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Biotech / Medical : Health Management Systems, Inc. (HMSY)- Great BuY!

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From: JakeStraw	8/1/2008 8:17:50 AM
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HMS Holdings Corp. Announces Q2 2008 Results; Raises Guidance Friday August 1, 7:45 am ET biz.yahoo.com Second Quarter Revenue Increases 26% Over Prior Year NEW YORK, Aug. 1 /PRNewswire-FirstCall/ -- HMS Holdings Corp. (Nasdaq: HMSY) today announced its financial results for the second quarter of 2008. For the quarter ended June 30, revenue increased 26.0% to $44.2 million, compared with $35.1 million for the same period a year ago. Net income for the quarter was $5.0 million or $0.19 per diluted share compared to net income of $3.8 million or $0.15 per diluted share for the same period a year ago. Adjusted EBITDA for the quarter increased 22.6% to $12.4 million versus $10.1 million for the same period a year ago. "HMS is carrying a higher rate of growth out of the first half than we had originally projected, with both our state agency and managed care product lines performing strongly," said Robert Holster, HMS Chairman and CEO. "As a result, we are raising annual 2008 guidance to $175 million in revenue and $0.75 earnings per diluted share, which represent growth over 2007 of 19% and 32%, respectively."

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