healthstream inc (HSTM) Snapshot

Healthstream Inc. Presents at William Blair & Company 33(rd) Annual Growth Stock Conference, Jun-11-2013 12:50 PM. Venue: Four Seasons Hotel, Chicago, Illinois, United States. Speakers: Robert A. Frist, Co-Founder, Chairman of the Board, Chief Executive Officer and President.

Healthstream Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of $29,646,000 against $23,674,000 a year ago. Operating income was $3,173,000 against $2,341,000 a year ago. Income before income taxes was $3,220,000 against $2,360,000 a year ago. Net income was $1,941,000 against $1,420,000 a year ago. Net income per share, basic and diluted was $0.07 against $0.05 a year ago. Net cash provided by operating activities was $3,855,000 against $3,414,000 a year ago. Purchases of property and equipment were $744,000 against $763,000 a year ago. Adjusted EBITDA was $5,359,000 against $4,117,000 a year ago. Non-GAAP revenues were $29,977,000 against $23,674,000 a year ago. Non-GAAP operating income was $3,504,000 against $2,341,000 a year ago. Non-GAAP net income was $2,141,000 against $1,420,000 a year ago. Operating income was increased by 36% compared to first quarter of 2012, primarily resulting from the strong revenue growth. Capital expenditures totaled $1.8 million for the first quarter of 2013. Revenue growth rates and the underlying dynamics are key indicators of progress and momentum. Both business segments support overall revenue growth rate of 25%. It’s important to reinforce that learning and talent management, with a 30% growth rate, remains driven largely by core growth. For the year 2013, the company anticipates operating income will be approximately 6% to 10% over full-year 2012, capital expenditures will be between $11 million and $12 million, and effective tax rate will be approximately 42% to 44%. The company affirmed its previous guidance and anticipates consolidated revenues for 2013 to grow 20% to 22% over full-year 2012. The company anticipates revenue growth in the Learning & Talent Management segment to be in the 24% to 26% range and the research segment's revenues to increase approximately 8% to 10%. The company expects that 2013 fully operating income will be approximately 6% to 10% over full-year 2012.

Healthstream Inc., Q1 2013 Earnings Call, Apr 23, 2013