Hooper Holmes Inc. (fka HPHWQ)

[downthehatch]

HPHW Q3 Earnings out:

Rev up 44% compared to 2016 Q3, up 58% from 2017 Q2.

OLATHE, Kan., Nov. 09, 2017 (GLOBE NEWSWIRE) -- 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.