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HealthStream Announces Second Quarter 2012 Results

HealthStream, Inc. (NASDAQ: HSTM), a leading provider of learning and research solutions for the healthcare industry, announced today results for the second quarter ended June 30, 2012.

Highlights:

  • Revenues of $25.8 million in the second quarter of 2012, up 23% from revenues of $21.1 million in the second quarter of 2011
  • Operating income of $4.0 million in the second quarter of 2012, up 30% from operating income of $3.1 million in the second quarter of 2011
  • Net income of $2.4 million in the second quarter of 2012, up 33% from net income of $1.8 million in the second quarter of 2011, and earnings per share (EPS) of $0.09 per share in the second quarter of 2012, compared to EPS of $0.08 per share in the second quarter of 2011
  • Adjusted EBITDA 1 of $5.9 million in the second quarter of 2012, up 27% from $4.6 million in the second quarter of 2011
  • Acquired Decision Critical, Inc. in June of 2012

Financial Results:

Second Quarter 2012 Compared to Second Quarter 2011

Revenues for the second quarter of 2012 increased $4.8 million, or 23 percent, to $25.8 million, compared to $21.1 million for the second quarter of 2011.

Revenues from HealthStream Learning increased by $4.9 million, or 34 percent, when compared to the second quarter of 2011. Revenues from our Internet-based subscription products increased by approximately $4.2 million, or 31 percent, over the prior year quarter due to a higher number of subscribers and more courseware consumption by subscribers. Revenues from project-based services increased $696,000 over the prior year quarter. Revenues from SimVentures, our collaborative arrangement with Laerdal Medical A/S, increased $244,000 over the prior year quarter; $392,000 was delivered in the second quarter of 2012 compared to $148,000 during the second quarter of 2011.

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