Third Quarter 2007 Highlights
* Total revenue increased 5.0%
* Health management revenue grew 16.3% * 26 new Requests for Proposal ("RFPs") for Health Management services and
13 for Fitness Management services * After excluding a workers compensation premium refund of $0.3 million from third quarter 2006 gross profit, gross margin decreased approximately
190 basis points to 28.5% * Operating income fell to $0.2 million due in large part to unplanned overhead expenses that are believed to be short-term or non-recurring in
MINNEAPOLIS, Nov. 5 /PRNewswire-FirstCall/ -- Health Fitness Corporation (OTC Bulletin Board: HFIT), a leading provider of integrated employee health management programs, today announced financial results for the third quarter and nine months ended September 30, 2007.
For the quarter ended September 30, 2007, revenue increased 5.0% to $17.2 million, from $16.3 million for the same period last year. Gross profit during the quarter decreased 7.5% to $4.9 million, from $5.3 million for the same period last year. Gross profit for the third quarter of 2006 includes a $0.3 million benefit related to a refund of workers compensation premiums for our 2005 plan year. Operating income decreased to $0.2 million, from $2.0 million for the same period last year. Net earnings applicable to common shareholders decreased to $0.02 million, from $1.2 million in the prior year period. Net earnings per diluted share decreased to $0.00, from net earnings per diluted share of $0.06 for the same period last year.
For the nine months ended September 30, 2007, revenue increased 9.1% to
$50.7 million, from $46.5 million for the same period last year. Gross
profit during the first nine months increased 10.8% to $14.5 million, from
$13.0 million for the same period last year. Gross prof
|SOURCE Health Fitness Corporation|
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