Streamline Health Solutions, Inc. (STRM: Quote) announced that following the release of its third quarter 2012 earnings on December 13, 2012, after having received approval for that press release from its independent auditors, the company has been encouraged by its auditors to take a non-cash adjustment in its tax valuation allowance, as a result of the deferred tax liabilities recorded in conjunction with the Meta Health Technology acquisition, thereby altering its net income and earnings per share performance for the quarter.
The adjustment in the tax valuation allowance also increased the company's year-to-date net income and earnings per share, to $2.3 million and $0.20 respectively.
The company reported that its third-quarter net earnings attributable to common shareholders was $2.26 million or $0.15 per share, compared to net income of $0.03 per share in the same quarter last year.
Net earnings for the quarter were $2.40 million, compared to $296 thousand last year.
Total revenues for the quarter rose to $6.53 million from $4.31 million in the prior year quarter.
by RTT Staff Writer
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