Digirad Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company's total revenues were $31,157,000 compared to $13,839,000 a year ago. Loss from operations was $553,000 compared to income from operations of $165,000 a year ago. Loss before income taxes was $852,000 compared to income before income taxes of $165,000 a year ago. Net income was $11,609,000 compared to $745,000 a year ago. Diluted net income per share was $0.58 compared to $0.04 a year ago. Non-GAAP adjusted net income was $1,303,000 compared to $286,000 a year ago. Non-GAAP adjusted net income per share - diluted was $0.07 compared to $0.02 a year ago. Non-GAAP adjusted EBITDA was $3,656,000 compared to $822,000 a year ago.

The company reaffirms its previously announced fiscal year 2016 financial guidance of revenues between $125 million and $130 million and non-GAAP adjusted EBITDA between $17 million and $18 million. In addition, based on the completion of the underlying transaction accounting, the Company is now providing financial guidance for adjusted diluted earnings per share between $0.30 and $0.35 for fiscal year 2016. It expects effective tax rate for 2016 of around 6%.

For the year 2017, the company, expects effective tax rate to be in the 38% to 40% range.