 31, 2019 Assets:    Current assets:    Cash and cash equivalents$4,267  $1,821  Restricted cash169  240  Equity securities31  26  Accounts receivable, net15,751  18,571  Inventories, net9,000  7,097  Other current assets2,360  1,794  Total current assets31,578  29,549  Property and equipment, net18,129  22,138  Operating lease right-of-use assets4,631  4,827  Intangible assets, net20,484  22,903  Goodwill9,978  9,978  Other assets1,155  1,165  Total assets$85,955  $90,560       Liabilities, Mezzanine Equity and Stockholders’ Equity    Current liabilities:    Accounts payable$7,025  $8,932  Accrued compensation3,735  4,579  Accrued warranty237  421  Deferred revenue2,293  1,786  Short-term debt and current portion of long-term debt4,260  4,036  Payable to related parties2,155  1,920  Operating lease liabilities, current portion1,839  1,866  Other current liabilities3,355  4,638  Total current liabilities24,899  28,178  Long-term debt, net of current portion16,896  17,038  Deferred tax liabilities90  23  Operating lease liabilities, net of current portion2,881  3,073  Other liabilities1,031  1,551  Total liabilities45,797  49,863       Preferred stock, $0.0001 par value: 10,000,000 shares authorized: 10% Series A Cumulative Redeemable preferred stock, 8,000,000 shares liquidation preference ($10.00 per share), 1,915,637 shares issued or outstanding at September 30, 2020 and December 31, 2019, respectively21,041  19,602       Stockholders’ equity:    Common stock, $0.0001 par value: 30,000,000 shares authorized; 4,750,951 and 2,050,659 shares issued and outstanding (net of treasury shares) at September 30, 2020 and December 31, 2019, respectively—  —  Treasury stock, at cost; 258,849 shares at September 30, 2020 and December 31, 2019, respectively(5,728) (5,728) Additional paid-in capital149,374  145,352  Accumulated deficit(124,529) (118,529) Total stockholders’ equity19,117  21,095  Total liabilities, mezzanine equity and stockholders’ equity$85,955  $90,560           Digirad Corporation Reconciliation of Non-GAAP Financial Measures (Unaudited) (In thousands, except per share amounts)  Three Months Ended September 30, Nine Months Ended September 30,   2020 2019 2020 2019           Net loss from continuing operations $(1,760) $(1,504) $(6,000) $(4,636) Acquired intangible amortization 802  399  2,420  965  Unrealized gain on equity securities (1) (53) (6) (33) (29) Litigation costs (2) 65  —  244  —  Restructuring costs (3) —  60  —  122  Loss on extinguishment of debt —  —  —  151  Loss on sale of buildings —  4  —  236  Write-off of DMS assets due to litigation (4) 7  —  142  —  Write-off of Star Real Estate Holding assets —  —  —  143  Transaction cost (5) —  1,059  115  2,015  Write-off of preferred stock issuance cost (6) —  —  —  273  COVID-19 protection equipment (7) 17  —  46  —  Sales and use tax costs (8) —  —  73  —  Income tax expense (benefit) 6  2  90  (168) Non-GAAP adjusted net (loss) income from continuing operations $(916) $14  $(2,903) $(928)           Net loss per diluted share from continuing operations $(0.37) $(0.74) $(1.83) $(2.27) Acquired intangible amortization 0.17  0.20  0.74  0.47  Unrealized gain on equity securities (1) (0.01) —  (0.01) (0.01) Litigation costs (2) 0.01  —  0.07  —  Restructuring costs (3) —  0.03  —  0.06  Loss on extinguishment of debt —  —  —  0.07  Loss on sale of buildings —  —  —  0.12  Write-off of DMS assets due to litigation (4) —  —  0.04  —  Write-off of Star Real Estate Holding assets —  —  —  0.07  Transaction cost (5) —  0.52  0.04  0.99  Write-off of preferred stock issuance cost (6) —  —  —  0.13  COVID-19 Protection Equipment (7) —  —  0.01  —  Sales and use tax costs (8) —  —  0.02  —  Income tax expense (benefit) —  —  0.03  (0.08) Non-GAAP adjusted net (loss) income per basic and diluted share from continuing operations (9) $(0.19) $0.01  $(0.89) $(0.46)                   (1) Reflects change in fair value of investments in equity securities. (2) Reflects one time litigation costs. (3) Reflects severance related costs. (4) Reflects write-off of assets related to litigation. (5) Reflects legal and other costs related to the ATRM merger and HoldCo conversion. (6) Reflects write-off of costs related to a potential offering of preferred stock the Company did not complete. (7) Reflects purchases related to COVID-19 Protection Equipment. (8) Reflects additional sales and use tax as a result of a South Dakota sales tax audit. (9) 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 Non-GAAP Financial Measures (Unaudited) (In thousands)For The Three Months Ended September 30, 2020 Diagnostic Services Diagnostic Imaging Mobile Healthcare Building & Construction Real Estate & Investments Corporate, eliminations and other Total                 Net income (loss) from continuing operations $1,438  $270  $174  $(628) $92  $(3,106) $(1,760) Depreciation and amortization 280  60  1,388  580  65  —  2,373  Interest expense 18  15  6  214  —  103  356  Income tax expense —  2  —  4  —  —  6  EBITDA from continuing operations 1,736  347  1,568  170  157  (3,003) 975                  Unrealized gain on equity securities (1) —  —  —  —  —  (53) (53) Litigation costs (2) —  —  —  —  —  65  65  Stock-based compensation —  —  —  —  —  122  122  Write-off of DMS assets due to litigation (4) —  —  7  —  —  —  7  Personal Protection Equipment (7) —  17  —  —  —  —  17  Non-GAAP adjusted EBITDA from continuing operations $1,736  $364  $1,575  $170  $157  $(2,869) $1,133  For The Three Months Ended September 30, 2019 Diagnostic Services Diagnostic Imaging Mobile Healthcare Building & Construction Real Estate & Investments Corporate, eliminations and other Total                 Net income (loss) from continuing operations $1,319  $828  $299  $(163) $(66) $(3,721) $(1,504) Depreciation and amortization 333  64  1,272  124  182  —  1,975  Interest expense 22  —  11  39  —  220  292  Income tax expense —  —  1  1  —  —  2  EBITDA from continuing operations 1,674  892  1,583  1  116  (3,501) 765                  Unrealized gain on equity securities (1) —  —  —  —  —  (6) (6) Restructuring costs (3) —  —  60  —  —  —  60  Stock-based compensation —  —  —  —  —  114  114  Loss on sale of buildings —  —  4  —  —  —  4  Transaction cost (5) —  —  —  —  —  1,059  1,059  Non-GAAP adjusted EBITDA from continuing operations $1,674  $892  $1,647  $1  $116  $(2,334) $1,996  For The Nine Months Ended September 30, 2020 Diagnostic Services Diagnostic Imaging Mobile Healthcare Building & Construction Real Estate & Investments Corporate, eliminations and other Total                 Net income (loss) from continuing operations $2,935  $2,145  $(11) $(1,748) $(266) $(9,055) $(6,000) Depreciation and amortization 917  189  4,130  1,723  196  —  7,155  Interest expense 56  9  23  708  —  418  1,214  Income tax expense 12  68  4  6  —  —  90  EBITDA from continuing operations 3,920  2,411  4,146  689  (70) (8,637) 2,459                  Unrealized gain on equity securities (1) —  —  —  —  —  (33) (33) Litigation costs (2) —  —  —  —  —  244  244  Stock-based compensation —  —  —  —  —  382  382  Write-off of DMS assets due to litigation (4) —  —  142  —  —  —  142  Transaction cost (5) —  —  —  —  —  115  115  Personal Protection Equipment (7) —  46  —  —  —  —  46  Sales and use Tax (8) —  —  73  —  —  —  73  Non-GAAP adjusted EBITDA from continuing operations $3,920  $2,457  $4,361  $689  $(70) $(7,929) $3,428  For The Nine Months Ended September 30, 2019 Diagnostic Services Diagnostic Imaging Mobile Healthcare Building & Construction Real Estate & Investments Corporate, eliminations and other Total                 Net income (loss) from continuing operations $4,942  $1,919  $(539) $(128) $(300) $(10,530) $(4,636) Depreciation and amortization 942  215  4,137  124  217  —  5,635  Interest expense 63  —  36  39  —  589  727  Income tax expense/(benefit) —  (98) (71) 1  —  —  (168) EBITDA from continuing operations 5,947  2,036  3,563  36  (83) (9,941) 1,558                  Unrealized gain on equity securities (1) —  —  —  —  —  (29) (29) Restructuring costs (3) —  —  122  —  —  —  122  Loss on extinguishment of debt —  151  —  —  —  —  151  Stock-based compensation —  —  —  —  —  416  416  Loss on sale of buildings —  —  236  —  —  —  236  Write off of Star Real Estate Holding Assets —  —  —  —  143  —  143  Transaction cost (5) —  —  —  —  —  2,015  2,015  Write off of preferred stock issuance cost (6) —  —  —  —  —  273  273  Non-GAAP adjusted EBITDA from continuing operations $5,947  $2,187  $3,921  $36  $60  $(7,266) $4,885                                (1) Reflects change in fair value of investments in equity securities. (2) Reflects one-time litigation costs. (3) Reflects severance related costs. (4) Reflects write-off of assets related to litigation. (5) Reflects legal and other costs related to the ATRM merger and HoldCo conversion. (6) Reflects write-off of costs related to a potential offering of preferred stock the Company did not complete. (7) Reflects purchases related to COVID-19 Protection Equipment. (8) Reflects additional sales and use tax as a result of a South Dakota sales tax audit.Digirad Corporation Reconciliation of Operating Cash Flow to Free Cash Flow (Unaudited) (In thousands)  Three Months Ended September 30, Nine Months Ended September 30,   2020 2019 2020 2019 Net cash used in operating activities $(1,929) $(1,133) $(1,880) $(765) Less purchases of property and equipment (360) —  (646) (1,182) Gross free cash flow (2,289) (1,133) (2,526) (1,947) Plus net dispositions 72  440  156  1,496  Plus merger related net working capital adjustment —  1,058  115  2,058  Free cash flow $(2,217) $365  $(2,255) $1,607                    Digirad Corporation Supplemental Debt Information (Unaudited) (In thousands)A summary of the Company’s credit facilities and related party notes are as follows (in thousands):  September 30, 2020 December 31, 2019   Amount Weighted-Average Interest Rate Amount Weighted-Average Interest Rate Revolving Credit Facility - Gerber KBS $46  6.00% $1,111  7.50% Revolving Credit Facility - Premier —  —% 2,925  6.25% Total Short-Term Revolving Credit Facilities $46  6.00% $4,036  6.59% Revolving Credit Facility - SNB $10,849  2.65% $17,038  4.26% Revolving Credit Facility - Gerber EBGL 1,257  6.00% —  —% Total Long-Term Revolving Credit Facilities $12,106  3.00% $17,038  4.26% LSV Co-Invest I Promissory Note (“January Note”) $668  12.00% $595  12.00% LSV Co-Invest I Promissory Note (“June Note”) 1,150  12.00% 1,023  12.00% LSVM Note 337  12.00% 302  12.00% Total Notes Payable From Related Parties $2,155  12.00% $1,920  12.00% Short Term Paycheck Protection Program Notes $3,625  1.00% $—  —% Long Term Paycheck Protection Program Notes 3,023  1.00% —  —% Total Paycheck Protection Program Notes $6,648  1.00% $—  —%                 Term Loan FacilitiesThe following table presents the Star and Premier term loans balance net of unamortized debt issuance costs as of September 30, 2020 (in thousands): September 30, 2020  Amount Gerber - Star Term Loan$1,900  Premier - Term Loan819  Total Principal2,719  Unamortized debt issuance costs(363) Total$2,356       Digirad Corporation Supplemental Segment Information (Unaudited) (In thousands)  Three Months Ended September 30, Nine Months Ended September 30,   2020 2019 2020 2019 Revenue by segment         Diagnostic Services $10,711  $11,670  $28,665  $35,714  Diagnostic Imaging 2,048  3,351  7,242  8,923  Mobile Healthcare 9,035  10,575  26,534  30,669  Building & Construction 8,542  2,729  19,061  2,729  Real Estate & Investments 175  43  525  43  Corporate, eliminations and other (158) (35) (475) (35) Consolidated revenue $30,353  $28,333  $81,552  $78,043            Gross profit by segment:         Diagnostic Services $2,076  $2,162  $5,034  $7,548  Diagnostic Imaging 399  1,174  2,500  3,040  Mobile Healthcare 1,155  1,441  3,205  3,351  Building & Construction 1,253  477  2,709  477  Real Estate & Investments 110  (23) 329  (200) Corporate, eliminations and other (158) (35) (475) (35) Consolidated gross profit $4,835  $5,196  $13,302  $14,181            Income (loss) from continuing operations by segment:         Diagnostic Services $1,424  $1,304  $2,904  $4,914  Diagnostic Imaging 138  755  1,592  1,662  Mobile Healthcare 176  310  5  (357) Building & Construction (496) (125) (2,445) (125) Real Estate & Investments 93  (61) 209  (260) Corporate, eliminations and other (158) (35) (475) (35) Unallocated corporate and other expenses (2,710) (2,299) (7,453) (7,231) Segment loss from operations (1,533) (151) (5,663) (1,432) Merger and finance costs —  (1,058) —  (2,058) Consolidated loss from operations $(1,533) $(1,209) $(5,663) $(3,490)           Depreciation and amortization by segment:         Diagnostic Services $280  $333  $917  $942  Diagnostic Imaging 60  64  189  215  Mobile Healthcare 1,388  1,272  4,130  4,137  Building & Construction 580  124  1,723  124  Real Estate & Investments 65  208  196  243  Total depreciation and amortization $2,373  $2,001  $7,155  $5,661

