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Streamline Health Solutions Management Discusses Q1 2013 Results - Earnings Call Transcript

Stocks in this article: STRM

We are very pleased with the financial performance for the quarter, and as noted in our press release earlier this morning, our first quarter performance was very strong from many vantage points. Steve Murdock, our Chief Financial Officer, will discuss some of the more pertinent financial performance numbers with you in a few minutes. However, at this point in our presentation, I wanted to take the opportunity to give you my thoughts on some of our recent accomplishments.

I believe it is clear that we are continuing to make meaningful progress against our strategic initiatives, and to a great extent, are accelerating at a pace that exceeds our own projections. Forward momentum on the process of heightening our focus as a results-driven enterprise is well underway. During the first quarter, we made significant gains on each of our 4 strategic goals for this fiscal year. First, we are well into the process of investing in our human capital, but some hiring has lagged. Our operational and sales teams performed exceptionally well in the quarter despite being significantly understaffed. Our plan is to build for growth so that we may provide world-class healthcare information technology solutions to our growing list of clients. That being said, we are also seeing increased cross-sell opportunities within our current client base, as well as net new client acquisition opportunities. Therefore, we have increased the headcount in our sales team during and subsequent to the end of the first quarter.

Additionally, we have several internal, technical and administrative projects in process that, when completed, will position us to better address the growth we see being generated from the sales organization. Second, we have expanded our sales footprint to capture a greater share of net new sales opportunities. Our relationship with FTI Consulting, announced in January of this year, while in its early stages, is adding significantly to our sales pipeline opportunities. Since the inception of that agreement, we have closed 3 transactions with their participation.

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