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April 1, 2014
Diagnostic Imaging International Announces Record Year End Results

On a Year-Over-Year Basis, Total Revenues Increased 50% to $5.08 Million from $3.38 Million;
Adjusted EBITDA, on a Non-GAAP Basis, Rose to $610,856 from $82,359


LAS VEGAS - April 1, 2014 - Diagnostic Imaging International Corp. (OTCQB:DIIG) ("DIIG"), a provider of fixed-base and remote medical diagnostic imaging services to clients in the U.S. and Canada, today announced its financial results for the fiscal year ended December 31, 2013.

2013 Financial Highlights

  • Total revenues increased 50% to $5,077,342 - up from $3,378,982 in 2012.
  • Gross profit margin improved, rising to 37.5% for the 12-months ended December 31, 2013 compared to 19.1% for the previous year.
  • On a non-GAAP basis, adjusted EBITDA totaled $610,856 compared to $82,359.
  • On a GAAP basis, income from operations in 2013 totaled $303,685, representing a 16-fold increase over income from operations of $17,441 reported for 2012.
  • Despite factoring interest expense and amortization of debt discount totaling $380,748, net loss declined 53% to $62,271, or $0.00 loss per basic and diluted share, compared to a net loss of $132,450, or $0.01 loss per basic and diluted share, in the prior year, after factoring interest expense and amortization of debt discount of $82,970.
  • Cash provided by the Company's operating activities increased to $458,266 in 2013 compared to $170,621 in the previous year.
  • As of December 31, 2013, cash and cash equivalents totaled $77,300; accounts receivable were $295,614 and total stockholders' deficit was $2,265.

Commenting on the results, Mitch Geisler, DIIG CEO, stated, "With ambition to build a multi-national enterprise of significant and enduring value that helps to materially enhance the care of the patients we serve, we are very pleased with the marked progress we made in 2013. Thus far, our approach to building Diagnostic Imaging International into an industry respected provider of imaging services to the North American healthcare market is serving us well, as proven by our achieving double digit revenue growth and strong positive cash flow. By remaining steadfast in executing our business plan, we fully expect that our continued efforts will help to perpetuate this impressive growth trend well into the foreseeable future."

Reconciliation of Non-GAAP Measure
In addition to containing results that are determined in accordance with accounting principles generally accepted in the United States of America (GAAP), this press release also contains non-GAAP financial measures. Adjusted EBITDA is a non-GAAP financial measure that comprises net income (loss) excluding interest expense, amortization of debt discount, depreciation and amortization of intangible assets. We interest expense, amortization of debt discount, depreciation and amortization of intangible assets because they are non-cash in nature, and we believe that non-GAAP financial measures excluding these items provide meaningful supplemental information about our operating performance and liquidity. Our definition of Adjusted EBITDA may differ from similar measures used by other companies, even when similar terms are used to identify such measures. While adjusted EBITDA is not intended to replace any presentation included in the consolidated financial statements under GAAP and should not be considered an alternative to operating performance or an alternative to cash flow as a measure of liquidity, the Company believes this measure is useful to investors in assessing the Company's ongoing operating performance and working capital requirements. This calculation may differ in method of calculation from similarly titled measures used by other companies. A reconciliation of adjusted EBITDA to the nearest comparable GAAP financial measure is included in the financial charts included in this press release. The non-GAAP financial measures, as well as other information in this press release, should be read in conjunction with the Company's financial statements filed with the Securities and Exchange Commission.

Years Ended December 31,
2013 2012
Net Loss $ (66,046) $ (132,337)
Add Interest expense 300,873 42,749
Add Amortization of debt discount 79,875 40,221
Add Depreciation 158,607 14,651
Add Amortization of Intangible Assets 137,547 117,075
Adjusted EBITDA $ 610,856 $ 82,359


For more details on DIIG's fiscal 2013 year-end results, please refer to the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission and accessible at www.sec.gov.


About Diagnostic Imaging International Corp.
Headquartered in Las Vegas, Diagnostic Imaging International Corp. ("DIIG") is engaged in providing comprehensive medical diagnostic imaging services to clients in the United States and Canada through its wholly owned subsidiaries: Custom Teleradiology Services, Inc. ("CTS") and Schuylkill Medical Imaging (SMI). Founded in 2004, CTS is a leading provider of expert remote reading and reporting of medical diagnostic imaging scans for rural hospitals, clinics and referring physicians. SMI is the premier outpatient diagnostic imaging facility serving patients in Schuylkill County, Pennsylvania; and has provided high quality medical diagnostic imaging services to the region for more than 11 years. For more information, please visit www.diig.biz.


Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control Diagnostic Imaging International Corp. Such forward-looking statements are based on current expectations, estimates and projections about our industry, management beliefs and certain assumptions made by our management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, we undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.


For additional information, please contact:
HANOVER|ELITE
Erin Palmer, Director of Client Relations
Phone: 407-585-1080 | Email: DIIG@hanoverelite.com

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Diagnostic Imaging International Corp. (“DIIG”) may from time to time provide links to independent web sites on the Internet containing various information content relative to the Company or its industry. The Company makes no judgment or warranty with respect to the accuracy, timeliness or suitability of the content of other services or sites to which these screens link. A link to a service or site outside of the site on which you are currently located, is not an endorsement of the service or site, its content, or its sponsoring organization. It is further understood that the materials provided on this site are for information purposes only and any references to our specific publicly traded securities contained herein, do not constitute recommendations to buy or sell stock. Any investment you make will be based solely on your own evaluation of your financial circumstances and investment objectives.

Certain statements contained on www.diig.biz, which are not based on historical facts, are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995, and are subject to substantial uncertainties and risks in part detailed in the respective Company's Securities and Exchange Commission filings, that may cause actual results to materially differ from projections. Although the Company believes that its expectations are reasonable assumptions within the bounds of its knowledge of its businesses, expectations, representations and operations, there can be no assurance that actual results will not differ materially from their expectations. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the Company's ability to execute properly its business model, to raise additional capital to implement its continuing business model, the ability to attract and retain personnel - including highly qualified executives, management and operational personnel, ability to negotiate favorable current debt and future capital raises, and the inherent risk associated with a diversified business to achieve and maintain positive cash flow and net profitability. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained on DIIG’s web site will, in fact, occur.