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  • Digirad Corporation to Release Third Quarter 2020 Financial Results on November 13

    SUWANEE, Ga., Nov. 06, 2020 (GLOBE NEWSWIRE) -- Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the “Company”), a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments, will release its financial results for the third quarter ended September 30, 2020, before the market opens on Friday, November 13, 2020. A conference call is scheduled for 11:00 a.m. ET (8:00 a.m. PT) on November 13, 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 Corporation Digirad Corporation is a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments.Healthcare Division (Digirad Health) Digirad Health designs, manufactures, and distributes diagnostic medical imaging products and services.  Digirad Health operates in three businesses: Diagnostic Imaging, Diagnostic Services, and Mobile Healthcare. The Diagnostic Imaging business designs, manufactures, and sells proprietary solid-state gamma cameras. It also services the installed base of these proprietary cameras. The Diagnostic Services business offers imaging and monitoring services to healthcare providers as an alternative to purchasing equipment or outsourcing procedures.  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.Building & Construction Division (ATRM) ATRM Holdings, Inc. (“ATRM”) manufactures modular housing units for commercial and residential real estate projects. 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. (“KBS”), 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 all wholly-owned subsidiaries of ATRM, which is a wholly-owned subsidiary of Digirad.Real Estate & Investments Division This business division manages the Company’s real estate assets and investments.Forward-Looking Statements Disclaimer Statement “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; legal, regulatory, political and economic risks in markets and public health crises that reduce economic activity and cause restrictions on operations (including the recent coronavirus COVID-19 outbreak); the length of time associated with servicing customers; losses of significant contracts or failure to get potential contracts being discussed; disruptions in the relationship with third party vendors; accounts receivable turnover; insufficient cash flows and resulting lack of 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 CorporationThe Equity Group Jeffrey E. EberweinLena Cati Chairman of the BoardVice President 203-489-9501212-836-9611 ir@digirad.comlcati@equityny.com

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  • Digirad Shares Up on Plan to Sell Mobile Medical-Imaging Unit

    Digirad will sell DMS Health Technologies, a provider of mobile medical-imaging services, for $18.8 million.

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  • Digirad Corporation to Sell DMS Health for $18.75 Million

    Net proceeds to be used to pay down debt and finance HoldCo growth strategySUWANEE, Ga., Nov. 03, 2020 (GLOBE NEWSWIRE) -- Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the “Company”), a diversified holding company (“HoldCo”) with three divisions: Healthcare, Building & Construction, and Real Estate & Investments, announced today it has entered into a Stock Purchase Agreement (the “Agreement”) to sell its DMS Health Technologies, Inc. (“DMS Health”) business unit. The purchase price under the Agreement is $18.75 million. The Agreement is subject to customary closing conditions and is expected to close in January 2021. DMS Health is the Mobile Healthcare business unit of the Company’s Healthcare division. DMS Health 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.   For 2019, DMS Health generated revenue of $41.3 million, approximately 40.1% of the total revenue of the Healthcare division.Matt Molchan, Digirad’s CEO, said, “The divestiture of DMS Health will allow us to streamline our portfolio of healthcare services by focusing our efforts on selling and servicing our Digirad branded solid-state imaging cameras and providing on-site imaging services to hospitals and physicians all over the country.”Jeff Eberwein, Digirad’s Chairman, noted, “As previously announced, we have been exploring the potential divestiture of assets in addition to pursuing our HoldCo growth strategy. The sale of DMS Health will substantially improve our balance sheet and better position us to fund high-return organic growth investments and to pursue acquisitions. Potential acquisitions could be bolt-ons in Healthcare or Building & Construction or entry into an entirely new business sector.”About Digirad Corporation Digirad Corporation is a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments.Healthcare Division (Digirad Health) Digirad Health designs, manufactures, and distributes diagnostic medical imaging products and services.  Digirad Health operates in three businesses: Diagnostic Imaging, Diagnostic Services, and Mobile Healthcare. The Diagnostic Imaging business designs, manufactures, and sells proprietary solid-state gamma cameras. It also services the installed base of these proprietary cameras. The Diagnostic Services business offers imaging and monitoring services to healthcare providers as an alternative to purchasing equipment or outsourcing procedures.  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.Building & Construction Division (ATRM) ATRM Holdings, Inc. (“ATRM”) manufactures modular housing units for commercial and residential real estate projects. 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. (“KBS”), 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 all wholly-owned subsidiaries of ATRM, which is a wholly-owned subsidiary of Digirad.Real Estate & Investments Division This business division manages the Company’s real estate assets and investments.Forward-Looking Statements Disclaimer Statement “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; legal, regulatory, political and economic risks in markets and public health crises that reduce economic activity and cause restrictions on operations (including the recent coronavirus COVID-19 outbreak); the length of time associated with servicing customers; losses of significant contracts or failure to get potential contracts being discussed; disruptions in the relationship with third party vendors; accounts receivable turnover; insufficient cash flows and resulting lack of 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 CorporationThe Equity Group Jeffrey E. EberweinLena Cati Chairman of the BoardThe Equity Group 203-489-9501212-836-9611 ir@digirad.comlcati@equityny.com

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  • KBS, a Subsidiary of Digirad Corporation, Announces Signing of Phase 3 of Previously Announced Contract to Manufacture Multi-Family Housing Units for U.S. Army

    Phase 3 Brings Total Project Revenue to $6.7 Million; Onsite Installation of Phase 1 has Begun and Delivery of Phase 2 to be Completed Before Year-EndSUWANEE, Ga., Oct. 13, 2020 (GLOBE NEWSWIRE) -- Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the “Company”), a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments, announced today that KBS Builders, Inc. (“KBS”) has signed Phase 3 of its previously announced project with Tocci Building Corporation (“Tocci”), a Massachusetts-based general contractor and construction management company. Phase 3 of this project, valued at $1.5 million, increases the total project size by an additional 26 building modules and 6 living units. All three phases of this project have a combined value of $6.7 million and are for the manufacture of 124 building modules to be used in the production of 28 single-family and townhouse units for the U.S. Army Natick Soldier Systems Center in Natick, MA. Phase 1 of the project has been completed. The townhouse and duplex style homes under Phase 2 of this project have commenced and building set and erection is scheduled to start later this month. All 124 modular units are being manufactured at KBS’s plant in South Paris, ME, which has a production capacity of 500 to 600 building modules per year.Jeff Eberwein, Digirad’s Chairman, noted, “The award of Phase 3 of this project is an indication of the confidence our client has in our ability to manufacture high-quality building modules for this project. As we previously announced, KBS has increased its work force by over 20% versus pre-COVID levels to meet the higher manufacturing requirements for recently won commercial projects. KBS’s backlog and sales pipeline, along with its market initiatives to build more workforce housing, position KBS for strong growth going forward.”About Digirad Corporation Digirad Corporation is a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments.Healthcare Division (Digirad Health) Digirad Health designs, manufactures, and distributes diagnostic medical imaging products and services. Digirad Health operates in three businesses: Diagnostic Imaging, Diagnostic Services, and Mobile Healthcare. The Diagnostic Imaging business designs, manufactures, and sells proprietary solid-state gamma cameras. It also services the installed base of these proprietary cameras. The Diagnostic Services business offers imaging and monitoring services to healthcare providers as an alternative to purchasing equipment or outsourcing procedures. 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.Building & Construction Division (ATRM) ATRM Holdings, Inc. (“ATRM”) manufactures modular housing units for commercial and residential real estate projects. 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. (“KBS”), 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 all wholly-owned subsidiaries of ATRM, which is a wholly-owned subsidiary of Digirad.Real Estate & Investments Division This business division manages the Company’s real estate assets and investments.Forward-Looking Statements Disclaimer Statement “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; legal, regulatory, political and economic risks in markets and public health crises that reduce economic activity and cause restrictions on operations (including the recent coronavirus COVID-19 outbreak); the length of time associated with servicing customers; losses of significant contracts or failure to get potential contracts being discussed; disruptions in the relationship with third party vendors; accounts receivable turnover; insufficient cash flows and resulting lack of 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 The Equity Group 203-489-9501 212-836-9611 ir@digirad.com lcati@equityny.com

