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HC Innovations, Inc.
HC Innovations Reports Fourth Quarter and 2007 Annual Results
Company Increases Revenue by 109% Compared to 2006
Company Anticipates Doubling Revenues in 2008
SHELTON, Conn., April, 2, 2008 (BUSINESS WIRE) -- HC Innovations, Inc. (OTCBB: HCNV), a specialty care management company providing high-touch services to patients with complex medical needs, while producing cost savings for HMOs, nursing homes, and insurance companies, reports financial results for its 2007 fourth quarter and year-end.
Fourth Quarter and Year End Highlights:
--Revenue growth of 156% for the fourth quarter and 109% for the year-end
--Major Contracts signed and executed with HIP, Alere & McKesson
--Rapid patient expansion through contract with HIP to integrate EasyCare and Quality of Life Care programs within their coverage base
--Increased patient-base covered by HealthSpring through acceptance of Easy Care and NP Care programs
-- Expansion into 2 states, increasing total states to 9
Fourth Quarter and Year End Overview:
Total revenues for the fourth quarter ended December 31, 2007, increased 156% to $4.5 million, compared with total revenues of $1.8 million for the comparable quarter in 2006. Net loss for the fourth quarter was $(4.2) million, or $(0.11) per basic and diluted share, on 38.5 million weighted average shares outstanding, compared with a net loss of $(1.3) million, or $(.05) per basic and diluted share, on 30.7 million weighted average shares outstanding, for the comparable quarter last year.
The following information was filed by Hc Innovations, Inc. (HCNVQ) on Thursday, April 3, 2008 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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