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Adam Inc (863650) SEC Filing 10-Q Quarterly report for the period ending Thursday, September 30, 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 Contact:

   Jody Burfening
   Lippert/Heilshorn & Associates
   (212) 838-3777
   investorrelations@adamcorp.com

                           A.D.A.M. Announces Third Quarter 2010 Financial Results

                               - Third Quarter Adjusted Operating Income Margin of 25% -

ATLANTA—November 9, 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 third quarter ended September 30, 2010.

“Third quarter revenues for our Health Solutions business continued to grow with a 4% sequential quarterly revenue growth,” said Mark Adams, president and chief executive officer of A.D.A.M. “The Benergy Interworks business unit showed a third quarter sequential increase for the first time in nine quarters, which attests to our success in improving our operational performance and the benefits of our investments in account management, marketing and product development. Since the beginning of the year, we have upgraded client-facing areas, expanded marketing activities and broadened our product offerings, taking a multi-faceted approach to positioning Benergy Interworks for future revenue growth. This sharpened operational focus, combined with third quarter bookings, leads us to expect sequential growth again in the fourth quarter. Of note, third quarter Benergy Interworks revenues included sales of new products launched during the second and third quarter.”

Added Adams, “Along with our operational improvements, we have streamlined our internal expense structure over the last several quarters. As a result, in the third quarter profitability improved and our adjusted operating income increased to 25% of revenues. Our cashflow, as measured by EBITDA, was $2.3 million or 33% of revenues. At September 30, our cash and cash equivalents were $5.7 million, while our debt was $3.5 million.”

“On August 30th we announced our agreement to merge with Ebix. Because of our strong results and future outlook, we do not expect there to be a purchase price adjustment as defined in the merger agreement. Our current cash on hand and expected earnings before closing should cover items required to be paid off per that agreement,” concluded Adams.


The following information was filed by Adam Inc on Tuesday, November 9, 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: 0001193125-10-255816
Submitted to the SEC: Wed Nov 10 2010 2:55:47 PM EST
Accepted by the SEC: Wed Nov 10 2010
Period: Thursday, September 30, 2010
Industry: Prepackaged Software

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