|
BASKING RIDGE, N.J., March 2,1999 -- Hooper Holmes, Inc. (Amex: HH) is the nation's leading provide
of alternate-site health information. Serving all 50 states through a network of nearly 200 offices and thousands of medical professions, the company conducts physical examination, testing and personal health interviews, primarily for the life and health industry. The Company recently reported it's fourth quarter and year end results. Revenues for the fourth quarter increased to $42.5 million compared to $39.9 million in the same period last year while net income increased 91% to $2.9 million over the $1.5 million reported a year age. Earnings per share rose 81% to $0.20 for the fourth quarter. For the year ended December 31, 1997, revenues grew to $165.4 million compared to $156.3 million reported in the prior year. Net income more than doubled to $8.8 million. Split adjusted earnings per share doubled to $0.61 from $0.30 reported in 1996. The Company accomplished their outstanding results through a three point improvement in gross margin and holding SG&A costs at essentially the same level as 1996. Additionally, strong cash flow has enabled Hooper Holmes to pay off virtually all of its long-term debt and continues to dramatically strengthen the Company's solid balance sheet. Earlier in 1997, Hooper entered into a strategic marketing agreement with Policy Management Systems Corporation [NYSE:PMS], through its PMSI subsidiary, which has given access to new customers as well as the opportunity to take advantage of our expanded geographic presence. It was also recently announced that Ohio National Financial Services selected Portamedic as their exclusive alternate- site information provider to support their life and health insurance online marketing program. Growth of the non-traditional markets are an exciting new horizon for Hooper Holmes. As we enter 1998, we expect to build on the momentum generated in 1997 and capitalize on the growing opportunities in the life and health insurance industry. In addition, we plan to take initiatives that will grow and diversify our client base and strategically increase our position in the alternate site health care information services market. For more information on Hooper Holmes, Inc. please visit our home page at http://www.hooperholmes.com.
|