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Healthways Reports Fourth-Quarter Revenues Of $175.2 Million

Stocks in this article: HWAY

Ben R. Leedle, Jr., president and chief executive officer of Healthways, Inc. (NASDAQ: HWAY), today announced financial results for the fourth quarter and year ended December 31, 2012. For the fourth quarter, total revenues were $175.2 million compared with $180.0 million for the fourth quarter of 2011. Net income per diluted share for the fourth quarter of 2012 was $0.02 compared with a loss for the fourth quarter of 2011 of $5.32. Excluding a restructuring charge of $0.03 per diluted share for capacity realignment costs, adjusted net income per diluted share for the fourth quarter of 2012 was $0.05. For the fourth quarter of 2011, adjusted net income per diluted share was $0.27, excluding restructuring charges related to severance costs and Cigna-dedicated capacity reductions and impairment charges related to the write down of goodwill.

Total revenues for 2012 were $677.2 million compared with $688.8 million for 2011. Net income per diluted share for 2012 was $0.24 compared with a net loss per diluted share for 2011 of $4.68. Excluding the restructuring and impairment charges discussed above, adjusted net income per diluted share was $0.27 for 2012 compared with $0.85 for 2011.



See pages 8-9 for a reconciliation of GAAP and non-GAAP measures


3 Months Ended

12 Months Ended

December 31,

December 31,



2011 (1)



2011 (1)

Domestic, excluding restructuring and impairment charges

$ 0.00 $ 0.31 $ 0.26 $ 0.98
International, excluding restructuring charges   0.05     (0.04 )   0.01     (0.13 )
Adjusted net income per diluted share 0.05 0.27 0.27 0.85
Restructuring charges (2) (0.03 ) (0.17 ) (0.03 ) (0.16 )
Impairment charges (2)   -     (5.43 )   -     (5.36 )
Net income (loss) per diluted share (3) $ 0.02 $ (5.32 ) $ 0.24 $ (4.68 )

(1) The assumed exercise of stock-based compensation awards for the three and twelve months ended December 31, 2011 was not considered because the impact would be anti-dilutive.

(2) Per-share results differ for the three and twelve months ended December 31, 2011 due to different weighted average outstanding shares and equivalents for each period.

(3) Figures may not add due to rounding.


Leedle remarked, “Healthways’ financial and operating performance for the fourth quarter and the year was on track strategically, tactically and financially with our plans to return the Company to a path of consistent profitable growth. Because of the strong business development success we achieved during 2012, we have strong visibility to a return to revenue growth in 2013 and beyond. We are also confident that the ramping of our existing contract base during 2013, along with expected new and renewed contracts signed in 2013, will provide for a full return to sustainable profitable growth for 2014 and beyond.”

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