Business
HealthStream Announces Fourth Quarter & Full-year 2020 Results
NASHVILLE, Tenn.--(BUSINESS WIRE)-- HealthStream, Inc. (Nasdaq: HSTM), a leading provider of workforce and provider solutions for the healthcare industry,
About this update from Healthstream, Inc.
[{"type":"text","content":" NASHVILLE, Tenn.--(BUSINESS WIRE)--\nHealthStream, Inc. (Nasdaq: HSTM), a leading provider of workforce and provider solutions for the healthcare industry, announced today results for the fourth quarter and full year ended December 31, 2020. In this earnings release, results are presented for continuing operations only, unless otherwise indicated, as our results for the fourth quarter and full-year 2019 reflect a gain on the sale of our previously divested Patient Experience (PX) business included in discontinued operations.\n\nFourth Quarter 2020\n\n\nRevenues of $61.8 million, down 1% from $62.7 million in the fourth quarter of 2019\n\n\nOperating income of $1.1 million, down 66% from $3.3 million in the fourth quarter of 2019, which comparison was negatively impacted in the amount of $3.0 million by operating losses associated with the four companies we acquired during 2020 (driven in part by deferred revenue write-downs), along with diligence and other professional expenses associated with such acquisitions\n\n\nIncome from continuing operations of $0.9 million, down 74% from $3.6 million in the fourth quarter of 2019, which comparison was negatively impacted in the amount of $2.3 million associated with the factors noted above under operating income\n\n\nEarnings per share (EPS) from continuing operations of $0.03 per share (diluted), compared to $0.11 per share (diluted) in the fourth quarter of 2019, which was negatively impacted in the amount of $0.07 associated with the factors noted above under operating income\n\n\nAdjusted EBITDA1 from continuing operations of $10.7 million, down 4% from $11.2 million in the fourth quarter of 2019\n\n\nCompleted the acquisition of ShiftWizard, Inc., a Raleigh, North Carolina-based company focused on providing a SaaS-based scheduling solution, on October 12, 2020 for approximately $32.0 million\n\n\nCompleted the acquisition of Change Healthcare’s staff scheduling business, which includes their ANSOSTM Staff Scheduling application and related products, on December 2, 2020 for approximately $67.5 million\n\n\nCompleted the acquisition of myClinicalExchange LLC, a Denver-based information technologies company, on December 10, 2020 for approximately $4.5 million\n\n\nFull-Year 2020\n\n\nRevenues of $244.8 million, down 4% from $254.1 million in 2019\n\n\nOperating income of $15.8 millio...