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BPO Management Services Announces Financial Results for Fourth Quarter and Full Year 2008
Date:4/1/2009

Revenue Increases 71% for the Year as Demand Remains Strong Across All Business Segments

Company Expects 35% Sequential Increase in Revenue for Q1 09 as Healthaxis Integration Proceeds According to Plan

ANAHEIM, Calif., April 1 /PRNewswire-FirstCall/ -- BPO Management Services Inc., (OTC Bulletin Board: HAXS), a full-service healthcare and business process outsourcing company focused on serving the middle-market, today announced its financial results for the fourth quarter and full year 2008 ended December 31, 2008. The income statement does not reflect the merger of BPO Management Services and Healthaxis, Inc., which was completed on December 30, 2008.

Operational Highlights

  • BPOMS continues to experience solid growth in its ITO business segment as the Company continues to sign long-term, recurring revenue contracts. Concurrent with this effort, expenses for this segment were higher, as a percentage of revenue, than normal as the Company ramps up to support new contract revenue. Typically, there is a 3 to 6 month lag after contract signing before new revenue commences, while customer systems are being migrated. During this short period of time, the Company will experience higher expense levels without matching revenue.

  • BPOMS signed a multi-year agreement to provide ITO services to Forrest T. Jones & Company, Inc. (FTJ), an insurance agency and administrator. Under the terms of this agreement BPOMS will host and manage FTJ's IT infrastructure environment, including monitoring, support and maintenance of all related network components and devices from BPOMS full-service 24/7/365 support center located in Pearl River, NY. BPOMS will also provide dedicated Disaster Recovery services from its high-availability recovery center in Branchburg, NJ.

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SOURCE BPO Management Services, Inc.
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