HealthStream Announces Third Quarter 2012 Results

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

Highlights:
  • Revenues of $26.4 million in the third quarter of 2012, up 28% from revenues of $20.6 million in the third quarter of 2011
  • Operating income of $3.7 million in the third quarter of 2012, up 39% from operating income of $2.7 million in the third quarter of 2011
  • Net income of $2.0 million in the third quarter of 2012, up 10% from net income of $1.8 million in the third quarter of 2011, and earnings per share (EPS) of $0.07 per share in the third quarter of 2012, compared to EPS of $0.08 per share in the third quarter of 2011
  • Adjusted EBITDA 1 of $5.7 million in the third quarter of 2012, up 30% from $4.4 million in the third quarter of 2011
  • Acquired Sy.Med Development, Inc. on October 19, 2012

Financial Results: Third Quarter 2012 Compared to Third Quarter 2011

Revenues for the third quarter of 2012 increased $5.8 million, or 28 percent, to $26.4 million, compared to $20.6 million for the third quarter of 2011.

Revenues from HealthStream Learning increased by $5.5 million, or 37 percent, when compared to the third quarter of 2011. Revenues from our Internet-based subscription products increased by approximately $4.9 million, or 35 percent, over the prior year third quarter due to a higher number of subscribers and more courseware consumption by subscribers. Revenues from project-based services increased $503,000 over the prior year third quarter. Revenues from SimVentures, our collaborative arrangement with Laerdal Medical A/S, increased to $419,000, a $98,000 increase over the prior year third quarter.

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