Navigation Links
HealthGrades Expects Third Quarter Revenue of Approximately $10 Million : Full-Year 2008 Ratings and Advisory Revenue to Be $39 Million to $40 Million Company Provides Update on Stock Repurchase Program
Date:10/14/2008

Health Grades, Inc. (NASDAQ:HGRD), the leading independent healthcare quality ratings company, today announced that it expects total revenue for the third quarter ended September 30, 2008 to be approximately $10 million. This represents an increase of 23% compared with the third quarter of 2007.

GOLDEN, Colo. (Business Wire EON) October 14, 2008 -- HealthGrades also announced that it now expects full-year 2008 ratings and advisory revenue to be in the range of $39 million to $40 million, compared with previous guidance of $41 million to $43 million. This new guidance represents growth of 19% to 22% compared with 2007 and includes only a modest contribution from the acquisition of WrongDiagnosis.com, which the Company announced today. HealthGrades affirms guidance for 2008 operating margin to be in the range of 17% to 21%.

Since June 30, 2008, the Company has repurchased 666,871 shares of its common stock for an aggregate purchase price of approximately $2.3 million. In 2008 the Company has repurchased 2,097,742 shares of its common stock for an aggregate purchase price of approximately $10.0 million.

"There is significant interest in our sponsorship and advertising programs and traffic to the HealthGrades Web site is at record levels," said Kerry Hicks, CEO of HealthGrades. "However, revenue growth in the Internet Business Group is below our previous internal forecast due to fewer-than-expected new advertisers and lower-than-expected advertising rates. Given the current economic and business environment, we do not expect advertising spending or rates to improve before the end of the year. In addition, while we are seeing our new sales pipeline build in our Provider Services business, the sales cycle is extending in this area as well. We do not believe this is a reflection on the long-term prospects of this business, but rather hospitals are taking a bit more time to make purchasing decisions in the current economic climate."

The Company plans to report financial results for the third quarter before the market opens on October 30, 2008. HealthGrades management will discuss quarterly results and comment on the outlook for the remainder of the year in an investment community conference call and webcast that same day beginning at 11:00 a.m. Eastern time.

About Health Grades, Inc.

HealthGrades is the leading independent healthcare ratings company, providing ratings and profiles of hospitals, nursing homes and physicians to consumers, corporations, health plans and hospitals. Millions of consumers and many of the nation's largest employers, health plans and hospitals rely on HealthGrades' independent ratings and decision-support resources to make healthcare decisions based on the quality and cost of care. More information on the Company can be found at http://www.healthgrades.com.

Forward-Looking Statements

This press release contains forward-looking statements, including without limitation statements relating to the Company's expected revenue for the third quarter 2008, and ratings and advisory revenue for the full year 2008. Actual results may differ materially from those described in such forward-looking statements due to several factors, including without limitation, slower than expected adoption of some of the Company's newer product areas such as advertising/sponsorship sales, a decline in advertising rates, a decline in anticipated contract retention rates, the Company's inability to enter into meaningful contractual arrangements and to successfully expand certain lines of business and other factors described in the Company's filings with the Securities and Exchange Commission, especially the section entitled "Risk Factors" in its 2007 Annual Report on Form 10-K. The Company does not undertake to update its forward-looking statements.

Read the full story at http://www.prweb.com/releases/third_quarter/advisory_revenue/prweb1470794.htm


'/>"/>
Source: PRWeb
Copyright©2008 Vocus, Inc.
All rights reserved

Related medicine news :

1. Death rate 70 percent lower at top-rated hospitals: HealthGrades annual hospital quality study
2. Bariatric patients have 65% lower chance of complications at top hospitals: HealthGrades study
3. HealthGrades releases Fifth Annual Womens Health in American Hospitals study
4. Medical errors cost US $8.8B, result in 238,337 potentially preventable deaths: HealthGrades study
5. Americas 50 best hospitals 2008 released by HealthGrades
6. Top hospitals have 27 percent lower mortality, annual HealthGrades study finds
7. Mortality rates 71 percent lower at top-rated hospitals: HealthGrades 2008 hospital-quality study
8. ATS Medical Expects Second Quarter Revenue of $16.7 to $16.9 Million
9. Chubb Expects to Release Earnings on July 24 and Hold Conference Call on the Same Day
10. NightHawk Radiology Holdings, Inc. Announces Preliminary Results of Its Tender Offer; NightHawk Expects to Purchase 2,367,438 Shares of Its Common Stock at $8.05 per Share
11. ATS Medical Expects Fourth Quarter Revenue to Increase by Approximately 32%
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... (PRWEB) , ... June 27, 2016 , ... ... cutting edge technology to revolutionize the emergency ambulance transport experience for the millions ... aware of how Uber has disrupted the taxi industry through the use of ...
(Date:6/26/2016)... ... 2016 , ... Pixel Film Studios Released ProSlice Levels, a Media Slicing Effect ... videos a whole new perspective by using the title layers in ProSlice Levels ... , ProSlice Levels contains over 30 Different presets to choose from. FCPX ...
(Date:6/25/2016)... ... June 25, 2016 , ... Experts from the ... AcademyHealth’s Annual Research Meeting June 26-28, 2016, at the Hynes Convention Center in ... topics including advance care planning, healthcare costs and patient and family engagement. , ...
(Date:6/25/2016)... ... ... First Choice Emergency Room , the largest network of independent freestanding emergency ... its new Mesquite-Samuell Farm facility. , “We are pleased to announce Dr. Ogunleye ... M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , Dr. Ogunleye ...
(Date:6/25/2016)... ... , ... Conventional wisdom preaches the benefits of moderation, whether it’s a matter ... bar too high can result in disappointment, perhaps even self-loathing. However, those who set ... , Research from PsychTests.com reveals that behind the tendency to set low ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... BOGOTA, Colombia , June 23, 2016  Astellas today announced the establishment of Astellas Farma Colombia ... the company,s second affiliate in Latin America . ... ... Farma Colombia ... ...
(Date:6/23/2016)... -- Guerbet announced today that it has been named a ... One of 12 suppliers to receive the ... of Premier members through exceptional local customer service and ... lower costs. "We ... customer service from Premier," says Massimo Carrara , ...
(Date:6/23/2016)... June 23, 2016 Research and ... Procedure Volumes: Global Analysis (United States, China, Japan, Brazil, ... report to their offering. ... for healthcare business planners, provides surgical procedure volume data ... trends with an in-depth analysis of growth drivers and ...
Breaking Medicine Technology: