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FOR RELEASE: Monday, September 29, 2014
Berkeley Heights, NJ
September 29, 2014
AUTHENTIDATE HOLDING CORP. REPORTS FISCAL 2014 FOURTH QUARTER AND FULL YEAR RESULTS
Healthcare Reform and Increasing Demand for Information Technology Solutions Driving Addressable Market Expansion, Pipeline Growth
Full-Year Operating and Net Losses Narrow, Demonstrating Operating Leverage
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-month and 12-month periods ended June 30, 2014.
Business Highlights for the Fourth Quarter and Fiscal Year include:
|||Awarded U.S. General Services Administration (GSA) Information Technology Equipment Schedule 70 Contract for Inscrybe® Hospital Discharge and Referral and Order Management products which significantly increases the addressable market for Authentidates solutions.|
|||Awarded contracts for Telehealth and Hospital Discharge solutions by Yankee Alliance, a leading healthcare group purchasing organization, expanding the opportunities for marketing solutions to Alliance members.|
|||Extended Department of Veterans Affairs (VA) Telehealth Contract for delivery of Home Telehealth Devices and Services.|
|||Increased revenues approximately 15% for the year and improved operating margins and reduced operating and net losses for the year.|
|||Rated One of the Top 10 Telehealth Vendors Worldwide in IHS World Market for Telehealth 2014 Edition study.|
|||Added a number of new commercial market customers during the year for Authentidates Telehealth and Referral and Order Management products and services.|
Following the end of the quarter, the company announced the completion of a registered direct offering of the companys common stock and warrants for net proceeds of approximately $2.13 million.
The following information was filed by Authentidate Holding Corp (ADAT) on Monday, September 29, 2014 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.
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