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   Biotech / MedicalHealthStream (HSTM)


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From: JakeStraw7/18/2007 10:04:54 AM
   of 21
 
HealthStream to Deliver Learning Solutions to Montefiore Medical Center
biz.yahoo.com
Wednesday July 18, 9:25 am ET

NASHVILLE, Tenn.--(BUSINESS WIRE)--HealthStream, Inc. (NASDAQ: HSTM), a leading provider of learning and research solutions for the healthcare industry, today announced that Montefiore Medical Center, the University Hospital & Academic Medical Center for the Albert Einstein College of Medicine, has signed a five-year agreement for use of HealthStream's learning management system (LMS), the HealthStream Learning Center(TM) for their 12,000+ employees. HealthStream's Authoring Center(TM) will also be provided, empowering Montefiore healthcare managers to author online courses.

According to their new agreement, the HealthStream Learning Center(TM) will be used by Montefiore's employees to meet regulatory training requirements as mandated by the Occupational Safety & Health Administration (OSHA) and The Joint Commission. With the convenience and accessibility of online learning, HealthStream's regulatory courses cover a wide range of topics, including Pain Management, An Overview of HIV, and Identifying and Assessing Possible Victims of Abuse or Neglec

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From: JakeStraw7/25/2007 9:54:24 AM
   of 21
 
HealthStream Announces Second Quarter 2007 Results
biz.yahoo.com
Tuesday July 24, 4:30 pm ET

NASHVILLE, Tenn.--(BUSINESS WIRE)--HealthStream, Inc. (NASDAQ: HSTM):

Highlights:

* Revenues of $12.0 million in the second quarter of 2007, up 47% over the second quarter of 2006, including $3.7 million resulting from the acquisition of The Jackson Organization on March 12, 2007
* Net income of $425,000, or $0.02 per diluted share, in the second quarter of 2007, up from $289,000, or $0.01 per diluted share, in the second quarter of 2006
* Adjusted EBITDA of $1.9 million in the second quarter of 2007, compared to $1.0 million in the second quarter of 2006
* 1,422,000 healthcare professional subscribers fully implemented on our Internet-based learning network at June 30, 2007, up from 1,309,000 at June 30, 2006
* Approximately 85 percent of our subscriber base has transitioned to the Next Generation HealthStream Learning Center®, as of July 18, 2007
* Increased availability under line of credit to $15.0 million

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From: JakeStraw10/25/2007 2:16:47 PM
   of 21
 
HealthStream Announces Third Quarter 2007 Results
biz.yahoo.com
Tuesday October 23, 4:30 pm ET

NASHVILLE, Tenn.--(BUSINESS WIRE)--HealthStream, Inc. (NASDAQ: HSTM):

Highlights:

* Revenues of $11.8 million in the third quarter of 2007, up 58% over the third quarter of 2006, including $3.0 million resulting from the acquisition of The Jackson Organization on March 12, 2007
* Net income of $739,000, or $0.03 per diluted share, in the third quarter of 2007, up from $474,000, or $0.02 per diluted share, in the third quarter of 2006
* Adjusted EBITDA of $2.1 million in the third quarter of 2007, compared to $1.2 million in the third quarter of 2006
* 1,457,000 healthcare professional subscribers fully implemented on our Internet-based learning network at September 30, 2007, up from 1,334,000 at September 30, 2006
* 101,000 new healthcare professional subscribers contracted to use the HealthStream Learning Center® (HLC) during the third quarter of 2007
* Approximately 95 percent of our subscriber base has transitioned to our Next Generation HLC

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From: JakeStraw2/20/2008 7:41:34 AM
   of 21
 
HealthStream Announces Fourth Quarter & Full Year 2007 Results
biz.yahoo.com
Tuesday February 19, 5:31 pm ET

Highlights:
Fourth Quarter
-- Revenues of $12.0 million in the fourth quarter of 2007, up 40% over the fourth quarter of 2006, including $2.5 million resulting from the acquisition of The Jackson Organization on March 12, 2007
-- Net income for the fourth quarter of 2007 of $2.9 million, or $0.13 per diluted share (including the effect of an income tax benefit of $2.0 million, or $0.09 per diluted share), compared to $1.1 million, or $0.05 per diluted share, for the fourth quarter of 2006
-- Adjusted EBITDA of $2.2 million in the fourth quarter of 2007, compared to $1.9 million in the fourth quarter of 2006
Full Year
-- Revenues for the year of $43.9 million, up 38% over 2006, including $9.7 million resulting from the acquisition of The Jackson Organization
-- Net income of $4.1 million for 2007, or $0.18 per diluted share (including the effect of an income tax benefit of $2.0 million, or $0.09 per diluted share), compared to $2.5 million, or $0.11 per diluted share, for 2006
-- Adjusted EBITDA of $7.2 million, compared to $5.5 million for 2006
-- 1,541,000 healthcare professional subscribers fully implemented on our Internet-based learning network at December 31, 2007, up from 1,352,000 at December 31, 2006
-- As of February 11, 2008, all of our subscriber base has been transitioned to our Next Generation HLC

