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Adam Inc (863650) SEC Filing 10-Q Quarterly report for the period ending Wednesday, March 31, 2010

Adam Inc

CIK: 863650

Exhibit 99.1

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Media Contact:

Erica Ryan

Senior Marketing Communications Manager

A.D.A.M., Inc.

404-604-2757

pr@adamcorp.com

Investor Relations Contact:

Lippert/Heilshorn & Associates

Amy Gibbons

(212) 838-3777

investorrelations@adamcorp.com

A.D.A.M., Inc. Announces First Quarter 2010 Financial Results

- License Revenues Increase 5%-

- Adjusted Operating Income Margin of 18%-

ATLANTA - May 11, 2010 - A.D.A.M., Inc. (Nasdaq: ADAM), a leading provider of health information and benefit technology solutions, today announced its financial results for the first quarter ended March 31, 2010.

Highlights

 

   

License revenues for the first quarter of 2010 were $6.5 million, up 5% over the first quarter of 2009.

 

   

Adjusted operating income margin for the first quarter of 2010 was 18% of revenues.

 

   

Adjusted net income was a $1.2 million profit for the first quarter of 2010, GAAP net income was $1.0 million.

 

   

Adjusted EBITDA was $1.8 million for the first quarter of 2010, up 2% from the first quarter of 2009.

“Our first quarter results demonstrate the cash-generating strengths of our SaaS business model. First quarter license revenues grew 5%, driven by an 11% increase in Health Solutions license revenue, and we continued to deliver an Adjusted operating margin within our target range,” said Mark Adams, president and chief executive officer of A.D.A.M., Inc.

“During the quarter we made considerable progress toward our goal of positioning the company for higher revenue growth in 2011,” added Adams. “First, we established Health Solutions and Broker/Employer Services into separate business units. With dedicated customer service, marketing, and product strategy functions, we are now sharpening our operational execution in each unit to optimize the customer experience. Second, we executed on our product enhancement strategy, making available a beta offering of additional enrollment tools and preparing to introduce the Benergy Help Line, which extends the Benergy Communications Platform. And third, we built out our customer relations team, establishing a customer service framework and making several key hires.”

Adams concluded, “Throughout 2010, we will remain focused on making further operational improvements and enhancements in account management, marketing, client service delivery and product development across the organization. These initiatives will have a meaningful impact on the value we provide to our customers and helping them to achieve their business objectives.”


The following information was filed by Adam Inc on Tuesday, May 11, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
CIK: 863650
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-10-118768
Submitted to the SEC: Thu May 13 2010 2:17:59 PM EST
Accepted by the SEC: Thu May 13 2010
Period: Wednesday, March 31, 2010
Industry: Prepackaged Software

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