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  • The MicroCap Rodeo Best Ideas Bowl 2020; October 13-16, 2020

    NEW YORK, NY / ACCESSWIRE / October 8, 2020 / The MicroCap Rodeo continues this year with its first virtual event set for October 13-16, 2020.

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  • Digirad Corporation to Present at the Best Ideas Virtual Conference on October 13th

    SUWANEE, Ga., Oct. 08, 2020 (GLOBE NEWSWIRE) -- Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the “Company”), a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments, today announced that its management team will be presenting at the Best Ideas Virtual Conference, on Tuesday, October 13.Digirad’s main presentation is scheduled for 12:30 pm ET. Investors will be able to access the presentation live over the Internet via the weblink: https://www.webcaster4.com/Webcast/Page/2134/37949. Additionally, Digirad’s management will be speaking with investors during the event.Investors can also download a PDF copy of the presentation by visiting Digirad’s Investor Relations section of the website: http://ir.digirad.com/About Digirad Corporation Digirad Corporation is a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments.Healthcare Division (Digirad Health) Digirad Health designs, manufactures, and distributes diagnostic medical imaging products. Digirad Health 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 procedure. 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. (“KBS”), 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 Division This business division manages the Company’s real estate assets and investments.Forward-Looking Statements Disclaimer Statement “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 The Equity Group 203-489-9501 212-836-9611 ir@digirad.com lcati@equityny.com

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  • KBS, a Subsidiary of Digirad Corporation, Announces Partial Re-Opening of Manufacturing Plant in Oxford, Maine

    Enters Wall Panel Business in New England Announces Intent to Increase Modular Production in 2021 Launches New WebsitesSUWANEE, Ga., Oct. 06, 2020 (GLOBE NEWSWIRE) -- Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the “Company”), a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments, announced today that KBS Builders, Inc. (“KBS”) has partially re-opened its Oxford, Maine plant to manufacture wall panels for the New England market, creating a new business line for KBS. Also, KBS is studying ways to increase its modular manufacturing output capability in 2021. Our new website was launched yesterday at www.kbsbuildersinc.com with updated content on the rationale for modular construction, a gallery of recent projects, as well as improved functionality for requesting a plant tour and contacting our sales team.The Oxford plant, an approximately 90,000 sq. ft. facility, was idle when it was purchased by Digirad Corporation in April 2019. One of the ancillary buildings at this plant was recently retrofitted and upgraded in order to be able to produce structural wall panels. Panelized wall assemblies standardize the construction process and give contractors cost predictability and a higher level of project control versus on-site construction. Production of structural wall panels for multiple clients commenced at this plant in September and deliveries are scheduled to be completed before year-end. EdgeBuilder, KBS's sister company and a leading manufacturer of wall panels for the upper Midwest, provided design support and operational oversight for these projects.Waypoint General Contracting, a full scope property services company, is one of the clients that contracted with KBS for structural wall panels. Kieran McAllen, Principal at Waypoint General Contracting, said, "We are excited to partner with KBS and leverage their manufacturing expertise and exterior wall panel assembly for our upcoming development projects. KBS's wall panel manufacturing process and production system reduces the overall build cycle, creates schedule predictability, and significantly lowers the need for on-site, skilled labor.”Regarding its traditional business of manufacturing building modules, KBS continues to have a sales pipeline exceeding $50 million. Production capacity at its South Paris, Maine plant is sold out for the rest of this year and bookings are starting to be made for 2021. KBS is exploring ways to increase its modular manufacturing output in 2021, including expanding its South Paris plant and fully re-opening its Oxford plant. The main building at the Oxford plant is capable of manufacturing a similar number of building modules per week as KBS’s South Paris factory. KBS’s goal is to expand its production capacity to 15-20 modules per week at some point in 2021, equating to an annualized rate of 750-1000 modules per year compared to KBS’s actual production for 2019 of approximately 230 building modules.Jeff Eberwein, Digirad’s Chairman, noted, “With the re-opening of the Oxford plant, KBS entered the structural wall panel manufacturing business in New England, adding a new line of business for KBS. We believe KBS’s entrance into the structural wall panel business will lead to new business opportunities in commercial construction for our modular manufacturing operations. In addition, given KBS’s growing backlog and sizeable sales pipeline for full building modules at our South Paris plant, we are excited to serve our growing list of customers by expanding our production capability in 2021.”Additionally, the Company’s Building & Construction businesses recently launched new websites to improve the user experience and drive further sales activity. Links to the websites can be found below.KBS Builders, Inc. www.kbsbuildersinc.comEdgeBuilder, Inc. www.edgebuilderwallpanels.comGlenbrook Building Supply, Inc. www.glenbrooklumber.comAbout Digirad Corporation Digirad Corporation is a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments.Healthcare Division (Digirad Health) Digirad Health designs, manufactures, and distributes diagnostic medical imaging products and services. Digirad Health operates in three businesses: Diagnostic Imaging, Diagnostic Services, and Mobile Healthcare. The Diagnostic Imaging business designs, manufactures, and sells proprietary solid-state gamma cameras. It also services the installed base of these proprietary cameras. The Diagnostic Services business offers imaging and monitoring services to healthcare providers as an alternative to purchasing equipment or outsourcing procedures. 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.Building & Construction Division (ATRM) ATRM Holdings, Inc. (“ATRM”) manufactures modular housing units for commercial and residential real estate projects. 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. (“KBS”), 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 all wholly-owned subsidiaries of ATRM, which is a wholly-owned subsidiary of Digirad.Real Estate & Investments Division This business division manages the Company’s real estate assets and investments.Forward-Looking Statements Disclaimer Statement “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; legal, regulatory, political and economic risks in markets and public health crises that reduce economic activity and cause restrictions on operations (including the recent coronavirus COVID-19 outbreak); the length of time associated with servicing customers; losses of significant contracts or failure to get potential contracts being discussed; disruptions in the relationship with third party vendors; accounts receivable turnover; insufficient cash flows and resulting lack of 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 The Equity Group 203-489-9501 212-836-9611 ir@digirad.com lcati@equityny.com

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  • LD Micro 360 Companies Set to Present this Week.