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From: JakeStraw2/20/2008 2:07:37 PM
   of 21
 
HealthStream, Inc. Q4 2007 Earnings Call Transcript
seekingalpha.com

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From: JakeStraw4/23/2008 8:07:23 AM
   of 21
 
HealthStream Announces First Quarter 2008 Results
biz.yahoo.com
Tuesday April 22, 4:30 pm ET

NASHVILLE, Tenn.--(BUSINESS WIRE)--HealthStream, Inc. (NASDAQ: HSTM), a leading provider of learning and research solutions for the healthcare industry, announced today results for the first quarter ended March 31, 2008.

Highlights:

* Revenues of $11.4 million in the first quarter of 2008, up 41% over the first quarter of 2007
* Net income of $66,000 in the first quarter of 2008, up from $45,000 in the first quarter of 2007
* Adjusted EBITDA of $1.4 million in the first quarter of 2008, up from $0.9 million in the first quarter of 2007
* 1,594,000 healthcare professional subscribers fully implemented on our Internet-based learning network at March 31, 2008, up from 1,379,000 at March 31, 2007
* Gerard M. Hayden, Jr. joins the Company as senior vice president and chief financial officer
* Jeffrey S. Doster joins the Company as senior vice president and chief technology officer

Financial Results:

First Quarter 2008 Compared to First Quarter 2007

Revenues for the first quarter of 2008 increased $3.3 million, or 41 percent, to $11.4 million, compared to $8.1 million for the first quarter of 2007. The Company’s revenue mix during the first quarter of 2008 was comprised of 66 percent of revenues from HealthStream Learning and 34 percent from HealthStream Research. This compares to 80 percent from HealthStream Learning and 20 percent from HealthStream Research during the first quarter of 2007. This revenue mix change is primarily a result of the acquisition of The Jackson Organization Research Consultants, Inc. (TJO) during March 2007, whose revenues are included in HealthStream Research.

Revenues from HealthStream Learning increased by $1.0 million when compared to the first quarter of 2007. Of this increase, $1.5 million was derived from our Internet-based subscription learning products, which includes revenue increases from the HealthStream Learning Center® (HLC) of $900,000 and from courseware subscriptions and online training services of $616,000. Revenues from these products increased 30 percent over the prior year quarter and approximated $6.6 million for the first quarter of 2008. Revenues associated with implementation, development, and consulting services increased $302,000 over the prior year quarter. Our increase in revenues was partially offset by a decrease in revenues from our live event business, including association activities, which declined $663,000 from the prior year quarter, primarily due to fewer live events and association activities during the first quarter of 2008 than in the first quarter of 2007.

Revenues from HealthStream Research increased $2.3 million when compared to the first quarter of 2007, primarily resulting from the impact of the March 2007 acquisition of TJO. Revenue increases over the prior year quarter included $1.7 million from patient surveys, $525,000 from employee surveys, and $94,000 from physician surveys. TJO revenues during the first quarter of 2007, prior to our acquisition and not included in our results for the first quarter of 2007, approximated $2.6 million.

Gross margin, which we define as revenues less cost of revenues (excluding depreciation and amortization) divided by revenues, declined to 60 percent for the first quarter of 2008 from 64 percent for the first quarter of 2007. The decline in gross margin resulted from changes in revenue mix and related cost of revenues. In HealthStream Research, we experienced lower gross margins related to increased revenues from patient surveys, which have lower margins than physician and employee surveys. In HealthStream Learning, gross margins were up slightly compared to the prior year quarter due to the increase in HLC revenues, but were somewhat offset by increased royalties paid by us associated with increased revenues from a portion of our courseware subscription products.

Other operating expenses, including product development, sales and marketing, depreciation and amortization, and other general and administrative expenses also increased over the prior year quarter. These expense increases resulted primarily from the impact of TJO personnel and operating expenses, as well as the addition of sales personnel for both HealthStream Learning and HealthStream Research. Depreciation and amortization increases were associated with capital expenditures, software enhancements, and intangible assets. Other income and expense decreased $118,000 when compared to the prior year quarter due to lower cash and investments balances.

Net income for the first quarter of 2008 was $66,000, or $0.00 per share (diluted), up slightly from $45,000, or $0.00 per share (diluted), for the first quarter of 2007.

Adjusted EBITDA (which we define as net income before interest, income taxes, share-based compensation, and depreciation and amortization) was $1.4 million for the first quarter of 2008, compared to $912,000 for the first quarter of 2007. This improvement is consistent with the factors mentioned above. Our reconciliation of this calculation to measures under generally accepted accounting principles is attached in the Summary Financial Data.

