BERKELEY HEIGHTS, N.J., Feb. 13, 2014 (GLOBE NEWSWIRE) -- Authentidate Holding Corp. (Nasdaq:ADAT), a provider of secure, web-based software applications and telehealth products and services for healthcare organizations, today announced financial results for the three-month and six-month periods ended December 31, 2013. Selected highlights for the second quarter include:
- Increased revenues approximately 39% for the second quarter compared to the prior year quarter, led by an increase of approximately 163% in telehealth revenues.
- Improved operating margins compared to the prior year and reduced operating and net losses compared to the prior year and sequentially from the first quarter of fiscal 2014.
- Added Jeffrey A. Beunier to the board of directors. Mr. Beunier is the founder and principal of Open Choke Capital Management, LLC, which provides consulting services to private and institutional investors as well as public companies focusing on energy related transactions, monetization strategies and strategic advisory assignments. He also advises independent oil and gas operators on capital structure and funding sources. Mr. Beunier serves on the advisory board, and is a limited partner, of Lazarus Investment Partners, LLLP and was elected to the board pursuant to the Board Nomination and Observer Agreement between the company and Lazarus Investment Partners.
- Strengthened the company's balance sheet with the completion of a private placement transaction of the company's common stock and warrants for net proceeds of approximately $2.4 million.