Exhibit 99.1

 

LOGO

 

     FOR IMMEDIATE RELEASE

For: Authentidate Holding Corp.

Berkeley Heights, NJ

September 26, 2013

    

AUTHENTIDATE HOLDING CORP. REPORTS FISCAL 2013 FOURTH QUARTER AND

FULL–YEAR RESULTS

Full-Year Revenues Increase Approximately 51% Year-over-Year, Operating Loss Narrows, Business Conditions Seen as Improving

Authentidate Holding Corp. (Nasdaq: ADAT), a provider of secure web-based software applications and telehealth products and services for healthcare organizations, today announced financial results for the three- and 12-month periods ended June 30, 2013.

Selected highlights for the fiscal year include:

 

    Increased revenues and reduced operating losses for the quarter and fiscal year periods. For the year, revenues increased approximately 51% due to growth from both telehealth products and services and hosted software services.

 

    Strengthened our balance sheet with the conversion of the company’s outstanding shares of Series C convertible redeemable preferred stock to common stock, the cancellation of $6.5 million of senior secured notes in exchange for shares of Series D convertible preferred stock and warrants, and the completion of an underwritten public offering of the company’s common stock and warrants for net proceeds of approximately $3.93 million.

 

    Completed the required test-in phase with the Department of Veterans Affairs (VA) for our Electronic House Call (EHC) and Interactive Voice Response (IVR) telehealth solutions; the VA approved the use of these solutions by VA facilities throughout the country.

 

    Completed the integration between the VA’s VistA Electronic Health Records system and the company’s telehealth solutions; the VA approved the use of the interface in its national telehealth program and also approved a number of new Disease Management Protocols (DMPs) for both telehealth solutions, significantly increasing the available patient population for these solutions.

 

    Announced several new customers for our Inscrybe® Referral Management and Hospital Discharge solutions and a co-marketing agreement with Fastrack™ Healthcare Systems, a Mediware company, for an interface between the referral management solution and the Fastrack Enterprise practice management system.

 

    Introduced a mobile telehealth tablet and a telehealth software application to address the growing need for mobility in the telehealth market, complement current products and services and provide for a broader range of price points and patient segments that can benefit from telehealth.

Following the end of the fiscal year, the company announced that it had started to enroll patients for its sole-source VA telehealth pilot program for Human Immunodeficiency Virus (HIV) patients. We also announced new customers for the telehealth and referral management solutions and the retention of Hayden IR as our new investor relations firm.

Ben Benjamin, Chief Executive Officer of Authentidate, stated, “The significant progress we made with our VA telehealth project during fiscal 2013 helped drive a meaningful increase in our revenues for the second half of the year. We continue to work closely with the VA and believe that the extension of our contract for the second of four option years reflects positive progress with this project. We are also encouraged by the growing number of VA locations using our products and services as well as the sole-source award from the VA for a telehealth pilot program for HIV patients. As we previously reported, the VA estimates that it provided care to more than 25,000 patients with HIV in 2011. Although we cannot predict the number of patients that will be enrolled in the program,

 

- More -


The following information was filed by Authentidate Holding Corp (ADAT) on Thursday, September 26, 2013 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Authentidate Holding Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Authentidate Holding Corp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account