Ben R. Leedle, Jr., president and chief executive officer of Healthways, Inc. (NASDAQ: HWAY), today announced financial results for the second quarter ended June 30, 2012. Total revenues increased to $170.2 million for the quarter from $169.6 million for the second quarter of 2011. Net income for the second quarter of 2012 was $5.1 million, or $0.15 per diluted share, compared with $5.8 million, or $0.17 per diluted share, for the second quarter of 2011.
|COMPARISON OF COMPONENTS OF NET INCOME PER DILUTED SHARE|
|Three Months Ended|
|Net income per diluted share||$||0.15||$||0.17|
Leedle remarked, “Our second-quarter results represent a meaningful step toward achieving our business objectives for 2012. Both our second-quarter revenues and earnings exceeded our expectations due to earlier than expected recognition of performance-based fees. In addition to further validating the strength of our solutions, these performance-based fees contributed to our success in more than offsetting the comparable-quarter $14.9 million revenue decline for the second quarter from the previously announced wind-down of the Cigna contract. Excluding Cigna, our comparable-quarter revenues increased 11%, following 13% growth in revenues, calculated on the same basis, for the first quarter of 2012 (see pages 8 and 9 for a reconciliation of GAAP and non-GAAP measures).
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