|
BASKING RIDGE, N.J., March 20 -- Hooper Holmes, Inc. (Amex: HH) today announced that its Board of Directors has declared a2-for-1 stock split, to result in the issuance of one additional share of common stock for every share of common stock outstanding.
The stock split, which will increase the total number of fully diluted shares outstanding to approximately 66.0 million, will be effective for holders of record at theclose of business on April 12, 2000 and will be distributed on April 26, 2000.
Jim McNamee, Chairman and Chief Executive Officer, commented, ``Since our last stock split in January 1999, the Company continues to demonstrate strongrevenue, excellent cash flows and earnings growth. This split is a reflection of the strong long-term performance that we anticipate following closure of the PSAacquisition and our recent stock offering. While we are a larger, more profitable entity, we remain optimistic about our growth opportunities in all of our operatingdivisions for fiscal 2000. As with our prior stock splits, we expect this action to further increase the liquidity of our stock and ultimately broaden our shareholderbase.''
Hooper Holmes, Inc. provides medical and other underwriting information on insurance policy applicants to the major companies in the life and health insuranceindustry. The Company provides these health information services through its 300 locations nationwide.
Certain information contained herein includes information that is forward looking. The matters referred to in forward looking statements may be affected by the risksand uncertainties involved in the Company's business. These forward looking statements are qualified in the entirety by cautionary statements contained in theCompany's Securities and Exchange Commission filings.
Contacts:
Fred Lash
Chief Financial Officer
908-766-5000
Ephie Bernstein/Jill Zames
Morgen-Walke Associates
212-850-5600
|