Health Grades Inc. (HGRD) reported second-quarter net income of $1.2 million or $0.04 per share, compared to $3.8 million or $0.11 per share in the same quarter last year.
Operating income for second quarter was $1.7 million, compared to $5.7 million in the prior year quarter. On average, four analysts polled by First Call/Thomson Financial expected the company to earn $0.04 per share.
Total revenue for quarter decreased to $9.3 million from $11.4 million in the comparable quarter last year. Analysts expected the company to report revenue of $9.79 million.
Looking ahead, the company narrowed its full year 2008 guidance for ratings and advisory revenue in the range of $41 million-$43 million from the previous guidance range of $41 million-$46 million. Analysts currently expect the company to report revenue of $42.01 million for the full year.
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