Healthways Reports Second-Quarter 2016 Financial Results
NASHVILLE, Tenn., Aug. 09, 2016 -- Healthways (HWAY) today announced financial results for the second quarter and six months ended June 30, 2016.
Second-Quarter 2016 Financial Highlights
Revenue growth from continuing operations (Network Solutions business) of 10.2% to $125.0 million from $113.4 million for the second quarter of 2015;
Net income from continuing operations of $20.0 million, or $0.54 per diluted share, compared with $10.8 million, or $0.29 per diluted share, for the second quarter of 2015. Net income for the second quarter of 2016 reflected an effective income tax rate of 0.0% as a result of tax benefits from the loss from discontinued operations for the second quarter of 2016, discussed below. For comparison, had the net income for the second quarter of 2016 been subject to a normalized tax rate of 40%, net income from continuing operations would have been $12.0 million or $0.32 per diluted share; and
Losses from discontinued operations, net of income tax expense, of $195.5 million, or $5.25 per diluted share, primarily due to the second-quarter operating loss incurred by the Total Population Health Services and Emerging Solutions businesses and the Company’s estimate of the impairment loss resulting from the classification of the assets of these businesses as held for sale.
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Published: 10 August 2016
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Written by Editor
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