    LOS ANGELES, CA / ACCESSWIRE / August 31, 2020 / LD Micro today announced the final list of companies slated to present at the upcoming LD 500, taking place September 1st-4th, 2020, exclusively online.

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  • Digirad Corporation to Present at the LD 500 Virtual Conference on September 1st

    SUWANEE, GA / ACCESSWIRE / August 25, 2020 / Digirad Corporation (NASDAQ:DRAD; DRADP) ("Digirad" or the "Company"), a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments, today announced that its management team will be presenting at the LD 500 Virtual Conference, on Tuesday, September 1st.

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  • Digirad: Q2 Earnings Insights

    Shares of Digirad (NASDAQ:DRAD) fell 5.6% in pre-market trading after the company reported Q2 results.Quarterly Results Earnings per share fell 175.00% over the past year to ($0.11), which may not compare to the estimate of ($1.42).Revenue of $22,342,000 declined by 13.40% year over year, which beat the estimate of $9,050,000.Looking Ahead Digirad hasn't issued any earnings guidance for the time being.Revenue guidance hasn't been issued by the company for now.How To Listen To The Conference Call Date: Aug 13, 2020View more earnings on DRADTime: 11:00 AMET Webcast URL: https://edge.media-server.com/mmc/p/9ahqtp5sPrice Action Company's 52-week high was at $8.84Company's 52-week low was at $1.99Price action over last quarter: Up 29.80%Company Profile Digirad Corp is a United States-based company which delivers healthcare solutions. The diverse portfolio of healthcare solutions of the company includes mobile healthcare solutions and medical equipment and services, including diagnostic imaging and patient monitoring. The company provides hospitals, physician practices, and imaging centers throughout the United States access to technology and services necessary to provide exceptional patient care in the rapidly changing healthcare environment. The company operates through three reportable segments namely Diagnostic Services, Mobile Healthcare, and Diagnostic Imaging. It generates a majority of its revenue from the Diagnostic Services followed by Mobile Healthcare segment.See more from Benzinga * Earnings Scheduled For August 13, 2020(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • Digirad Corporation Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2020