Other Financial Indicators

At March 31, 2008, the Company had cash and related interest receivable of $4.8 million, compared to $3.6 million at December 31, 2007. The increase in cash resulted from improved receipts from customers, including a reduction of accounts receivable balances by $1.5 million, but was partially offset by payments to vendors during the quarter. Capital expenditures and capitalized feature enhancement development totaled approximately $0.4 million for the first quarter of 2008.

Our days sales outstanding (DSO), which we calculate by dividing the accounts receivable balance, excluding unbilled and other receivables, by average daily revenues for the quarter) approximated 57 days for the first quarter of 2008 compared to 75 days for the first quarter of 2007. Excluding the impact of accounts receivable balances acquired with the TJO acquisition during March 2007, DSO for the first quarter of 2007 approximated 60 days. The improvement over the prior year quarter, excluding the impact of TJO, is associated with improved collections from customers during the quarter.

HealthStream Research Update

We support healthcare organizations with research solutions that provide valuable insight about patients’ experiences, workforce engagement, physician relations, and community perceptions of hospital services. This insight, in turn, provides data-driven roadmaps for organizational and workforce development—which can be achieved through HealthStream's learning solutions. Our primary research solutions include physician, employee, patient, and community surveys that deliver insight, analyses, and industry benchmarks to healthcare organizations.

During the first quarter of 2008, HealthStream Research added several new healthcare organization customers, including Tenet Healthcare Corporation, Conemaugh Health System, and Kessler Memorial Hospital. Among our existing research customers, 36 renewed their contracts for multiple survey products, while 48 chose to contract for more research services in the first quarter to add to their current services received from HealthStream Research.

HealthStream Learning Update

HealthStream supports healthcare organizations in delivering quality patient care, creating safer hospitals, meeting regulatory training requirements, and developing professional skills through our innovative learning solutions. To this end, we provide a range of learning solutions that include: the HLC—our Internet-based learning platform, a wide range of professional, clinical, and regulatory content subscriptions, an online authoring/self-publishing tool, and learning activities for healthcare professionals sponsored by pharmaceutical and medical device companies.

At March 31, 2008, approximately 1,594,000 healthcare professionals were fully implemented to use our Internet-based HLC for training and education. Revenue recognition commences when a contract is fully implemented. This number is up from approximately 1,541,000 at December 31, 2007. The total number of contracted subscribers at March 31, 2008 was approximately 1,728,000, up from 1,497,000 at March 31, 2007. “Contracted subscribers” include both those already implemented (1,594,000) and those in the process of implementation (134,000).

Customers representing approximately 93 percent of subscribers that were up for renewal did renew in the first quarter of 2008, while our renewal rate based on the annual contract value was approximately 99 percent. Our renewal rates reflect increased pricing at renewal, as well as the addition of subscribers compared to previously contracted amounts. The renewal rates for the first quarter of 2008 compare to a subscriber renewal rate of 95 percent and an annual contract value renewal rate of 102 percent during the first quarter of 2007.

Executive Personnel Announcements

We are pleased to announce the addition of two new members to HealthStream’s executive team. Gerard (“Gerry”) M. Hayden, Jr. will join us as senior vice president and chief financial officer (CFO) and Jeffrey S. Doster will join us as senior vice president and chief technology officer (CTO), both effective in mid-May 2008.

Mr. Hayden has been a director of the Company since 2006 and has most recently served as chief financial officer for MedAvant Healthcare Solutions. As an experienced leader in healthcare technology companies, he brings broad industry experience in finance, mergers and acquisitions, and accounting to HealthStream’s executive team. Mr. Hayden’s prior experience includes serving as chief financial officer for such companies as Private Business, Inc., Covation, Meridian Occupational Healthcare Associates, Inc., ENVOY (now part of WebMD), and Allied Clinical Laboratories, Inc. In his new role at HealthStream, Mr. Hayden will assume leadership for all accounting and financial operations.

Upon his acceptance of the role of HealthStream’s CFO, Mr. Hayden resigned from the Company’s board of directors where he served on the audit committee. Michael D. Shmerling—who joined the board in 2005—will join the audit committee.

Mr. Doster has held several senior information technology (IT) positions, including senior vice president and chief technology officer at The Shop at Home Network, LLC and senior vice president of IT at New Roads, Inc. With over 20 years of experience in IT across several companies, he has demonstrated outstanding executive leadership in developing enterprise-level systems infrastructures, highly effective data warehouse management systems, and innovative Internet commerce systems. At HealthStream,

Mr. Doster will be responsible for leading all aspects of the Company’s technology development, including our strategy for technology platforms, product development, and partnerships.

