Diagnostic Imaging International Corp.

Diagnostic Imaging International Corp.

April 02, 2012 09:00 ET

Diagnostic Imaging International Corp. 2011 Financial Results-EBITDA of $0.012 Per Share

LAS VEGAS, NEVADA--(Marketwire - April 2, 2012) - Diagnostic Imaging International Corp. (OTCQB:DIIG) announced today that it has filed its 2011 10-K report and provided an update on its financial results for 2011.

The Company is very pleased to report that it generated positive cash flow in 2011 and reduced its debt through the cash earned from operations. The Company is now looking to expand operations and is investigating acquisition targets. The Company will require financing in order to complete an acquisition.

EBITDA for 2011 was $0.012 per share.

For the year ended December 31, 2011 revenues were $3,536,176 compared to $3,050,901 for the year ended December 31, 2010, an increase of 16% or $485,275. This increase in revenues was due to a new contract obtained in 2011, an increase in demand for radiology services from existing clients, as well as having a full year of service of a new contract obtained in 2010 reflecting in the 2011 financial statements, as oppose to six months of services reflecting in 2010.

For the year ended December 31, 2011 cost of sales incurred were $2,905,077 compared to $2,507,383 for the year ended December 31, 2010, an increase of 16% or $397,694.

Operating expenses for the years ended December 31, 2011, and December 31, 2010 totaled $542,512 and $891,170, respectively.

To find out more about Diagnostic Imaging International Corp. (OTCQB:DIIG), visit our website at www.diig.biz.

About DIIG

Diagnostic Imaging International Corp., ("DIIG") is planning to acquire diagnostic imaging clinics including MRI clinics, Computed Tomography scan equipment, and to evaluate future opportunities for Positron Emission Tomography clinics. DIIG owns and operates CTS, a Teleradiology company. Teleradiology is the process of assessing radiological patient images, such as x-rays (http://en.wikipedia.org/wiki/X-ray), CTs (http://en.wikipedia.org/wiki/CT), and MRIs (http://en.wikipedia.org/wiki/MRI), from one location to another for the purposes of interpretation and/or consultation. CTS provides remote radiology (teleradiology) technology to hospitals and practices, on-call 24 hours a day, 7days a week. CTS connects clients with a global teleradiology network, providing access to global partner facilities and American and Canadian board-certified radiologists.

This news release includes forward-looking statements that reflect Diagnostic Imaging International Corp.'s current expectations about its future results, performance, prospects and opportunities. Diagnostic Imaging International Corp. has tried to identify these forward-looking statements by using words and phrases such as "may", "will", "expects", "anticipates", "believes", "intends", "estimates", "should", "typical", "we are confident" or similar expressions. These forward-looking statements are based on information currently available to Diagnostic Imaging International Corp. and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects of opportunities in the remainder of 2010 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.

Contact Information

  • Diagnostic Imaging International Corp.
    (877) 331-3444