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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Hooper Holmes Announces First-Quarter 2012 Results

Hooper Holmes (NYSE Amex:HH) today announced financial results for the quarter ended March 31, 2012.

Consolidated revenues totaled $38.8 million for the first quarter of 2012, representing a 4% revenue decline from $40.6 million in the first quarter of 2011. The Company recorded a net loss of $3.1 million for the first quarter of 2012, or $(0.05) per share, compared to a net loss of $0.1 million, or $0.00 per share, in the first quarter of 2011. The net loss for the first quarter of 2012 includes $0.6 million of restructuring charges. The net loss for the first quarter of 2011 included $0.1 million of restructuring charges.

"The loss for the quarter reflects the incremental costs associated with the investments we made in 2011," said Ransom J. Parker, President and CEO of Hooper Holmes. "It reflects the targeted hiring of IT professionals as part of our systems investments. It reflects hiring new salespeople to sign up new agents and producers, which should lead to unit growth in the back half of this year. It reflects new business development and sales talent in Health and Wellness, to maintain and expand our historically strong growth. A significant portion of the loss is also attributable to the severance costs of adjusting our workforce to reflect the efficiencies we’re now recognizing from our new systems and other investments."

Mr. Parker continued, "These results are consistent with our plans to deliver profitable growth. We continue to take actions that are expected to deliver revenue growth in the third and fourth quarters of 2012. Our operating targets are to end 2012 with consolidated revenue growth, led by growth in Portamedic and consistently strong growth in Health & Wellness; positive cash flow from operations; a secure cash position with no borrowings; and profitability, excluding restructuring charges."

"The Board wishes to emphasize its commitment and support of the significant investments that had to be made in order to establish the proper foundation to support our drive for future revenue growth and profitability," said Ronald V. Aprahamian, Chairman of the Board of Hooper Holmes. "While our overall turnaround has taken longer, and cost more than preferred, we believe our management team has taken the right steps that will leave us well positioned going into 2013 and beyond."

Stock quotes in this article: HH 

Select the service that is right for you!

COMPARE ALL SERVICES
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.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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