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Authentidate Holding Corp. Reports Fiscal 2012 Fourth Quarter And Year End Results

Stocks in this article: ADAT

Revenues for the quarter ended June 30, 2012 were approximately $1,012,000 compared to $779,000 for the prior year period. These results reflect an increase in revenues from our telehealth products and services, partly offset by lower revenues from our hosted software services due primarily to the acquisition of one of our customers and the related contract expiration. Revenues for the fourth quarter increased approximately 32% compared to the third quarter of fiscal 2012 due to higher revenues from both our telehealth products and services and our hosted software services.

Net loss from continuing and discontinued operations for the quarter ended June 30, 2012 was $2,755,000 or $0.13 per share, compared to $2,062,000, or $0.11 per share, for the prior year period. The increase in net loss for the quarter is due primarily to higher cost of revenues related to the increase in telehealth revenues, higher selling, product development and stock option expenses and the non-cash amortization of acquired licenses and debt discount on the senior secured notes payable.

Revenues for the year ended June 30, 2012 were approximately $3,188,000 compared to $2,936,000 for the prior year period. These results reflect the same trends as the fourth quarter.

Net loss from continuing and discontinued operations for the year ended June 30, 2012 was approximately $8,352,000, or $0.35 per share, compared to $12,555,000, or $0.59 per share, for the prior year period. The net loss for the year reflects the same trends as the fourth quarter. The net loss for the prior year period reflects a loss from discontinued operations, including a non-cash goodwill impairment charge of approximately $5.4 million, offset in part by a gain on the sale of certain non-core assets.

At June 30, 2012, cash, cash equivalents and marketable securities amounted to approximately $2,246,000 and the company had working capital of approximately $4,802,000.

Conference Call Details

Management will host a conference call on Wednesday, October 10, 2012, at 4:30 p.m. ET, to discuss the fourth quarter and fiscal 2012 financial results. The dial-in number for callers in the U.S. is (877) 869-3847 and the dial in number for international callers is 1 (201) 689-8261.

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