2010 Q4 Form 10-K Financial Statement

#000144530512000352 Filed on February 17, 2012

View on sec.gov

Income Statement

Concept 2010 Q4 2009 2008 Q4
Revenue $14.66M $69.60M $21.99M
YoY Change -10.61% -13.44% 16.84%
Cost Of Revenue $11.05M $49.37M $15.71M
YoY Change -5.39% -18.12% 9.63%
Gross Profit $3.610M $20.23M $6.280M
YoY Change -23.52% 0.62% 39.87%
Gross Profit Margin 24.62% 29.06% 28.56%
Selling, General & Admin $3.540M $15.90M $4.970M
YoY Change -4.07% -22.07% 3.54%
% of Gross Profit 98.06% 78.61% 79.14%
Research & Development $600.0K $3.360M $810.0K
YoY Change -31.03% 20.0% 28.57%
% of Gross Profit 16.62% 16.61% 12.9%
Depreciation & Amortization $1.040M $4.588M $1.630M
YoY Change -14.75% -28.42% -1.21%
% of Gross Profit 28.81% 22.68% 25.96%
Operating Expenses $4.240M $20.17M $6.030M
YoY Change -9.98% -15.62% 3.79%
Operating Profit -$630.0K $58.00K $250.0K
YoY Change -6400.0% -101.53% -118.94%
Interest Expense $90.00K $500.0K $210.0K
YoY Change -10.0% -37.5% -38.24%
% of Operating Profit 862.07% 84.0%
Other Income/Expense, Net -$10.00K $550.0K -$130.0K
YoY Change -114.29% -650.0% 0.0%
Pretax Income -$560.0K $600.0K -$3.440M
YoY Change -394.74% -108.7% 212.73%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$560.0K $608.0K -$3.440M
YoY Change -394.74% -108.81% 212.73%
Net Earnings / Revenue -3.82% 0.87% -15.64%
Basic Earnings Per Share
Diluted Earnings Per Share -$296.3K $315.8K -$1.811M
COMMON SHARES
Basic Shares Outstanding 18.84K shares
Diluted Shares Outstanding 19.32K shares

Balance Sheet

Concept 2010 Q4 2009 2008 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.20M $31.80M $28.30M
YoY Change -5.03% 12.37% -10.73%
Cash & Equivalents $20.46M $13.60M $13.53M
Short-Term Investments $9.800M $18.30M $14.80M
Other Short-Term Assets $861.0K $1.200M $3.100M
YoY Change -28.25% -61.29% 72.22%
Inventory $5.432M $6.400M $5.000M
Prepaid Expenses
Receivables $7.527M $7.600M $9.300M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $44.07M $47.00M $45.70M
YoY Change -6.24% 2.84% -3.59%
LONG-TERM ASSETS
Property, Plant & Equipment $7.185M $10.30M $13.40M
YoY Change -30.24% -23.13% -17.28%
Goodwill $184.0K
YoY Change
Intangibles $808.0K
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $100.0K
YoY Change -100.0% 0.0%
Total Long-Term Assets $8.177M $11.70M $15.50M
YoY Change -30.11% -24.52% -28.24%
TOTAL ASSETS
Total Short-Term Assets $44.07M $47.00M $45.70M
Total Long-Term Assets $8.177M $11.70M $15.50M
Total Assets $52.24M $58.70M $61.20M
YoY Change -11.0% -4.08% -11.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.694M $1.800M $2.200M
YoY Change -5.89% -18.18% -18.52%
Accrued Expenses $4.100M $4.800M $7.000M
YoY Change -14.58% -31.43% -5.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $8.147M $9.200M $12.10M
YoY Change -11.45% -23.97% -10.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% -50.0%
Total Long-Term Liabilities $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% -50.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.147M $9.200M $12.10M
Total Long-Term Liabilities $100.0K $100.0K $100.0K
Total Liabilities $8.285M $9.300M $12.20M
YoY Change -10.91% -23.77% -11.59%
SHAREHOLDERS EQUITY
Retained Earnings -$109.9M
YoY Change
Common Stock $2.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.039M
YoY Change
Treasury Stock Shares 573.2K shares
Shareholders Equity $43.96M $49.40M $48.96M
YoY Change
Total Liabilities & Shareholders Equity $52.24M $58.70M $61.20M
YoY Change -11.0% -4.08% -11.3%

