Access Health Reports Record Revenues, Earnings for Third Quarter; Revenues increase 95 percent over prior year quarter, earnings up 240 percent.RANCHO CORDOVA Rancho Cordova (răn`chō kôrdō`və), uninc. residential city (1990 pop. 48,731), Sacramento co., N Calif. A suburb of Sacramento, it experienced rapid growth in the late 20th cent. , Calif.--(BUSINESS WIRE)--July, 18, 1996--Access Health, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ACCS ACCS Air Command and Control System (NATO) ACCS Advanced Cisco Campus Switching ACCS Association of Copyright for Computer Software ACCS Air Command & Control System ACCS Airborne Command & Control Squadron ) reported net income of $2.4 million or 17 cents a share on revenue of $17 million for its third fiscal quarter ended June 30, 1996, compared to net income of $604,000 or 5 cents a share on revenue of $8.7 million for the same period a year ago. Per share amounts have been adjusted to reflect the company's 3 for 2 stock split effective February 29th. Revenues from the company's personal health management business increased 155 percent from the prior year period and represented 86 percent of total revenues in the current quarter. During the third quarter, average enrollment in Personal Health Advisor increased to 10.2 million, compared to average enrollment of 7.4 million during the second quarter of fiscal 1996. The company exited the quarter with 10.3 million members enrolled. Personal Health Advisor is a membership service that provides members with access to a broad range of healthcare information and services, including access to registered nurse counselors, health educators, physician referral physician referral A physician's recommendation to a Pt to consult another physician for a 2nd opinion. Cf Self-referral. specialists, pre-recorded health information topics through Personal Health Advisor's AudioHealth Library, and printed health-related literature. Members have access to the service 24 hours a day, seven days a week over the telephone from any location in the world, providing them with immediate information whether they are at home, at the office or traveling. Kenneth B. Plumlee, chairman and chief executive officer of Access Health, Inc., said the company's strong financial performance and enrollment gains reflect the growing interest among health plans, consumers and other healthcare purchasers for personal health management services. "We are committed to maintaining our leadership position, and we are excited about the opportunities we have for bringing innovative value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. to our members," said Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs E. Gardner, who joined the company during the quarter as president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "Our strategy will continue to focus on increasing membership across all segments of our business as well as expanding revenues per member through a variety of new products and services under development," he continued. During the third quarter, the company reached agreements to provide Personal Health Advisor to Blue Cross and Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. of Connecticut Connecticut, state, United States Connecticut (kənĕt`ĭkət), southernmost of the New England states of the NE United States. It is bordered by Massachusetts (N), Rhode Island (E), Long Island Sound (S), and New York (W). ; Physicians Health Services health services Managed care The benefits covered under a health contract of Connecticut; TRICARE Europe; Health Partners of Alabama Alabama, indigenous people of North America Alabama (ăləbăm`ə), indigenous people of North America whose language belongs to the Muskogean branch of the Hokan-Siouan linguistic stock (see Native American languages). , Inc.; American Health American Health Inc. is a company that manufactures health supplements. It is located in Holbrook, New York. One of its products is labeled the "Chewable Original Papaya Enzyme" with the attached registered trademark, "The 'After Meal Supplement'". Holding, Inc.; Preferred Providers Organization of Michigan Michigan (mĭsh`ĭgən), upper midwestern state of the United States. It consists of two peninsulas thrusting into the Great Lakes and has borders with Ohio and Indiana (S), Wisconsin (W), and the Canadian province of Ontario (N,E). ; Alliance Blue Cross Blue Shield of Missouri and Blue Cross Blue Shield of Wyoming. Access Health, Inc. is a leading provider of personal health management membership services, which are designed to provide consumers with a broad range of personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. health information and services. The company's products and services include health information, prevention, and care management programs available over the telephone, through the Internet and on cable television through its investment in America's Health Network. The company's products are sponsored by health plans, self-insured employers, hospitals and health systems, and directly by consumers. Access Health is headquartered at 11020 White Rock Road, Rancho Cordova, Calif., 95670. The phone number is 916/851-4000, the fax number is 916/852-3890 and the World Wide Web address is http://www.access-health.com. Except for historical information, the matters discussed in this press release may contain forward looking statements that involve risks and uncertainties. -0-
Access Health, Inc.
Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
(Unaudited)
Three Months Ended Nine Months Ended
June 30, June 30,
------------------ ----------------
1995 1996 1995 1996
--------- -------- ------- --------
Revenues:
Personal health management
services................. $ 5,765 $14,722 $12,358 $36,456
Health systems services... 2,961 2,315 8,596 7,641
------ ------ ------- -------
Total revenues............ 8,726 17,037 20,954 44,097
Costs and expenses: Cost of revenues: Personal health management services................. 3,661 7,436 9,025 18,807 Health systems services... 1,850 1,677 5,417 5,400
Product and other
development.............. 461 1,076 1,259 2,368
Sales and marketing........ 1,022 1,636 2,580 4,668
General and administrative. 886 1,677 2,340 4,563
----- ------ ------ ------
Total costs and expenses... 7,880 13,502 20,621 35,806
Income from operations...... 846 3,535 333 8,291
Other income................ 160 396 428 1,062
------ ------ ------ ------
Income before income taxes. 1,006 3,931 761 9,353
Provision for income taxes.. 402 1,572 309 3,741
------ ------ ------ ------
Net income.................. $ 604 $ 2,359 $ 452 $ 5,612
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Net income per share........ $ 0.05 $ 0.17 $ 0.04 $ 0.43
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Shares used in per
share calculations........ 11,204 13,796 11,148 13,144
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CONTACT: Access Health Matt Plavan, (Investor Relations Investor relations The process by which the corporation communicates with its investors. ) or Jan Emerson, (Media Relations), 916/851-4000 |
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