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Authentidate Holding Corp. Reports Fiscal 2009 Third Quarter Results
Date:5/14/2009

BERKELEY HEIGHTS, N.J., May 14 /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 third quarter ended March 31, 2009.

Operating highlights for the third quarter of fiscal 2009:

  • Three new client agreements announced for Inscrybe Healthcare, including Total e-Medical, UroMed and SuperCare
  • Announced the termination of merger agreement with Parascript
  • Company repurchases 547,000 shares of common stock
  • Members of the management team and board of directors purchased approximately one million shares of common stock

"Our financial results in the third quarter of 2009 reflect further revenue growth and a lower net loss. These improved results are attributable to new and existing customers ramping up their usage of our Inscrybe Healthcare services and certain cost cutting measures implemented in 2008," stated Ben Benjamin, President of Authentidate. "During the quarter we have seen positive results from our marketing efforts and announced three new client agreements, all of which are in the process of being implemented. We have also seen other clients expand their use of our services through the addition of new modules during the fiscal year."

Mr. Benjamin continued, "During the fiscal third quarter we made significant progress with new initiatives, which we previously announced in early April. These initiatives include our arrangement with Nortel and our telehealth joint venture, ExpressMD. We anticipate revenue from the Nortel partnership to start soon and revenue from sales of ExpressMD's system and services to start in the fourth quart
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SOURCE Authentidate Holding Corp.
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