Cashflow Statement

Concept 2010 Q4 2009 2008 Q4
OPERATING ACTIVITIES
Net Income -$560.0K $608.0K -$3.440M
YoY Change -394.74% -108.81% 212.73%
Depreciation, Depletion And Amortization $1.040M $4.588M $1.630M
YoY Change -14.75% -28.42% -1.21%
Cash From Operating Activities $1.950M $4.806M $2.830M
YoY Change 36.36% 102.78% 24.67%
INVESTING ACTIVITIES
Capital Expenditures -$230.0K $1.014M -$320.0K
YoY Change -37.84% -120.04% -78.95%
Acquisitions
YoY Change
Other Investing Activities -$1.420M -$2.750M $750.0K
YoY Change 735.29% -280.92% -84.44%
Cash From Investing Activities -$1.650M -$3.764M $430.0K
YoY Change 211.32% 6.33% -87.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $955.0K
YoY Change 9450.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -$1.007M -50.00K
YoY Change -100.0% 337.83% 150.0%
NET CHANGE
Cash From Operating Activities 1.950M $4.806M 2.830M
Cash From Investing Activities -1.650M -$3.764M 430.0K
Cash From Financing Activities 0.000 -$1.007M -50.00K
Net Change In Cash 300.0K $35.00K 3.210M
YoY Change -56.52% -102.5% -42.37%
FREE CASH FLOW
Cash From Operating Activities $1.950M $4.806M $2.830M
Capital Expenditures -$230.0K $1.014M -$320.0K
Free Cash Flow $2.180M $3.792M $3.150M
YoY Change 21.11% -48.96% -16.89%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">The Company</font></div><div style="line-height:120%;padding-top:9px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Digirad Corporation (&#8220;Digirad&#8221;), a Delaware corporation, is a leading developer and manufacturer of medical diagnostic imaging systems including solid-state gamma cameras for nuclear cardiology and general nuclear medicine applications. Digirad is also one of the largest national providers of in-office nuclear cardiology imaging and ultrasound services to physician practices, hospitals and imaging centers through its Digirad Imaging Solutions (&#8220;DIS&#8221;) division. Digirad has two reportable segments, DIS and Product which are collectively referred to herein as the &#8220;Company&#8221;. The accompanying consolidated financial statements include the operations of both segments. Intercompany accounts and transactions are accounted for at cost and have been eliminated in consolidation. All the Company's long-lived assets are located in the United States. Substantially all of the Company&#8217;s revenue arises from sales activity in the United States. Through DIS, the Company provides in-office imaging services to physicians, offering certified personnel, required licensure, an imaging system and other support and supplies for the performance of nuclear and ultrasound imaging procedures under the supervision of its physician customers. DIS physician customers enter into annual lease contracts for imaging services generally delivered on a per-day basis. The Company&#8217;s Product segment sells solid-state gamma cameras and provides camera service and maintenance.</font></div></div>
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ProceedsFromIssuanceOfCommonStock
119000 USD
CY2009 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
36000 USD
CY2010 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
44000 USD
CY2009 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
16586000 USD
CY2010 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
13569000 USD
CY2011 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
16145000 USD
CY2009 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1024000 USD
CY2011 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
165000 USD
CY2010 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
55000 USD
CY2011Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
297000 USD
CY2010Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
378000 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5367000 USD
CY2010Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7185000 USD
CY2010 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
832000 USD
CY2011 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
237000 USD
CY2009 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
58000 USD
CY2009 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
52000 USD
CY2011 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
0 USD
CY2010 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
36000 USD
CY2011 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2738000 USD
CY2010 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2875000 USD
CY2009 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3360000 USD
CY2010Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
0 USD
CY2011Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
194000 USD
CY2009 us-gaap Restructuring Charges
RestructuringCharges
