Healthcare services and information technology developer WebMD reported fiscal 2005 second-quarter (end-June 30) revenues of $322.6 million, up 14.4% from the $281.9 million posted in the same period last year. Net income for the quarter was $16.2 million, a substantial uptick compared with the $5.8 million posted for the same quarter last year.
The firm's WebMD Practice Services segment in Tampa, FL, which includes the company's RIS operations, reported revenues of $78.6 million for the quarter, a 9.5% increase compared with the $71.8 million posted for the second quarter of 2004. Income before taxes, noncash, and other items was $8.2 million, an upturn when compared with the $1.8 million reported for the same period in 2004. Operating margins increased to 10.4% from 2.5% in the prior year as a result of revenue mix and improvements in delivery and service infrastructure, the firm said.
In related news, the Elmwood Park, NJ-based developer said it is now operating under the name Emdeon. The firm said it is changing its corporate name to avoid confusion with its subsidiary, WebMD Health, which is expected to trade separately on Nasdaq under the symbol WBMD following its planned initial public offering.
The company said it changed its name because the WebMD brand is more closely associated with WebMD Health and its Web sites than with its other businesses. Emdeon will continue to trade under the ticker symbol HLTH.
By AuntMinnie.com staff writers
August 5, 2005
Related Reading
WebMD Health Holdings files for $100 million IPO, July 15, 2005
WebMD gets Pacific Medical RIS/PACS install, July 14, 2005
WebMD notches four-site RIS win, July 7, 2005
WebMD nabs new installation, June 22, 2005
WebMD, IDX extend EDI relationship, May 17, 2005
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