Financial Expectations

Revenues for the second quarter of 2008 are expected to range between $12.8 and $13.0 million, an increase of approximately $0.8 to $1.0 million, or seven to nine percent, over the same quarter in the prior year. We expect revenues from HealthStream Learning to increase between 18 and 20 percent over the second quarter of the prior year resulting from continued growth in our HLC subscriber base and courseware subscriptions, which we anticipate will be partially offset by continued declines in several of our project-based products. We expect revenues from HealthStream Research to decrease between eight and 10 percent, compared to the second quarter of 2007. We expect this revenue decrease will result from fewer physician and employee survey projects being completed during the second quarter of 2008 as compared to the same quarter in the prior year. Revenues from patient surveys, which comprise approximately 50 percent of the total HealthStream Research business, are expected to increase during the second quarter of 2008 compared to same quarter in the prior year.

We anticipate gross margins for the second quarter of 2008 to be comparable to the same quarter in the prior year and improve compared to the first quarter of 2008. Product development expenses are expected to increase in amount and as a percentage of revenue compared to both the first quarter of 2008 and the prior year second quarter. Sales and marketing expenses are also expected to increase in amount, but are expected to be comparable as a percentage of revenues compared to both the first quarter of 2008 and the prior year second quarter. Depreciation and amortization are expected to increase in amount and as a percentage of revenues compared to the prior year second quarter. General and administrative expenses are expected to increase in amount and as a percentage of revenues compared to both the first quarter of 2008 and the prior year second quarter. We expect net income for the second quarter of 2008 to range between $0.02 and $0.03 per diluted share.

We are maintaining our full year 2008 revenue growth expectation of between 22 and 24 percent over 2007. Revenues are expected to increase in each remaining quarter of 2008 over the same quarter from the prior year. Revenues from HealthStream Learning are expected to increase for the full year 2008 over the full year 2007. Revenues from HealthStream Research are expected to increase for the full year 2008 over the full year 2007 both on an as reported basis and a pro forma basis (as if TJO were included in our operating results as of January 1, 2007.). We are also maintaining our expectation of net income per diluted share for the full year of 2008 to be in the range between $0.12 and $0.15. Our estimates for the second quarter and full year of 2008 do not reflect an income tax benefit associated with the realization of additional deferred tax assets. We will continue to evaluate the need for a valuation allowance on our remaining deferred tax assets based on whether they will more likely than not be realized in the future.

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From: JakeStraw7/23/2008 3:02:34 PM
   of 21
 
HealthStream, Q2 2008 Earnings Call Transcript
seekingalpha.com

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From: JakeStraw9/25/2008 10:40:37 AM
   of 21
 
HealthStream Launches HCAHPS Preparation & Improvement Library
biz.yahoo.com
Thursday September 25, 10:08 am ET

Public Reporting of Patients' Perceptions of Care Drives Need for Hospital Staff Training on Patient Survey; Reporting of Survey Results Tied to Full CMS Reimbursement

NASHVILLE, Tenn.--(BUSINESS WIRE)--HealthStream, Inc. (NASDAQ:HSTM), a leading provider of research and learning solutions for the healthcare industry, today announced the launch of its HCAHPS Preparation and Improvement Library courseware. This online courseware focuses hospital staff at all levels and functions on behaviors that improve patients’ experiences of their stay in the hospital. As the title suggests, this course correlates directly to the Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS, pronounced “H-caps”), which is a patient survey that the Centers for Medicare and Medicaid (CMS) require that hospitals institute. Each hospital’s survey results are reported to CMS and posted on the public site, hospitalcompare.hhs.gov , as a condition for full Medicare reimbursement updates from CMS.

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From: JakeStraw10/21/2008 9:38:28 AM
   of 21
 
HealthStream and Essential Learning Partner to Deliver Behavioral Health Courseware Library
biz.yahoo.com
Tuesday October 21, 9:25 am ET

NASHVILLE, Tenn.--(BUSINESS WIRE)--HealthStream, Inc. (NASDAQ: HSTM), a leading provider of healthcare research and learning solutions, today announced that it has partnered with Essential Learning, the largest provider of e-learning services in the behavioral health and human services industry, to offer Essential Learning’s online behavioral health library to its customers. The courseware will be available for purchase by healthcare organizations, whose employees train on the HealthStream Learning Center® (HLC), HealthStream’s learning platform.

Developed by industry-leading subject matter experts, the behavioral health library from Essential Learning is a collection of over 40 online courses designed to train employees on the most current regulations and standards of practice. The interactive courses accommodate various learning styles and contain pre- and post-tests to measure comprehension. This library is designed to help behavioral health organizations reduce risks, increase employee competency, and remain compliant.

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From: JakeStraw7/28/2009 9:25:20 AM
   of 21
 
HealthStream boosts earnings, 2009 outlook
nashville.bizjournals.com

...projects overall revenue will grow by 10 to 12 percent in 2009, and that earnings per share for 2009 will range between $0.16 and $0.19 per share.

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