HealthStream Announces Fourth Quarter & Full Year 2012 Results

HealthStream, Inc. (NASDAQ: HSTM), a leading provider of learning, talent management, and research solutions for healthcare organizations, announced today results for the fourth quarter and full year ended December 31, 2012.

Highlights:

Fourth Quarter
  • Revenues of $27.8 million in the fourth quarter of 2012, up 27% from revenues of $21.9 million in the fourth quarter of 2011
  • Operating income of $3.3 million in the fourth quarter of 2012, up 12% from operating income of $3.0 million in the fourth quarter of 2011
  • Net income of $1.8 million in both the fourth quarter of 2012 and 2011, up 2% over the prior year quarter, and earnings per share (EPS) of $0.07 per share (diluted) for both the fourth quarter of 2012 and 2011
  • Adjusted EBITDA 1 of $5.5 million in the fourth quarter of 2012, up 17% from $4.7 million in the fourth quarter of 2011
  • Launch of post-acute care market strategy, expanding market opportunity for core talent management products

Full Year
  • Revenues for 2012 of $103.7 million, up 26% from revenues of $82.1 million in 2011
  • Operating income of $13.5 million in 2012, up 19% from operating income of $11.3 million in 2011
  • Net income of $7.6 million in 2012, up 10% from net income of $6.9 million for 2011, and EPS of $0.28 per share (diluted) for 2012, compared to EPS of $0.29 per share (diluted) for 2011
  • Adjusted EBITDA 1 of $21.2 million for 2012, up 21% from $17.5 million for 2011
  • 2,937,000 healthcare professional subscribers fully implemented on our Internet-based learning network at December 31, 2012, up 14% from 2,572,000 at December 31, 2011

Financial Results:

Fourth Quarter 2012 Compared to Fourth Quarter 2011

Revenues for the fourth quarter of 2012 increased $5.9 million, or 27 percent, to $27.8 million, compared to $21.9 million for the fourth quarter of 2011.

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