Hooper Holmes Announces Third Quarter 2017 Financial Results

By , in PR PR Health on .

OLATHE, Kan., Nov. 09, 2017 — Hooper Holmes, Inc. (OTCQX:HPHW) today announced third quarter 2017 financial results.
“Third quarter revenue represents a 44 percent improvement compared to the third quarter of 2016, reflecting the benefits of our merger with Provant Health Solutions. Year-to-date we have implemented over $7 million in annualized synergy savings from the merger. During the third quarter our year-to-date, annualized new sales increased to $14 million on a run-rate basis, reflecting continued demand for our services,” commented Henry Dubois, Chief Executive Officer of Hooper Holmes.“We are experiencing an exceptionally strong busy season and expect positive adjusted EBITDA of approximately $4 million in the fourth quarter as we recognize merger synergy cost savings. Although our third quarter revenue increased on a year-over-year basis, the recent hurricanes, wildfires and other factors negatively affected our results.  Given this shortfall, we are prudently adjusting our revenue guidance to a range of $51 to $54 million for the last nine months of 2017, reflecting our expectation of between $26 and $29 million in fourth quarter revenue.  We project break-even adjusted EBITDA for the last nine months of 2017, and we continue to project over $5 million in adjusted EBITDA for the full year 2018,” continued Mr. Dubois.Hooper Holmes’ revenues totaled $14 million for the third quarter of 2017, an increase of 58 percent compared to the second quarter of 2017.  Adjusted EBITDA for the third quarter 2017 was a loss of $1.5 million, a sequential improvement of 32 percent compared to a loss of $2.2 million in the second quarter of 2017.Conference CallThe Company will host a conference call today, Thursday, November 9, 2017, at 7:30 a.m. CT (8:30 a.m. ET) to discuss its third quarter 2017 financial results. A slide presentation will accompany the conference call and is available on the Company’s website located at www.hooperholmes.com.To participate in the conference call, please dial 888-394-8218, or internationally 323-701-0225,  conference ID: 7881712, five to ten minutes before the call is scheduled to begin. A live webcast will be hosted on the Company's website located at www.hooperholmes.com. A replay of the conference call will be available through November 16, 2017, by dialing 844-512-2921, or internationally 412-317-6671.  The access code for the replay is 7881712. Company ProfileHooper Holmes, Inc. is a leader in workplace wellness and clinical research support services. The Company mobilizes a national network of health professionals to provide on-site health screenings, laboratory testing, risk assessment and sample collection services to wellness and disease management companies, employers and brokers, government organizations and academic institutions nationwide. Provant, a wholly-owned subsidiary of Hooper Holmes, Inc., is a leader in comprehensive workplace well-being solutions with a growing, global presence. Provant partners with employers and brokers to improve member health and productivity and support healthcare cost management. Provant touches millions of lives by delivering customized well-being strategies and services on-site, telephonically and digitally, utilizing advanced data management technology.For further information:Hooper Holmes
Henry E. Dubois
(913) 764-1045
Investors: Andrew Berger
S.M. Berger & Company
(216) 464-6400
Investors: Scott Gordon
(516) 222-2560
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may generally be identified by the use of words such as “anticipate,” “believe,” “expect,” “intends,” “plan,” and “will” or, in each case, their negative, and other variations or comparable terminology.  These forward-looking statements include all statements other than historical facts.   Any forward-looking statement made in this press release is not a guarantee of future performance, and actual results may differ materially from those expressed in or suggested by the forward-looking statements, as a result of various factors, including, without limitation the factors discussed in the “Risk Factors” section of the company’s Annual Report on Form 10-K for the year ended December 31, 2016, as the same may be updated from time-to-time in subsequent filings with the Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date hereof, and the Company has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws. In addition, this press release uses the non-GAAP performance measure Adjusted EBITDA.  You can find a reconciliation of such measures to their nearest GAAP equivalent in the Company’s earnings release, which is available on our website. 

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Brad Bennett

Brad Bennett

Brad grew up in a small town in northern Iowa. He studied chemistry in college, graduated, and married his wife one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children.
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