    SUWANEE, Ga., Aug. 13, 2020 (GLOBE NEWSWIRE) -- Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the “Company”) reported today its financial results for the second quarter (Q2) and six months (6M) ended June 30, 2020. Q2 2020 Financial Highlights vs. Q2 2019* * Total revenue decreased to $22.3 million from $25.8 million * Gross profit decreased to $4.0 million from $5.0 million * Net loss from continuing operations was $1.3 million (or $0.42 per basic and diluted share) compared to a net loss of $1.5 million (or $0.72 per basic and diluted share) ** * Non-GAAP adjusted EBITDA from continuing operations decreased to $1.8 million from $2.1 million * Non-GAAP free cash outflow of $0.6 million versus inflow of $3.3 million * Cash and cash equivalents and restricted cash of $9.3 million versus $1.0 million and net debt was $16.5 million versus $14.3 million6M 2020 Financial Highlights vs. 6M 2019* * Total revenue increased to $51.2 million from $49.7 million * Gross profit decreased to $8.5 million from $9.0 million * Net loss from continuing operations was $4.2 million (or $1.66 per basic and diluted share) compared to a net loss from continuing operations of $3.1 million (or $1.54 per basic and diluted share) ** * Non-GAAP adjusted EBITDA from continuing operations decreased to $2.3 million from $2.9 million* Since September 10, 2019, Digirad has been operating as a diversified holding company (“HoldCo”) with three divisions: Healthcare, Building & Construction, and Real Estate & Investments. Digirad’s Q2 2020 and 6M 2020 results include financial and operational data for the two newly created divisions - Building & Construction and Real Estate & Investments. No operational or financial data was recorded in the 2019 corresponding periods for these two divisions. ** In May 28, 2020, Digirad completed a public offering through the issuance of 2,225,000 shares of its common stock. Per share amounts for Q2 2020 and 6M 2020 periods, reflect the new share count. Jeff Eberwein, Chairman of Digirad, noted, “Our Q2 2020 operations and financial results were impacted by the nationwide shutdown due to COVID-19. Revenue for all three businesses of our Healthcare division declined as many doctor offices temporarily closed in mid-March and many hospitals temporarily suspended non-emergency scanning procedures. In late June, we noticed a slow but steady return to normal operations at both doctor offices and hospitals.”“Our Building & Construction division experienced some startup delays in Q2 on several commercial projects, but our outlook for the rest of the year is strong. KBS was recently awarded two significant commercial projects – a $5.2 million contract to manufacture living units for the U.S. Army and a $2.0 million contract to manufacture housing units for military veterans. Deliveries for these projects are expected to be completed before year-end. To meet the higher manufacturing requirements for these two commercial projects, KBS recently hired back all factory employees previously furloughed due to COVID-19 and increased its work force by an incremental 20%. Our growth strategy for the Building & Construction division is to further expand the commercial construction business for KBS in the New England market. If KBS grows as expected in 2020, we will explore re-opening our Oxford, Maine plant, which we believe would effectively double KBS’s production capacity.”Mr. Eberwein concluded, “We continue to execute on our HoldCo growth strategy and value enhancement initiatives to maximize stockholder value. Our HoldCo structure allows division CEOs to focus on operations and growth, while HoldCo management focuses on capital allocation. In addition to looking for attractive bolt-on acquisitions for our existing operating businesses, we will also look to create new business divisions in the future through the disciplined acquisition of businesses complementary to our HoldCo structure. Also, we are exploring the potential divestiture of non-strategic assets.”RevenueThe Company’s total Q2 2020 revenue decreased by 13.4% to $22.3 million from $25.8 million in the second quarter of the prior year. 6M 2020 total revenue of $51.2 million slightly increased from 6M 2019 revenue of $49.7 million.Revenue in $ million Q2 2020 Q2 2019 % change 6M 2020 6M 2019 % change Healthcare $17,305  $25,798  (32.9)% $40,647  $49,710  (18.2)% Building & Construction 5,035  —  —% 10,519  —  —% Real Estate & Investments 161  —  —% 350  —  —% Corporate, eliminations and other (159) —  —% (317) —  —% Total Revenue $22,342  $25,798  (13.4)% $51,199  $49,710  3.0% Revenue for the Healthcare division for Q2 2020 decreased from Q2 2019 by $8.5 million, offset by a $5.0 million increase in Building and Construction revenue. The decrease in revenue for the Healthcare division was due to the COVID-19 pandemic as many doctors’ offices were temporarily closed and many hospitals stopped performing non-emergency procedures, tests, and scans.Gross ProfitGross Profit in $ million Q2 2020 Q2 2019 % change 6M 2020 6M 2019 % change Healthcare $3,036  $5,181  (41.4)% $7,109  $9,162  (22.4)% Building & Construction 1,053  —  —% 1,456  —  —% Real Estate & Investments 95  (177) (153.7)% 218  (177) (223.2)% Corporate, eliminations and other (158) —  —% (316) —  —% Total Gross Profit $4,026  $5,004  (19.5)% $8,467  $8,985  (5.8)% Q2 2020 gross profit for the Healthcare division decreased by 41.4% from the prior year’s quarter due to reduced revenue as a result of the COVID-19 pandemic.Operating ExpensesQ2 2020 marketing, sales, general and administrative (MSG&A) expenses decreased by 2.4% or $0.1 million from the prior year period, mainly due to costs savings from lower travelling costs and marketing and selling expenses offset by MSG&A expenses for the Building and Construction division. Our 6M 2020 MSG&A expenses increased by 13.2% or $1.3 million, compared to the same period of 2019 due to the addition of MSG&A in the Building and Construction division.Non-GAAP Adjusted EBITDAQ2 2020 non-GAAP adjusted EBITDA from continuing operations decreased to $1.8 million from $2.1 million in the same quarter of the prior year due to lower revenue generated from high-margin mobile scanning services because of the COVID-19 pandemic. 6M 2020 non-GAAP adjusted EBITDA from continuing operations decreased to $2.3 million, compared to $2.9 million in the prior year period, reflecting COVID-19 impact.Net LossQ2 2020 net loss from continuing operations for the second quarter was $1.3 million, or $0.42 per basic and diluted share, compared to net loss of $1.5 million, or $0.72 per basic and diluted share, in the same period in the prior year. Q2 2020 non-GAAP adjusted net loss from continuing operations was $0.3 million, or $0.11 per basic and diluted share, compared to adjusted net income of $0.1 million, or $0.04 per basic and diluted share, in the prior year period.6M 2020 net loss from continuing operations was $4.2 million, or $1.66 per basic and diluted share, compared to net loss from continuing operations of $3.1 million, or $1.54 per basic and diluted share, in the same period in the prior year. 6M 2020 non-GAAP adjusted net loss from continuing operations decreased to $2.0 million, or $0.78 per basic and diluted share, compared to adjusted net loss of $0.9 million, or $0.46 per basic and diluted share, in the prior year period.Operating cash flowQ2 2020 cash flow from operations was an outflow of $0.6 million, compared to an inflow of $2.6 million for the same period in the prior year. 6M 2020 cash flow from operations was an inflow of $49 thousand, compared to an inflow of $0.4 million for the prior year period.Free Cash FlowThe Company calculates a non-GAAP measure of free cash flow. The Company defines free cash flow as net cash provided by (used in) operating activities, less purchases of property and equipment, plus net dispositions of property and equipment, and the acquisition-related net working capital. The Company believes this measure of free cash flow provides management and investors further useful information about cash generation (or use) in our primary operations.Q2 2020 non-GAAP free cash flow was an outflow of $0.6 million, compared to an inflow of $3.3 million in the same quarter in the prior year period. 