webmd health corp (WBMD) Key Developments
WebMD Health Corp. Appoints Kristiina Vuori to its Board
Jul 7 14
WebMD Health Corp. announced that its Board of Directors has appointed Kristiina Vuori, M.D., Ph.D., President and Interim CEO of Sanford-Burnham Medical Research Institute, to the company's Board. Dr. Vuori leads the Institute's academic, scientific and general operations. Dr. Vuori also holds the Pauline and Stanley Foster Presidential Chair at the Institute and serves as Professor at the Institute's National Cancer Institute (NCI)-designated Cancer Center. From 2005 until 2013, Dr. Vuori also led the Cancer Center. Dr. Vuori serves on the Boards of Directors for the American Association for Cancer Research (AACR), the California Institute for Regenerative Medicine (CIRM), and the California Breast Cancer Research Council. Additionally, Dr. Vuori serves in a wide variety of advisory capacities to NCI and other cancer organizations. Dr. Vuori is joining WebMD's Board as an additional Class III director. Class III directors' current terms expire at the company's 2014 annual meeting of stockholders. Her appointment expands the size of WebMD's Board from 10 to 11 members.
WebMD Launches Health Improvement Program for iPhone(R) to Make Biometric Data Understandable and Actionable
Jun 16 14
WebMD Health Corp. launched WebMD Healthy Target, an integrated health improvement program that uses biometric device data from activity trackers, wireless scales and glucose meters to deliver tailored, physician-reviewed, contextually relevant content and motivational tips to individuals looking to develop sustainable health-conscious habits. WebMD Healthy Target will provide valuable assistance to individuals looking to manage chronic conditions like Type 2 diabetes and obesity, as well as to a broader audience interested in achieving their fitness goals or more generally living a healthier lifestyle.
WebMD Health Corp. Presents at Washington Biotechnology & Biomedical Association 14th Annual Life Science Innovation Northwest 2014, Jun-20-2014 02:40 PM
Jun 11 14
WebMD Health Corp. Presents at Washington Biotechnology & Biomedical Association 14th Annual Life Science Innovation Northwest 2014, Jun-20-2014 02:40 PM. Venue: Washington State Convention Center, Seattle, Washington, United States. Speakers: Dave Chase, Senior Vice President.
Court Limits Claim Construction in MyMedicalRecords Patent Litigation
May 29 14
MMRGlobal, Inc., through its wholly owned subsidiary, MyMedicalRecords, Inc. announced that on May 28th, the United States District Court, Central District of California issued a significant order in the MyMedicalRecords, Inc. patent cases against Quest Diagnostics, Inc., WebMD Health Corp., Jardogs, LLC and Allscripts Healthcare Solutions, Inc. The order was issued in advance of an upcoming Markman hearing and pertains to scheduling of a joint technology tutorial and the Court's review of a Statement of Joint Claim Construction filed on May 27, 2014. As part of its review, the Court reminded the parties of limitation of terms for purposes of claims construction. The Court found that the joint report included large portions of the claim language, which the Court said was impermissible and improper. Therefore, the Court struck the deficient statement and ordered the parties to resubmit a statement by June 5th, 2014. The Court also ordered that the technology tutorial hearing, originally scheduled for July 2, 2014, will now take place on June 18, 2014. The Court expects the parties to meet and confer and present a tutorial that explains the technology disclosed in the patents.
WebMD Health Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Second Quarter Ending June 30, 2014 and Full Year Ending December 31, 2014
Apr 30 14
WebMD reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company announced revenue of $133.8 million compared to $112.762 million a year ago. Income before income tax provision was $11.091 million compared to loss of $1.312 million a year ago. Net income was $6.266 million or $0.15 per diluted share compared to loss of $1.538 million or $0.03 per basic and diluted share a year ago. Adjusted EBITDA was $33.266 million compared to $21.289 million a year ago. Net cash provided by operating activities was $7.903 million compared to $11.045 million a year ago. Purchases of property and equipment were $5.533 million compared to $2.876 million a year ago. EBITDA was $33.3 million, compared to $21.3 million in the prior year period, an increase of 56%.
For the second quarter ending June 30, 2014, the company expects revenue of about $137 to $140 million, an increase of approximately 9% to 12% from the prior year period. Net income will be in the range of $7.5 to $8.5 million. Adjusted EBITDA is forecasted to be between $35.5 million to $37.5 million, an increase of approximately 21% to 28% from the prior year period.
For the full year ending December 31, 2014, the company expects revenue in the range of $560 to $575 million and diluted EPS of $0.77 to $0.87. Adjusted EBITDA will be in the range of $147.5 to $155 million. Interest expense will be in the range of $25 to $25 million. Depreciation and amortization will be in the range of $28 to $30 million. Pre-tax income will be in the range of $57.5 to $70 million. Income tax provision will be in the range of $25 to $31 million. Net income will be in the range of $32.5 to $39 million.