Earnings Call Excerpt
Hooper Holmes, Inc. (HH)
Q4 2007 Earnings Call
March 14, 2008 11:00 am ET
Executives
Jennifer Williams – FD
Roy H. Bubbs – Interim President and Chief Executive Officer
Michael Shea – Senior Vice President, Chief Financial Officer and Treasurer
Analysts
Mitra Ramgopal – Sidoti & Co.
Brian Riley – Wachovia
Nelson Obis – Winfield Capital
[Pat Reiner – Adirondack]
Walter Schenker – Titan Capital
Val Thomas – Merrill Lynch
Presentation
Operator
(Operator Instructions) I would now like to turn the meeting over to Miss Jennifer Williams with SD.
Jennifer Williams
Welcome to the Hooper Holmes fourth quarter and year-end 2007 conference call. If anyone has not received a copy of the release issued this morning, please call FD at (212) 850-5600, and a copy will be sent to you immediately.
Before management begins their formal remarks, I would like to remind you the extent of company statements or comments represent forward-looking statements. I refer you to the risk factors and other cautionary factors in this morning’s press release, as well as the company’s most recent SEC filing.
In addition, the call is being recorded on behalf of Hooper Holmes and is copyrighted material. It could not be re-recorded or re-broadcast without the company’s expressed permission. As you know, your participation implies consent to our taping. Once management has concluded their formal remarks, we will open the call for questions.
With that said, for management are Roy Bubbs, Interim President and Chief Executive Officer, and Michael Shea, Chief Financial Officer.
Roy H .Bubbs
I have some opening remarks and afterwards, Mike and I will be glad to take any of your questions.
When we spoke ten days ago, I told you that I was focused on sales and sales management and Portamedic, and I talked about the importance of possible revenue. I also spoke about driving a professional business mentality throughout Hooper Holmes, an attitude focused on profitable growth.
The results we announced this morning reinforce the importance of focusing on profitability and growth. Mike will review the numbers in a moment but before he does, I want to call your attention to several points.
First is Portamedic units, which declined 13% in the fourth quarter of 2007. That is the same rate of decline we saw in the third quarter. This is not satisfactory and it is one reason why one of the first thing I did on the job was to bring Portamedic’s top sales and operational leaders together for a two-day working session.
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