-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VUQxM5k/EhfCenDBgNSvfhdaK/gOcrn6vn9oCpM8nJYKNappKwtHxsJkiz/HY8iL SlpAH/zSZXes+1DdOcZoUw== 0001047469-03-017578.txt : 20030508 0001047469-03-017578.hdr.sgml : 20030508 20030508171949 ACCESSION NUMBER: 0001047469-03-017578 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030506 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030508 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADAM INC CENTRAL INDEX KEY: 0000863650 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 581878070 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26962 FILM NUMBER: 03688712 BUSINESS ADDRESS: STREET 1: 1600 RIVEREDGE PARKWAY STREET 2: STE 800 CITY: ATLANTA STATE: GA ZIP: 30328 BUSINESS PHONE: 7709800888 MAIL ADDRESS: STREET 1: 1600 RIVEREDGE PKWY STREET 2: STE 800 CITY: ATLANTA STATE: GA ZIP: 30328 FORMER COMPANY: FORMER CONFORMED NAME: A D A M SOFTWARE INC DATE OF NAME CHANGE: 19950919 8-K 1 a2110718z8-k.htm FORM 8-K
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SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 6, 2003

A.D.A.M., INC.
(Exact name of registrant as specified in its charter)

Georgia
(State or other jurisdiction
of incorporation)
  0-26962
(Commission file number)
  58-1878070
(I.R.S. Employer Identification No.)

1600 RiverEdge Parkway, Suite 100, Atlanta, Georgia 30328-4658
(Address of Principal Executive Offices)

Registrant's telephone number, including area code: (770) 980-0888





Item 7. Financial Statements and Exhibits

        The press release issued by A.D.A.M., Inc. on May 6, 2003 announcing its results for the first quarter of 2003 is filed herewith as Exhibit 99.1.


Item 9. Regulation FD Disclosure and Item 12. Disclosure of Results of Operations and Financial Condition

        On May 6, 2003, A.D.A.M., Inc. issued a press release announcing its results for the quarter ended March 31, 2003. A copy of the press release is furnished as part of this report and incorporated by reference in response to Items 9 and 12 of this Form 8-K.

2



SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

        A.D.A.M., Inc.

Date: May 8, 2003

 

By:

 

/s/  
ROBERT S. CRAMER, JR.      
Robert S. Cramer, Jr.
Chief Executive Officer

3



EXHIBIT INDEX

Exhibit
Number

  Exhibit Name
99.1   Press Release dated May 6, 2003

4




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SIGNATURES
EXHIBIT INDEX
EX-99.1 3 a2110718zex-99_1.htm EXHIBIT 99.1
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Exhibit 99.1

         LOGO

For Immediate Release


A.D.A.M., Inc. Announces First Quarter Results

Company reports quarterly net income of $0.04 per share

Atlanta, GA—May 6, 2003—A.D.A.M., Inc. (Nasdaq: ADAM) today announced financial results for the first quarter ended March 31, 2003.

Revenues for the quarter ended March 31, 2003 were $2,344,000 compared to revenues of $2,108,000 in the year-ago period, an increase of approximately 11%. Net income for the first quarter of 2003 increased to $299,000 from a net loss of ($230,000) in the year-ago quarter. Diluted earnings per share increased to $0.04 per share from a net loss per diluted share of ($0.03) in the year-ago quarter.

Net cash provided from operating activities for the quarter ended March 31, 2003 increased 59% to $1,486,000 from $935,000 in the year-ago quarter. Cash and cash equivalents were $3,703,000 as of March 31, 2003, up $1,483,000 from $2,220,000 as of December 31, 2002.

"Our first quarter results are encouraging," said Robert S. Cramer, Jr., A.D.A.M.'s Chairman and CEO. "We took numerous proactive steps in the last half of 2002 as a result of the changing eHealth landscape, and we are in a strong operational position to reach new customers and expand our sales efforts into other areas of healthcare. Our revenue concentrations that we had previously with WebMD and other Internet portals are now behind us as of the end of first quarter, and we believe our transition into healthcare and the employer markets is gaining strength. Our balance sheet is strong, we are generating positive cash, and expect to be cash positive for the year."