319000 USD
CY2011 us-gaap Restructuring Charges
RestructuringCharges
-164000 USD
CY2010 us-gaap Restructuring Charges
RestructuringCharges
355000 USD
CY2009 us-gaap Revenues
Revenues
69596000 USD
CY2011 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
15951000 USD
CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-109852000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-113194000 USD
CY2010 us-gaap Revenues
Revenues
56183000 USD
CY2011 us-gaap Revenues
Revenues
53745000 USD
CY2009 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
17278000 USD
CY2010 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
16641000 USD
CY2009 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
52318000 USD
CY2010 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
39542000 USD
CY2011 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
37794000 USD
CY2009 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6977000 USD
CY2011 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7622000 USD
CY2010 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5922000 USD
CY2010 us-gaap Share Based Compensation
ShareBasedCompensation
891000 USD
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
800000 USD
CY2009 us-gaap Share Based Compensation
ShareBasedCompensation
606000 USD
CY2009 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
36000 USD
CY2010 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
44000 USD
CY2011 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
119000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
43959000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
41487000 USD
CY2008Q4 us-gaap Stockholders Equity
StockholdersEquity
48959000 USD
CY2009Q4 us-gaap Stockholders Equity
StockholdersEquity
49389000 USD
CY2011Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
582825 shares
CY2010Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
573218 shares
CY2010Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1039000 USD
CY2011Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1058000 USD
CY2010 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
48000 USD
CY2009 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
991000 USD
CY2011 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
19000 USD
CY2010 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18774 shares
CY2009 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19320 shares
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19052 shares
CY2009 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18836 shares
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19052 shares
CY2010 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18774 shares
CY2011 digirad Restructuring Loss Net
RestructuringLossNet
0 USD
CY2009 digirad Restructuring Loss Net
RestructuringLossNet
319000 USD
CY2010 digirad Restructuring Loss Net
RestructuringLossNet
355000 USD
CY2011 dei Amendment Flag
AmendmentFlag
false
CY2011 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2011 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2011 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2011
CY2011 dei Entity Central Index Key
EntityCentralIndexKey
0000707388
CY2012Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
19531463 shares
CY2011Q2 dei Entity Public Float
EntityPublicFloat
52300000 USD
CY2011 dei Entity Registrant Name
EntityRegistrantName
DIGIRAD CORP
CY2011 dei Entity Current Reporting Status
EntityCurrentReportingStatus
No
CY2011 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2011 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2011 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2011 dei Document Period End Date
DocumentPeriodEndDate
2011-12-31
CY2011 dei Document Type
DocumentType
10-K

Files In Submission

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0001445305-12-000352-index-headers.html Edgar Link pending
0001445305-12-000352-index.html Edgar Link pending
0001445305-12-000352.txt Edgar Link pending
0001445305-12-000352-xbrl.zip Edgar Link pending
digirad-20111231.xml Edgar Link completed
digirad-20111231.xsd Edgar Link pending
digirad-20111231_cal.xml Edgar Link unprocessable
digirad-20111231_def.xml Edgar Link unprocessable
digirad-20111231_lab.xml Edgar Link unprocessable
digirad-20111231_pre.xml Edgar Link unprocessable
digirad10k2011.htm Edgar Link pending
digirad10k2011exhibit231.htm Edgar Link pending
digirad10k2011exhibit311.htm Edgar Link pending
digirad10k2011exhibit312.htm Edgar Link pending
digirad10k2011exhibit321.htm Edgar Link pending
digirad10k2011exhibit322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
performancegraph.jpg Edgar Link pending
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