6M 2020 non-GAAP free cash flow was an outflow of $38 thousand, compared to an inflow of $1.2 million in the prior year period.Net Operating Loss Carryforward (NOL)Digirad Corporation has approximately $91.6 million of usable net operating losses (“NOL”) in the U.S. as of year end 2019, which the Company considers to be a very valuable asset for its stockholders. In order to protect the value of the NOL for all stockholders, the Company has a charter amendment in place limiting beneficial ownership of Digirad common stock to 4.99%. Stockholders who wish to own more than 4.99% of Digirad common stock, or who already own more than 4.99% of Digirad common stock and wish to buy more, may only acquire additional shares with the Board’s prior written approval.Conference Call InformationA conference call is scheduled for 11:00 a.m. ET (8:00 a.m. PT) on August 13, 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) 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://ir.digirad.com/events-presentations; an archived replay of the webcast will be available within 15 minutes of the end of the conference call.If you have any questions, either prior to or after our scheduled Earnings Conference call, please e-mail ir@digirad.com or lcati@equityny.com.Use of Non-GAAP Financial Measures by Digirad CorporationThis release presents the non-GAAP financial measures “adjusted net income (loss),” “adjusted net income (loss) per basic and diluted share,” “free cash flow”, and “adjusted EBITDA from continuing operations.” The most directly comparable measure for these non-GAAP financial measures are “net income and basic and diluted net income per share”, and “cash flows from operating activities”. The Company has included below unaudited adjusted financial information, which presents the Company’s results of operations after excluding acquired intangible asset amortization, one time transaction costs, litigation costs, restructuring costs, loss on sale of buildings, COVID-19 protection equipment, unrealized gain (loss) on available-for-sale securities, non-recurring costs related to sales and use tax and 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 13, 2020.About Digirad CorporationDigirad Corporation is a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments.Healthcare Division (Digirad Health)Digirad Health designs, manufactures, and distributes diagnostic medical imaging products and services. Digirad Health operates in three businesses: Diagnostic Imaging, Diagnostic Services, and Mobile Healthcare. The Diagnostic Imaging business designs, manufactures, and sells proprietary solid-state gamma cameras. It also services the installed base of these proprietary cameras. The Diagnostic Services business offers imaging and monitoring services to healthcare providers as an alternative to purchasing equipment or outsourcing procedures. 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.Building & Construction Division (ATRM)ATRM Holdings, Inc. (“ATRM”) manufactures modular housing units for commercial and residential real estate projects. 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. (“KBS”), 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 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 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 CorporationThe Equity Group Jeffrey E. EberweinLena Cati Chairman of the BoardThe Equity Group 203-489-9501212-836-9611 ir@digirad.comlcati@equityny.com (Financial tables follow) Digirad Corporation Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (In thousands, except for per share amounts)  Three Months Ended June 30, Six Months Ended June 30,   2020 2019 2020 2019 Revenues:         Healthcare $17,305  $25,798  $40,647  $49,710  Building and Construction 5,035  —  10,519  —  Real Estate and Investments 2  —  33  —  Total revenues 22,342  25,798  51,199  49,710  Cost of revenues:         Healthcare 14,268  20,617  33,538  40,548  Building and Construction 3,982  —  9,063  —  Real Estate and Investments 66  177  131  177  Total cost of revenues 18,316  20,794  42,732  40,725  Gross profit 4,026  5,004  8,467  8,985  Operating expenses:         Marketing, sales and general and administrative expenses 4,751  4,867  10,979  9,700  Amortization of intangible assets 801  283  1,618  566  Merger and finance costs —  1,000  —  1,000  Total operating expenses 5,552  6,150  12,597  11,266  Loss from operations (1,526) (1,146) (4,130) (2,281) Other income (expense):         Other income (expense), net 672  (5) 832  (203) Interest expense, net (383) (254) (858) (435) Loss on sale of building —  (232) —  (232) Loss on extinguishment of debt —  —  —  (151) Total other income (expense) 289  (491) (26) (1,021) Loss before income taxes (1,237) (1,637) (4,156) (3,302) Income tax (expense) benefit (50) 162  (84) 170  Net loss from continuing operations (1,287) (1,475) (4,240) (3,132) Net income from discontinued operations —  266  —  266  Net loss (1,287) (1,209) (4,240) (2,866) Deemed dividend on Series A redeemable preferred stock (484) —  (968) —  Net loss attributable to common shareholders $(1,771) $(1,209) $(5,208) $(2,866)           Net (loss) income per share - basic and diluted         Net loss per share, continuing operations attributable to common shareholders $(0.58) $(0.72) $(2.04) $(1.54) Net income per share, discontinued operations attributable to common shareholders —  0.13  —  0.13  Net loss per share, attributable to common shareholders — basic and diluted: $(0.58) $(0.59) $(2.04) $(1.41) Weighted-average shares outstanding – basic and diluted 3,041  2,038  2,547  2,034                      Net loss $(1,287) $(1,209) $(4,240) $(2,866) Other comprehensive income (loss):         Reclassification of tax provision impact —  —  —  22  Total other comprehensive income —  —  —  22  Comprehensive loss $(1,287) $(1,209) $(4,240) $(2,844) Digirad Corporation Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except share amounts)  June 30, 2020 December 31, 2019 Assets:     Current assets:     Cash and cash equivalents $9,111  $1,821  Restricted cash 169  240  Equity securities 27  26  Accounts receivable, net 14,523  18,571  Inventories, net 7,638  7,097  Other current assets 1,433  1,794  Total current assets 32,901  29,549  Property and equipment, net 19,210  22,138  Operating lease right-of-use assets 4,907  4,827  Intangible assets, net 21,286  22,903  Goodwill 9,978  9,978  Other assets 997  1,165  Total assets $89,279  $90,560        Liabilities, Mezzanine Equity and Stockholders’ Equity     Current liabilities:     Accounts payable $5,807  $8,932  Accrued compensation 4,132  4,579  Accrued warranty 272  421  Deferred revenue 2,185  1,786  Short-term debt and current portion of long-term debt 4,459  4,036  Payable to related parties 2,155  1,920  Operating lease liabilities, current portion 1,980  1,866  Other current liabilities 3,270  4,638  Total current liabilities 24,260  28,178  Long-term debt, net of current portion 19,124  17,038  Deferred tax liabilities 89  23  Operating lease liabilities, net of current portion 3,024  3,073  Other liabilities 1,102  1,551  Total liabilities 47,599  49,863        Preferred stock, $0.0001 par value: 10,000,000 shares authorized: 10% Series A Cumulative Redeemable preferred stock, 8,000,000 shares liquidation preference ($10.00 per share), 1,915,637 shares issued or outstanding at June 30, 2020 and December 31, 2019, respectively 20,570  19,602        Stockholders’ equity:     Common stock, $0.0001 par value: 30,000,000 shares authorized; 4,692,451 and 2,050,659 shares issued and outstanding (net of treasury shares) at June 30, 2020 and December 31, 2019, respectively —  —  Treasury stock, at cost; 258,849 shares at June 30, 2020 and December 31, 2019, respectively (5,728) (5,728) Additional paid-in capital 149,607  145,352  Accumulated