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HealthFitness Announces 2008 Third Quarter Results
Date:11/3/2008

omers. In addition, the company received two fitness management commitments and expanded services with four fitness management customers. Combined commitment and service-expansion activity for the first nine months of 2008 may realize annualized revenue of $6.1 million, to be partially offset by a potential annualized revenue loss of $1.7 million from contract cancellations.

Through the first nine months, the company had received 71 new RFPs for health management services and 21 new RFPs for fitness management services.

Balance Sheet

The company ended the third quarter of 2008 with $0.5 million in cash, compared to $1.9 million at the end of 2007; the decrease primarily reflects the company's $2.3 million stock repurchase during the second quarter of 2008. Working capital at September 30, 2008 totaled $9.0 million, up approximately $0.4 million compared to December 31, 2007. At September 30, 2008, the company had no balance outstanding on its $3.25 million credit facility, and had stockholders' equity of $26.6 million.

Reverse Stock Split

On October 6, 2008, the company completed a one-for-two reverse split of its common stock. All common share information and all "per share" information related to our common stock in this release has been restated to reflect the one-for-two reverse split.

HealthFitness listed on NYSE Alternext US

On October 21, 2008, the company announced the approval of its application to list its common stock on the NYSE Alternext US, formerly the American Stock Exchange. Trading on the NYSE Alternext US began on Wednesday, Oct. 22, 2008 under the ticker symbol FIT.

Conference Call

Health Fitness Corporation will host a conference call today, November 3, 2008, at 4 p.m. Central (2 p.m. Pacific; 5 p.m. Eastern). Participating in the call will be Gregg Lehman, Ph.D., president and chief executive officer, and Wes Winnekins, chief financial officer. To listen to the call from the U.S., d
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SOURCE Health Fitness Corporation
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