Healthcare services and information technology developer WebMD reported fiscal 2004 fourth-quarter (end-December 31) revenues of $307.6 million, up 19.1% from the $258.4 million posted in the same period last year. Revenue for fiscal year 2004 was $1.16 billion, an increase of 20.4% compared to the $964.0 million in 2003.
The firm's WebMD Practice Services segment in Van Nuys, CA, which includes the company's RIS operations, reported revenues of $76.4 million for the quarter, a 2.5% decrease compared to the $78.3 million posted for the fourth quarter of 2003. Income before taxes, noncash, and other items was $5.6 million compared to the $4.6 million reported for 2003. Greater operating efficiencies resulted in increased operating margins, the company said.
The Elmwood Park, NJ-based company also released an updated financial guidance for the first quarter of 2005. Revenues for the first quarter are expected to be between $297 million and $307 million, an increase of $7 million.
By AuntMinnie.com staff writers
March 9, 2005
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