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Streamline Health® Solutions Reports Q4 Results
Date:4/12/2011

CINCINNATI, April 12, 2011 /PRNewswire/ -- Streamline Health Solutions, Inc. (Nasdaq: STRM) today announced financial results for the fourth quarter of fiscal year 2010, ended January 31, 2011.

Highlights for the quarter included:

  • Company secured two new accessANYware™ purchase contracts for add-on licenses with existing clients totaling approximately $800,000; of which $450,000 of systems revenue was recognized during the quarter;
  • Company completed and delivered a new enterprise Referral Order Workflow (ROW) license from third quarter backlog resulting in $220,000 of systems revenue recorded in the fourth quarter;
  • Total system sales for the quarter were $867,000;
  • Professional services revenues improved by 44% versus the fourth quarter of the prior year;
  • Application hosting recurring revenues for the quarter increased 7% over the prior comparable quarter;
  • New bookings for the quarter, excluding maintenance revenue, exceeded $1.9 million;
  • Backlog at year end was $17.6 million

  • Revenues for the fourth quarter totaled $4.9 million, compared to $6.3 million in the prior year fourth quarter, which benefitted from a $1.7 million system sale  as a result of delivery of the newly developed accessANYware platform when it reached General Availability status in January 2010.  In fiscal 2010 the Company generated $867,000 in system sales. These system sales included nearly $450,000 from two new accessANYware add-on sales to existing clients. The Company also completed and delivered from backlog a $220,000 Referral Order Workflow solution that was sold to a Texas hospital in the third quarter.

    Professional services revenues improved by $328,000 or 44% over the prior comparable period.  Recurring revenues from maintenance contracts improved by 5% or $95,000 over the prior comparable fourth qua
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    SOURCE Streamline Health Solutions, Inc.
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