A.D.A.M., Inc. Announces Financial Results for Third Quarter 2007
biz.yahoo.com
Tuesday November 6, 6:21 am ET
Revenues Increase 49%; Net Income increases 62%
ATLANTA--(BUSINESS WIRE)--A.D.A.M., Inc. (NasdaqCM: ADAM) today announced financial results for its third quarter ended September 30, 2007.
Kevin Noland, President and Chief Executive Officer of A.D.A.M., commented, “The progress demonstrated in our third quarter results underscores the efforts we are making in aligning our business for future growth. The launch of Benergy 2G! during the quarter, which to date has been received with enthusiastic response, significantly enhances our ability to capitalize on marketplace needs for effective communication tools for employees regarding their health, wellness and benefit programs.”
Third Quarter Financial Highlights:
* Revenues for the third quarter 2007 were $6,676,000 as compared to $4,473,000 in the same period last year, an increase of 49%. The increase is primarily attributable to A.D.A.M.’s acquisition of OnlineBenefits, Inc. in August, 2006 and additional sales of our health content licensing products.
* Operating income for the third quarter 2007 was $1,345,000 as compared to $680,000 in the same period last year. Adjusted operating income for the third quarter, which excludes non-cash stock-based compensation and amortization expense from purchased intangibles associated with the acquisition of OnlineBenefits, was $1,788,000 as compared to $1,034,000 for the same period last year, an increase of 73%.
* Adjusted EBITDA was $2,085,000 for the third quarter 2007 as compared to $1,247,000 in the same period last year, an increase of 67%. Adjusted EBITDA margins for the third quarter were 31% of revenues.
* Net income for the third quarter 2007 was $788,000, or $0.07 per share, on a fully diluted basis as compared to $486,000 or $0.05 per share on a fully diluted basis for the year ago period. |