Mr. Cramer continued, "In the next several weeks we will be launching an exciting new communications and messaging suite that allows healthcare organizations and employers to communicate personalized health information. Organizations will be able to use the application to target and distribute newsletters, personalize and deliver patient education, connect to a call center, send reminders and alerts—even collect sophisticated usage data so that marketing departments and benefit managers can track and analyze ROI of their programs. These "technology-driven" solutions are what will continue to distinguish A.D.A.M. in the health information marketplace while providing a broader picture of our company, its capabilities, and the strategic direction we are taking."

A.D.A.M. will hold its first quarter earnings conference call today, May 6, 2003, at 10:00 A.M. EDT. To participate in the call, please dial (877) 858-9758 approximately five minutes prior to the start time. International callers may dial (706) 643-0758.

Forward-Looking Statements

Except for historical information, all of the statements, expectations and assumptions contained in this press release are forward-looking statements. These statements, especially revenue, net income and cash flow forecasts, involve a number of risks and uncertainties that could cause actual results, performance or developments to differ materially. Factors that could affect the company's actual results, performance or developments include general economic conditions, development of the Internet as a source of health information, pricing actions taken by competitors, demand for the company's health information, and regulatory changes in laws and regulations that impact how the company conducts its business. A.D.A.M. disclaims any obligation or duty to update any of its forward-looking statements.


About A.D.A.M., Inc.

Headquartered in Atlanta, A.D.A.M., Inc. (NASDAQ: ADAM) is a leading publisher of interactive, visually engaging health and medical information for healthcare organizations, medical professionals, consumers and students. A.D.A.M. products contain physician-reviewed text, health visuals produced by medically-trained illustrators, and multimedia interactivity to create health information solutions that offer a unique "visual learning" experience in both the healthcare and education markets. Today, A.D.A.M. employs a growing range of media, including Internet, software, CD-ROM, television and print, to deploy its proprietary content assets and products. A.D.A.M. is a founding member of Hi-Ethics, a coalition of the most widely referenced health websites and information providers committed to developing industry standards for the quality of consumer health information. For more information, visit www.adam.com.

###


A.D.A.M., Inc.

Condensed Consolidated Statements of Operations
and Summary Balance Sheet Data

(In thousands, except per share data)

(unaudited)

 
  Three Months Ended
March 31,
2003

  Three Months Ended
March 31,
2002

 
    Total Revenues   $ 2,344   $ 2,108  
   
 
 
Operating expenses:              
  Cost of revenues     464     285  
  General and administrative     372     438  
  Product and content development     505     655  
  Sales and marketing     524     687  
  Depreciation and amortization     191     242  
   
 
 
    Total operating expenses     2,056     2,307  
   
 
 
    Operating income (loss)     288     (199 )
  Interest income (expense), net     11     24  
   
 
 
    Income (loss) before losses from affiliate     299     (175 )
  Losses from affiliate         (55 )
   
 
 
    Net income (loss)     299   $ (230 )
   
 
 
Basic net income (loss) per common share   $ 0.04   $ (.03 )
   
 
 
Basic weighted average number of common shares outstanding     7,008     7,180  
   
 
 
Diluted net income (loss) per common share   $ 0.04   $ (.03 )
   
 
 
Diluted weighted average number of common shares outstanding     7,197     7,180  
   
 
 

 


 

Summary Balance Sheet Data

 
  3/31/03
  12/31/02
Cash and cash equivalents   $ 3,703   $ 2,220
Accounts receivable-net     1,030     1,288
Total current assets     5,197     3,838
Goodwill     2,043     2,043
Total assets     9,740     8,691
Deferred revenue     2,611     1,916
Short term debt     13     19
Total current liabilities     3,327     2,632
Total liabilities     3,371     2,679
Shareholders' equity     6,369     6,012
Working capital     1,870     1,206



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A.D.A.M., Inc. Announces First Quarter Results
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