Streamline Health Posts Q4 Loss

Streamline Health Solutions Inc. STRM reported a loss for the fourth quarter on Thursday. The Atlanta, Georgia-based company reported a quarterly net loss of $4.8 million, or $0.28 per share, versus a year-ago loss of $1.9 million, or $0.14 per share. Its revenue rose around 1.2 percent to $6.6 million, from $6.5 million, in the year-ago period. However, analysts were expecting a loss of $0.16 per share on revenue of $7.03 million. Maintenance and support revenue rose $0.3 million versus the year-ago period. Its adjusted EBITDA came in at $(0.7) million, compared to $(2.2) million in the year-ago period. New sales bookings were $0.3 million for the quarter. At the end of the quarter, backlog was $72.5 million. "2014 was a difficult year for our company, and for many other companies in our industry, as purchasing slowed down following the most recent phase of Meaningful Use," stated David W. Sides, President and CEO, Streamline Health Solutions, Inc. "A higher level of revenue attrition – nearly twice our historical average - comprised of the loss of some legacy GE clients along with some acquired client relationships negatively affected revenue in 2014 and will affect it in 2015 as well." Streamline Health shares fell 1.07 percent to $2.78 in the after-hours trading session.