Hooper Holmes (HH) reported its first-quarter net loss narrowed to $2.56 million or $0.04 per share, from $3.14 million or $0.05 per share last year. Revenues decreased to $34.79 million from $38.79 million last year.
The company noted that its first quarter 2013 results include a non-cash charge for impairment of long-lived assets totaling $0.1 million. The net loss for the first quarter of prior year included $0.6 million of restructuring charges.
Henry Dubois, President and CEO of Hooper Holmes, said, "These results are disappointing, but reflect more where we have come from than where we are going. Since becoming a consultant to the Board in January and assuming the CEO role in April, I have been working with the management team on an operational plan designed to accelerate the move to a new, more efficient Portamedic delivery model. We have also established a credit line as a source of working capital."
For comments and feedback: editorial@rttnews.com