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HMS Holdings Corp. Announces First Quarter 2009 Financial Results
Date:5/1/2009

(220) -------- -------- Total shareholders' equity 190,869 178,362 -------- -------- Total liabilities and shareholders' equity $226,167 $222,513 -------- -------- HMS HOLDINGS CORP. AND SUBSIDIARIES Consolidated Statements of Cash Flows For the Three months ended March 31, 2009 and 2008 (in Thousands) (unaudited) Three months ended March 31, 2009 2008 ------- ------- Operating activities: Net income $5,705 $3,173 Adjustments to reconcile net income to net cash provided by operating activities: Loss on disposal of fixed assets 1 - Depreciation and amortization 3,359 2,911 Share-based compensation expense 1,308 798 Decrease in deferred tax asset 271 47 Changes in assets and liabilities: Increase in accounts receivable (1,392) (2,252) Decrease in prepaid expenses and other current assets 751 677 Decrease (increase) in other assets 1 (4) Decrease in accounts payable, accrued expenses and other liabilities* (5,845) (8,855)
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