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Authentidate Holding Corp. Reports Fiscal 2009 Second Quarter Results
Date:2/12/2009

BERKELEY HEIGHTS, N.J., Feb. 12 /PRNewswire-FirstCall/ -- Authentidate Holding Corp. (Nasdaq: ADAT), a worldwide provider of secure Health Information Exchange and workflow management services, today announced financial results for the fiscal 2009 second quarter ended December 31, 2008.

Ben Benjamin, President of Authentidate, stated, "Revenue growth slowed during the second quarter of fiscal 2009 as poor economic conditions impacted our results. Although total revenues were down slightly from the prior year and the first quarter of fiscal 2009, we reduced our net loss as a result of our cost management activities and we have continued to reduce our operating cash needs. We believe we are well positioned to benefit from emerging trends in the healthcare market and remain confident that demand for our products and services will grow as healthcare providers search for solutions to reduce costs and enhance patient care."

Total revenue for the three months ended December 31, 2008 was approximately $1,604,000 compared to $1,661,000 for the same period last year. These results reflect an increase of approximately 27% in U.S. revenues, which was offset by a decrease in revenues from our German operation due to the timing of certain contract awards. Compared to the first quarter of fiscal 2009, total revenues decreased approximately 5% reflecting the timing of contract awards, the strengthening dollar and a slight decrease in transaction volume during the current quarter.

Net loss for the second quarter of fiscal 2009 decreased to $2,554,000, or $0.07 per share, compared to $5,476,000, or $0.16 per share, for the same period last year. The net loss for the current period includes the write-off of approximately $900,000, or $0.03 per share, of deferred deal expenses related to the termination of the Parascript merger.
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SOURCE Authentidate Holding Corp.
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