deficit (122,769) (118,529) Total stockholders’ equity 21,110  21,095  Total liabilities, mezzanine equity and stockholders’ equity $89,279  $90,560  Digirad Corporation Reconciliation of Non-GAAP Financial Measures (Unaudited) (In thousands, except per share amounts)  Three Months Ended June 30, Six Months Ended June 30,   2020 2019 2020 2019           Net loss from continuing operations $(1,287) $(1,475) $(4,240) $(3,132) Acquired intangible amortization 801  283  1,618  566  Unrealized (gain) loss on equity securities (1) (6) 5  20  (23) Litigation costs (2) 19  —  179  —  Restructuring costs (3) —  62  —  62  Loss on extinguishment of debt —  —  —  151  Loss on sale of buildings —  232  —  232  Write-off of DMS assets due to litigation (4) —  —  135  —  Write-off of Star Real Estate Holding assets —  143  —  143  Transaction cost (5) —  726  115  956  Write-off of preferred stock issuance cost (6) —  273  —  273  COVID -19 protection equipment (7) 29  —  29  —  Sales and use tax costs (8) 73  —  73  —  Income tax expense (benefit) 50  (162) 84  (170) Non-GAAP adjusted net (loss) income from continuing operations $(321) $87  $(1,987) $(942)           Net loss per diluted share from continuing operations $(0.42) $(0.72) $(1.66) $(1.54) Acquired intangible amortization 0.26  0.14  0.64  0.28  Unrealized (gain) loss on equity securities (1) —  —  0.01  (0.01) Litigation costs (2) 0.01  —  0.07  —  Restructuring costs (3) —  0.03  —  0.03  Loss on extinguishment of debt —  —  —  0.07  Loss on sale of buildings —  0.11  —  0.11  Write-off of DMS assets due to litigation (4) —  —  0.05  —  Write-off of Star Real Estate Holding assets —  0.07  —  0.07  Transaction cost (5) —  0.36  0.05  0.47  Write-off of preferred stock issuance cost (6) —  0.13  —  0.13  COVID -19 Protection Equipment (7) 0.01  —  0.01  —  Sales and use tax costs (8) 0.02  —  0.03  —  Income tax expense (benefit) 0.02  (0.08) 0.03  (0.08) Non-GAAP adjusted net (loss) income per basic and diluted share from continuing operations (9) $(0.11) $0.04  $(0.78) $(0.46) (1) Reflects change in fair value of investments in equity securities. (2) Reflects one time litigation costs. (3) Reflects severance related costs. (4) Reflects write-off of assets related to litigation. (5) Reflects legal and other costs related to the ATRM merger and HoldCo conversion. (6) Reflects write-off of costs related to a potential offering of preferred stock the Company did not complete. (7) Reflects purchases related to COVID -19 Protection Equipment. (8) Reflects additional sales and use tax as a result of a South Dakota sales tax audit. (9) 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 Non-GAAP Financial Measures (Unaudited) (In thousands)  Three Months Ended June 30, Six Months Ended June 30,   2020 2019 2020 2019 Net loss from continuing operations $(1,287) $(1,475) $(4,240) $(3,132) Unrealized (gain) loss on equity securities (1) (6) 5  20  (23) Litigation costs (2) 19  —  179  —  Restructuring costs (3) —  62  —  62  Loss on extinguishment of debt —  —  —  151  Depreciation and amortization 2,374  1,851  4,782  3,660  Stock-based compensation 151  190  260  302  Write-off of DMS assets due to litigation (4) —  —  135  —  Write-off of Star Real Estate Holding assets —  143  —  143  Loss on sale of building —  232  —  232  Interest expense, net 383  254  858  435  Transaction cost (5) —  726  115  956  Write-off of preferred stock issuance cost (6) —  273  —  273  COVID -19 protection equipment (7) 29  —  29  —  Sales and use tax costs (8) 73  —  73  —  Income tax expense (benefit) 50  (162) 84  (170) Non-GAAP adjusted EBITDA from continuing operations $1,786  $2,099  $2,295  $2,889  (1) Reflects change in fair value of investments in equity securities. (2) Reflects one time litigation costs. (3) Reflects severance related costs. (4) Reflects write-off of assets related to litigation. (5) Reflects legal and other costs related to the ATRM merger and HoldCo conversion. (6) Reflects write-off of costs related to a potential offering of preferred stock the Company did not complete. (7) Reflects purchases related to COVID-19 Protection Equipment. (8) Reflects additional sales and use tax as a result of a South Dakota sales tax audit. Digirad Corporation Reconciliation of Operating Cash Flow to Free Cash Flow (Unaudited) (In thousands)  Three Months Ended June 30, Six Months Ended June 30,   2020 2019 2020 2019 Net cash (used in) provided by operating activities $(574) $2,553  $49  $368  Less purchases of property and equipment (128) (1,059) (286) (1,446) Gross free cash flow (702) 1,494  (237) (1,078) Plus net dispositions 61  1,063  84  1,320  Plus merger related net working capital adjustment —  726  115  956  Free cash flow $(641) $3,283  $(38) $1,198  Digirad Corporation Supplemental Debt Information (Unaudited) (In thousands)A summary of the Company’s credit facilities and related party notes are as follows (in thousands):  June 30, 2020 December 31, 2019   Amount Weighted- Average Interest Rate Amount Weighted- Average Interest Rate Revolving Credit Facility - Gerber KBS $1,180  6.00% $1,111  7.50% Revolving Credit Facility - Premier —  —% 2,925  6.25% Total Short Term Revolving Credit Facilities $1,180  6.00% $4,036  6.59% Revolving Credit Facility - SNB $11,785  2.66% $17,038  4.26% Revolving Credit Facility - Gerber EBGL 1,374  6.00% —  —% Total Long Term Revolving Credit Facilities $13,159  3.01% $17,038  4.26% LSV Co-Invest I Promissory Note (“January Note”) $668  12.00% $595  12.00% LSV Co-Invest I Promissory Note (“June Note”) 1,150  12.00% 1,023  12.00% LSVM Note 337  12.00% 302  12.00% Total Notes Payable From Related Parties $2,155  12.00% $1,920  12.00% Short Term Paycheck Protection Program Notes $2,518  1.00% $—  —% Long Term Paycheck Protection Program Notes 4,130  1.00% $—  —% Total Paycheck Protection Program Notes $6,648  1.00% $—  —% Term Loan FacilitiesThe following table presents the Star and Premier term loans balance net of unamortized debt issuance costs as of June 30, 2020 (in thousands):  June 30, 2020   Amount Gerber - Star Term Loan $2,125  Premier - Term Loan 897  Total Principal 3,022  Unamortized debt issuance costs (426) Total $2,596  Digirad Corporation Supplemental Segment Information (Unaudited) (In thousands)  Three Months Ended June 30, Six Months Ended June 30,   2020 2019 2020 2019 Revenue by segment         Diagnostic Services $7,140  $12,318  $17,954  $24,044  Diagnostic Imaging 2,333  3,049  5,194  5,572  Mobile Healthcare 7,832  10,431  17,499  20,094  Building and Construction 5,035  —  10,519  —  Real Estate and Investments 161  —  350  —  Corporate, eliminations and other (159) —  (317) —  Consolidated revenue $22,342  $25,798  $51,199  $49,710            Gross profit by segment:         Diagnostic Services $953  $2,805  $2,958  $5,386  Diagnostic Imaging 1,232  1,080  2,101  1,866  Mobile Healthcare 851  1,296  2,050  1,910  Building and Construction 1,053  —  1,456  —  Real Estate and Investments 95  (177) 218  (177) Corporate, eliminations and other (158) —  (316) —  Consolidated gross profit $4,026  $5,004  $8,467  $8,985            Income (loss) from continuing operations by segment:         Diagnostic Services $515  $1,957  $1,539  $3,693  Diagnostic Imaging 934  565  1,455  908  Mobile Healthcare 135  439  312  (184) Building and Construction 130  —  (729) —  Real Estate and Investments 10  (199) 116  (199) Corporate, eliminations and other (158) (2,908) (316) —  Unallocated corporate and other expenses (3,092) —  (6,507) (5,499) Segment loss from operations (1,526) (146) (4,130) (1,281) Merger and finance costs —  (1,000) —  (1,000) Consolidated loss from operations $(1,526) $(1,146) $(4,130) $(2,281)           Depreciation and amortization by segment:         Diagnostic Services $307  $305  $637  $609  Diagnostic Imaging 66  73  129  151  Mobile Healthcare 1,364  1,438  2,742  2,865  Building and Construction 571  —  1,143  —  Real Estate and Investments 66  35  131  35  Total depreciation and amortization $2,374  $1,851  $4,782  $3,660

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  • Digirad Corporation to Release Second Quarter 2020 Financial Results on August 13

    SUWANEE, Ga., Aug. 07, 2020 (GLOBE NEWSWIRE) -- Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the “Company”) will release its financial results for the second quarter ended June 30, 2020, before the market opens on Thursday, August 13, 2020. A conference call is scheduled for 11:00 a.m. ET (8:00 a.m. PT) on August 13, 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 divisions: Healthcare, Building & Construction, and Real Estate & Investments.Healthcare Division (Digirad Health) Digirad Health designs, manufactures, and distributes diagnostic medical imaging products and services.  Digirad Health operates in three businesses:  Diagnostic Imaging, Diagnostic Services, and Mobile Healthcare.  The Diagnostic Imaging business designs, manufactures, and sells proprietary solid-state gamma cameras.  It also services the installed base of these proprietary cameras.  The Diagnostic Services business offers imaging and monitoring services to healthcare providers as an alternative to purchasing equipment or outsourcing procedures.  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.Building & Construction Division (ATRM) ATRM Holdings, Inc. (“ATRM”) manufactures modular housing units for commercial and residential real estate projects. 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. (“KBS”), 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 Division This 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 CorporationThe Equity Group Jeffrey E. EberweinLena Cati Chairman of the BoardVice President 203-489-9501212-836-9611 ir@digirad.comlcati@equityny.com

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  • LD Micro Announces Preliminary List of Presenters for the LD 500.

    LOS ANGELES, CA / ACCESSWIRE / August 5, 2020 / LD Micro today announced the initial list of companies slated to present at the upcoming LD 500, taking place September 1st-4th, 2020, exclusively online.

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  • KBS, a Subsidiary of Digirad Corporation, Announces Signing of Phase 2 of its Previously Announced $5.2 Million Contract to Manufacture Multi-Family Housing Units for U.S. Army

    SUWANEE, Ga., July 20, 2020 -- Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the “Company”), a diversified holding company with three divisions: Healthcare, Building.

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  • Edited Transcript of DRAD earnings conference call or presentation 15-May-20 3:00pm GMT

    Q1 2020 Digirad Corp Earnings Call

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  • Digirad Corporation to Present at the Sidoti Virtual Microcap Conference on June 30th

    Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the “Company”), a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments, today announced that its management team will be presenting at the Sidoti Inaugural Virtual Microcap Conference, on Tuesday, June 30th. Digirad’s main presentation is scheduled for 12:15 pm ET, in Virtual Estate Room #1. Additionally, Digirad’s management will be speaking with investors throughout the day.

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