A.D.A.M., Inc. Reports Strong Results for Second Quarter 2005.ATLANTA Atlanta (ətlăn`tə, ăt–), city (1990 pop. 394,017), state capital and seat of Fulton co., NW Ga., on the Chattahoochee R. and Peachtree Creek, near the Appalachian foothills; inc. 1847. -- A.D.A.M., Inc. (Nasdaq: ADAM Adam, the first man, in the Bible Adam (ăd`əm), [Heb.,=man], in the Bible, the first man. In the Book of Genesis, God creates humankind in his image as a species of male and female, giving them dominion over other life. ) today announced financial results for its second quarter ended June June: see month. 30, 2005. Revenues for the quarter were $2,489,000, an increase of 29% compared to $1,933,000 in the year-ago period. Net income for the second quarter of 2005 was $647,000, or $0.07 on a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis, compared to net income of $315,000, or $0.04 on a fully diluted basis, in the same period of 2004, an increase of 105%. Net income for the second quarter of 2005 was negatively impacted by a non-cash charge Non-Cash Charge A charge off, made by a company against earnings, that does not require an initial outlay of cash. Notes: Non-cash charges are typically against the depreciation, amortization, and depletion accounts on a company's balance sheet. of $63,000 associated with variably priced stock options. "Second quarter results were the strongest yet, led by momentum in the healthcare market and continued demand for our education products," said Robert S Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. . Cramer Cramer in English, a surname, is commonly pronounced ['kɹeɪ.mə(ɹ)], and is from the German surname Krämer which also means "Kleinhändler"[1] , Jr., A.D.A.M.'s Chairman and chief executive officer. "With success in our key markets and improved operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: , we are confident in our ability to continue to deliver bottom-line bot·tom-line adj. 1. Concerned exclusively with costs and profits: bottom-line issues. 2. Ruthlessly realistic; pragmatic: a bottom-line political strategy. results." "A.D.A.M.'s solid performance in the second quarter reflects our focus on delivering outstanding health information and education solutions to our clients," added Kevin KEVIN Keepers of the Eternal Vigilance of the Islamic Nation (fictional, from White Teeth by Zadie Smith) S. Noland Noland may refer to:
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "We are making excellent progress expanding distribution into new markets with an exciting and highly competitive suite of health, wellness, and interactive decision support tools designed to help consumers better manage their health." First-Half 2005 Results For the six-month period ended June 30, 2005, revenues were $4,827,000, up 31% from $3,684,000 in the year-ago period. Net income for the six-month period ended June 30, 2005 was $1,155,000, or $0.12 on a fully diluted basis, as compared to $540,000, or $0.06 on a fully diluted basis, for the same period of 2004, an increase of 114%. Net income for the first half of 2005 was negatively impacted by non-cash charges of approximately $156,000 relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc variably priced stock options. Second Quarter 2005 Revenue Highlights For the second quarter ended June 30, 2005, revenues from the healthcare market increased $349,000, or 26%, to $1,680,000 compared to $1,331,000 in the year-ago period. Revenues during the second quarter of 2005 from the education market increased $264,000, or 93%, to $548,000 compared to $284,000 in the same period of 2004. The increase in education revenues was primarily attributable to increased sales of A.D.A.M. Interactive Anatomy anatomy (ənăt`əmē), branch of biology concerned with the study of body structure of various organisms, including humans. Comparative anatomy is concerned with the structural differences of plant and animal forms. 4.0, A.D.A.M.'s flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. for education. Balance Sheet Highlights As of June 30, 2005, A.D.A.M.'s cash and investments totaled $9,061,000, an increase of $2,093,000 from December December: see month. 31, 2004. Deferred revenue as of June 30, 2005 was $3,309,000 as compared to $3,109,000 as of June 30, 2004, an increase of approximately 6%. Conference Call Information A.D.A.M. will hold its second quarter earnings conference call today, August 2, 2005, at 10:00 A.M. ET. To participate in the call, please dial (877) 829-1394 approximately five minutes prior to the start time. International callers may dial (706) 679-8134. About A.D.A.M., Inc. For more than a decade, A.D.A.M.'s unique, visually engaging online health content, decision support tools and educational products, have been helping millions of people "get smart" about their health and wellness. With one of the largest consumer-oriented medical information libraries in the world, A.D.A.M. markets its solutions to leading healthcare and pharmaceutical organizations, government, employers, and educational institutions. To learn more about A.D.A.M., visit www.adam.com or call 1-800-408-ADAM. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Except for historical information, all of the statements, expectations and assumptions contained in this press release are forward-looking statements. These statements, especially revenue, net income and cash flow forecasts, involve a number of risks and uncertainties that could cause actual results, performance or developments to differ materially. Factors that could affect the company's actual results, performance or developments include general economic conditions, development of the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the as a source of health information, pricing actions taken by competitors, demand for the company's health information, and regulatory changes in laws and regulations that impact how the company conducts its business. A.D.A.M. disclaims any obligation or duty to update any of its forward-looking statements.
Three Three Six Six
Months Months Months Months
Ended Ended Ended Ended
June 30, June 30, June 30, June 30,
2005 2004 2005 2004
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Revenues, net $2,489 $1,933 $4,827 $3,684
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Operating costs and expenses
Cost of revenues (exclusive of
depreciation shown below) 474 361 972 729
General and administrative 601 400 1,195 747
Product and content development 343 336 662 600
Sales and marketing 453 385 854 797
Depreciation and amortization 37 146 91 297
------------------------------------
Total operating costs and
expenses 1,908 1,628 3,774 3,170
------------------------------------
Operating income 581 305 1,053 514
Interest income, net 66 10 102 26
------------------------------------
Net Income $647 $315 $1,155 $540
====================================
Basic net income per common share $0.08 $0.04 $0.14 $0.07
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Basic weighted average number of
common shares outstanding 8,041 7,914 8,151 7,870
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Diluted net income per common
share $0.07 $0.04 $0.12 $0.06
====================================
Diluted weighted average number of
common shares outstanding 9,377 8,693 9,495 8,635
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Summary Balance Sheet Data
---------------------------------
6/30/2005 12/31/2004
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Cash and short-term investments $8,063 $5,968
Accounts receivable-net 1,219 2,112
Total current assets 9,900 8,624
Long-term investments 998 1,000
Goodwill 2,043 2,043
Total assets 14,375 13,244
Deferred revenue 3,309 3,615
Short term debt 18 17
Total current liabilities 3,893 4,358
Total liabilities 3,921 4,395
Shareholders' equity 10,454 8,849
Working capital 6,007 4,266
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