HealthFitness Announces 2007 Fourth Quarter and Full-Ye... (ely. This total of$1.5 million will be o...)

HealthFitness Announces 2007 Fourth Quarter and Full-Year Results

Date:3/5/2008

ely. This total of $1.5 million will be offset by a potential annualized revenue loss of $2.1 million from fitness and health management contract cancellations. Of this potential annualized revenue loss of $2.1 million, $1.8 million represents fitness management contracts and $0.3 million represents health management contracts.

2007 Full-Year Results

For the year ended December 31, 2007, revenue increased 10 percent to $70.0 million, from $63.6 million during 2006. Gross profit increased 11 percent to $19.6 million from $17.6 million in 2006. Gross profit during 2006 includes a $0.3 million benefit related to a refund of workers' compensation premiums for the 2005 plan year.

Operating income was $1.9 million during 2007, compared to $3.7 million during 2006, reflecting higher expense levels due to key growth investments. Net earnings applicable to common shareholders totaled $0.9 million compared with $1.4 million in 2006. Net earnings per diluted share totaled $0.04 compared to $0.03 for the same period last year.

For 2007, the company received a total of 40 customer commitments. Of this total, health management commitments totaled 33 and fitness management commitments totaled seven. In addition, the company received a total of 141 RFPs. Of this total, health management RFPs totaled 107 and fitness management RFPs totaled 34.

Lehman concluded, "As forecasted, we invested for future growth during 2007. We implemented strategies that we expect will translate into a stronger platform of health and fitness management offerings going forward. We believe that the current level of RFP activity, when combined with our revenue backlog, positions us for growth acceleration in 2008. We believe we will be increasingly successful at leveraging our base of fitness management customers for commitments in our health management platform-a top strategic priority. This sets the stage for 2008, where we will be focused on leveraging our past investme
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SOURCE Health Fitness Corporation
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