WebMD Health Corp. Presents at Stifel Internet, Media & Communications Conference, May-20-2013 02:40 PM. Venue: The Pierre Hotel, New York, New York, United States. Speakers: David J. Schlanger, Interim Chief Executive Officer.

The Board of Directors of WebMD Health Corp. has appointed David J. Schlanger to serve as Interim Chief Executive Officer. Cavan M. Redmond, CEO and member of the Board of Directors, will be leaving the Company, effective immediately. The Board is commencing a search for a new CEO. Mr. Schlanger has been with WebMD and its predecessor companies for 18 years, most recently as Senior Vice President, Strategic and Corporate Development. In this role, he was responsible for providing strategic support throughout the organization, including sales, marketing, client relationship management, and product development. Mr. Schlanger and his team have led all aspects of the structuring, negotiating and management of key strategic partnerships with some of WebMD's clients as well as its media, technology and content partners. Additionally, he was the lead executive responsible for the strategy, sourcing, negotiation and diligence on the numerous acquisitions that form the core of WebMD's current business. He has also been responsible for international initiatives, including WebMD's joint venture with Boots in the United Kingdom, which since its creation has grown to be the commercial online health destination in the UK. Anthony Vuolo will be transitioning his responsibilities to Peter Anevski who is assuming the role of Chief Financial Officer. Mr. Anevski has served in senior finance and operations roles during the past 14 years at WebMD and its predecessor companies. He was most recently Senior Vice President, Finance, responsible for all aspects of internal accounting, SEC reporting and compliance, financial planning, merger and acquisition analysis and integration. Mr. Anevski played an integral role in WebMD's recent restructuring as well as developing the changes initiated in early 2012 related to WebMD's pricing structure and market positioning, both of which are driving improved financial results. Anthony Vuolo will continue with the Company as Senior Vice President focusing on strategic projects.

WebMD Health Corp. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue of $112,762,000 against $106,947,000 a year ago. Loss before income tax benefit was $1,312,000 against $11,530,000 a year ago. Net loss was $1,538,000 or $0.03 per basic and diluted share against $7,777,000 or $0.14 per basic and diluted share a year ago. Earnings before interest, taxes, non-cash and other items (Adjusted EBITDA) was $21,289,000 against $11,251,000 a year ago. Net cash provided by operating activities was $11,045,000 against $15,529,000 a year ago. Purchases of property and equipment were $2,876,000 against $3,377,000 a year ago. The company raised financial guidance for the second quarter of 2013 and year ending December 31, 2013 to reflect its improved outlook in its public portal advertising business, particularly as it relates to its pharmaceutical clients. For the second quarter, the company expects revenue to be in excess of $150 million. Adjusted EBITDA is to be in excess of 18% of revenue and net loss to be approximately 1% of revenue. For the year ending December 31, 2013, the company expects revenue to be approximately $450 million to $470 million. Adjusted EBITDA is to be approximately $75 million to $88 million and net loss to be approximately $13.0 million to $1.5 million, or $0.26 to $0.03 per diluted share. Pre-tax loss to be $16.0 million to income of $3.0 million. Capital expenditures for the year to be approximately $25 million. Depreciation and amortization is expected to be $30.0 to $28.0 million for the year.