Healthstream Inc. announced consolidated earnings results for the third quarter and nine months ended September 30, 2009. Revenues for the third quarter of 2009 increased $443,000 or 3% to $14.1 million, compared to $13.7 million for the third quarter of 2008. Net income for the third quarter of 2009 improved to $1.0 million, or $0.05 per diluted share compared to $609,000 or $0.03 per diluted share for the third quarter of 2008. Adjusted EBITDA was $2.5 million for the third quarter of 2009, compared to $1.9 million for the third quarter of 2008. For the quarter, the company also reported operating income of $1.1 million and income before income taxes of $1.1 million compared to operating income of $0.6 million and income before income taxes of $0.6 million for the same period last year. For the first nine months of 2009, revenues were $42.3 million, an increase of 11% over revenues of $38.1 million in the first nine months of 2008. Net income for the first nine months of 2009 improved to $3.6 million or $0.17 per diluted share compared to $1.4 million or $0.06 per diluted share for the first nine months of 2008. This year-to-date improvement is a result of revenue growth, operational efficiencies, the non-occurrence of annual customer Summit during 2009, and expense control trends when compared to the 2008 year-to-date results. Adjusted EBITDA was $8.2 million compared to $5.6 million for the same period last year. For the period, the company also reported operating income of $3.9 million and income before income taxes of $3.8 million compared to operating income of $1.4 million and income before income taxes of $1.4 million for the same period last year. For the year 2009, the company updated its previously issued guidance. The company anticipates that consolidated revenues for the full year 2009 will grow by approximately nine to 10%. Operating income will increase 80% to 90% for the full year of 2009 versus 2008 results. Net income, before the impact of any potential future realized income tax benefit resulting from reduction of deferred income tax valuation allowance in 2009, is expected to grow by 60% to 70% over 2008 net income before $375,000 income tax benefit. Fully diluted earnings per share for 2009, based on the net income, will range between $0.19 and $0.21 per share. Capital expenditures, including hardware, software and capitalized software development for new features, enhancements, and content development will range approximately $2.5 to $3.0 million in 2009.

Healthstream Inc., Q3 2009 Earnings Call, Oct 27 2009

Healthstream Inc. expected to Report Fiscal Year 2009 Results on February 22, 2010. This event was calculated by Capital IQ (Created on October 22, 2009).