Shares of A.D.A.M.(ADAM Quote) were among the worst-performing health-related stocks Tuesday, sliding 25% after the medical information company posted fourth-quarter results that disappointed investors.
The company reported a loss of $505,000, or 5 cents a share, on revenue of $2.5 million. Excluding items, the company earned $436,000, or 5 cents a share. During the year-earlier period, the company earned $676,000, or 7 cents a share, on revenue of $2.5 million. The company's latest results were hurt by a big rise in general and administrative expenses, which climbed to $1.3 million from $345,000 during the year-earlier period. Total operating costs and expenses rose to nearly $3 million during the fourth quarter, up from $1.8 million a year earlier. Shares were trading down $2.63 to $7.79. Air Methods(AIRM Quote) shares rose 7% after the company swung to a fourth-quarter profit. The company, which provides air medical transportation services, earned $3.5 million, or 29 cents a share, reversing a year-earlier loss of $200,000, or 2 cents a share. The single-analyst forecast called for earnings of 20 cents a share. Revenue rose to $90.2 million from $68.3 million. Shares were rising $1.59 to $25.42. Shares of inVentiv Health(VTIV Quote), formerly called Ventiv Health, rose 6% after the provider of clinical services posted better-than-expected fourth-quarter results. The company reported earnings from continuing operations of $9.8 million, or 34 cents a share, on revenue of $175.3 million. Analysts expected earnings of 28 cents a share and revenue of $148.2 million. During the year-earlier quarter, the company earned $15.2 million, or 57 cents a share, on revenue of $117.4 million. Results during the year-earlier period included a tax benefit of $9.1 million, or 34 cents a share. Without the gain, the company would have earned $6.1 million, or 23 cents a share. Looking ahead, inVentiv now sees 2006 earnings of $1.43 to $1.48 a share and revenue of $705 million to $725 million. Previously, the company projected earnings of $1.39 to $1.44 a share, with revenue of $685 million to $705 million. Analysts forecast earnings of $1.44 a share and revenue of $707.1 million. Shares were trading up $1.69 to $30.82.- Loading Comments...
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