BASKING RIDGE, N.J., May 9 /PRNewswire-FirstCall/ -- Hooper Holmes, Inc. (Amex: HH), a leading provider of healthcare assessment services, today announced financial results for the first quarter ended March 31, 2008.
For the three months ended March 31, 2008, total revenues decreased 5.3% to $59.1 million compared to $62.4 million in the first quarter of 2007. The Company recorded a net loss of $0.6 million for the first quarter of 2008, or $(0.01) per share compared to a net loss of $1.7 million, or $(0.02) per share in 2007. The first quarter 2008 results include a loss from continuing operations of $0.6 million, or $(0.01) per share compared to a loss from continuing operations of $1.6 million, or $(0.02) per share in the prior year. The first quarter 2008 loss includes restructuring and other charges of $1.7 million, while the first quarter loss for 2007 included restructuring and other charges of $0.5 million.
First Quarter 2008 Results by Division
Health Information Division (HID)
The Company's Health Information Division reported revenues of $52.4
million for the three months ended March 31, 2008 compared to $54.5 million
in the prior year period.
-- Portamedic revenues decreased approximately 6.1% to $36.5 million,
compared to $38.9 million in the first quarter of 2007. This decrease
is the result of a reduction in paramedical exams of approximately 11%
in comparison to the corresponding period of 2007, partially offset by
higher average revenue per exam of 6% due to increased pricing.
-- Infolink revenues were $6.6 million, down 4.2% from $6.9 million in the
first quarter of 2007, primarily due to a decrease in the number of
|SOURCE Hooper Holmes, Inc.|
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