This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

PRGX Global, Inc. Announces Fourth Quarter And Fiscal Year 2010 Financial Results

Stocks in this article: PRGX

Operating Highlights

  • Achieved fifth consecutive quarter of year-over-year revenue growth
  • Achieved fourth consecutive quarter of sequential revenue and adjusted EBITDA growth
  • Awarded first new state Medicaid healthcare audit contract
  • Increased client count reflects traction of new sales and services investments

ATLANTA, Feb. 28, 2011 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq:PRGX), the world's leader in recovery auditing and the pioneer in profit discovery services, today announced its unaudited financial results for the fourth quarter and year ended December 31, 2010.

"I am pleased to report our fifth consecutive quarter of year-over-year revenue growth. This building momentum reflects our team's ability to successfully execute our transformation and growth strategy. The business transformation that has been taking place includes reinvesting in our core recovery audit capabilities and adding four new adjacent services. Recent wins across all of our service lines reinforce our belief in the strategy. As we complete our investment program over 2011, we are confident that the results will drive top and bottom-line growth," said Romil Bahl, president and chief executive officer.

"Healthcare recovery audit continues to be an exciting growth area for us and the industry. Last year's federal legislation requiring each state to implement a Recovery Audit Contractor (RAC) program has generated a flurry of activity at the state level. We are very pleased to announce that we have been awarded our first new state Medicaid RAC contract – by the State of Mississippi – and are continuing to evaluate and bid for Medicaid RAC opportunities in additional states that meet our criteria. We look forward to leveraging our experience with both Medicare and state Medicaid RAC programs to compete successfully in the upcoming state Medicaid RAC opportunities," continued Mr. Bahl.

Discussion of Consolidated Results for Three Months Ended December 31, 2010:

Consolidated revenue for the 2010 fourth quarter amounted to $50.3 million compared to $49.5 million in the same prior year period, reflecting a 1.6% increase. After adjustment for changes in foreign exchange rates, consolidated fourth quarter revenues in 2010 increased 2.3% compared to the same period in 2009. Reported revenue for the 2010 fourth quarter increased by $3.4 million, or 7.3%, compared to the third quarter of 2010.

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs