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HealthFitness Announces 2008 Second Quarter Results
Date:8/4/2008

usiness growth. Net earnings applicable to common shareholders totaled $0.7 million, flat with the prior-year period. Net earnings per diluted share totaled $0.03 compared to $0.03 for the same period last year.

For the six months ended June 30, 2008, the company received a total of 11 health management commitments, up-sold health management services to two fitness management customers and expanded services for four fitness management customers, all of which may realize annualized revenue of $4.4 million. This total annualized revenue will be partially offset by a potential annualized revenue loss of $0.6 million from fitness management contract cancellations.

Lehman concluded, "For the first six months of 2008, we have received a total of 51 health management and 16 fitness management RFPs, which is comparable to the number we received halfway through 2007. Despite the challenging economy, a number of these RFPs have developed into an active sales pipeline that includes an above-average number of potential opportunities. As we enter the last half of 2008, we are confident in the strength of our service offerings, our ability to secure new customer commitments and the continued growth of our health management segment, which drives the opportunity to improve operating margins."

Balance Sheet

The company ended the second quarter of 2008 with $0.2 million in cash, compared to $1.9 million at the end of 2007, the decrease of which reflects the company's $2.3 million stock repurchase during the second quarter of 2008. Working capital at June 30, 2008 totaled $7.6 million, a decrease of approximately $0.9 million compared to December 31, 2007. At June 30, 2008, the company did not have any long-term debt and stockholders' equity totaled $25.5 million.

2008 Second Quarter Business Segment Information

Revenue and gross profit information by segment:

Health Management


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SOURCE Health Fitness Corporation
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