LONDON, UK / ACCESSWIRE / October 2, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Streamline Health Solutions, Inc. (NASDAQ: STRM) ("Streamline"), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=STRM, following the Company's reporting of its financial results on September 13, 2017, for the second quarter fiscal 2017. The Company's selling, general, and administrative (SG&A) expenses decreased 16.4% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
http://protraderdaily.com/register/
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on STRM. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/'symbol=STRM
Earnings Reviewed
For three months ended July 31, 2017, Streamline's total revenue decreased 19.6% to $5.92 million from $7.37 million in Q2 FY16. Total revenue was below analysts' expectations of $6.67 million. Recurring revenue comprised 82% of total revenue in the reported quarter.
For the reported quarter, the Company's Systems sales revenue decreased 75.8% to $328,692 from $1.36 million in Q2 FY16. During Q2 FY17, Streamline's Professional services' revenue increased 36% to $571,812 on a sequential basis. The increase was due to additional service hours sold to existing ECM and coding and CDI clients and due to the completion of several milestone projects that had been in the pipeline. During Q2 FY17, the maintenance and support's revenue decreased 12% to $3.28 million from $3.73 million in Q2 FY16. During Q2 FY17, the Company's Software services' revenue decreased 16.7% to $1.44 million from $1.73 million in Q2 FY16.
During Q2 FY17, Streamline's total backlog decreased 13.5% to $46.36 million from $53.64 million in Q2 FY16.
For the reported quarter, the Company's earnings before interest, tax, depreciation, and amortization (EBITDA) decreased 33.3% to $288,000 from $432,000 in Q2 FY16. For the reported quarter, the Company's adjusted EBITDA decreased 68.9% to $484,000 from $1.56 million in Q2 FY16. During Q2 FY17, the Company's adjusted EBITDA margin decreased 1300 basis points to 8% of revenue from 21% of revenue in Q2 FY16.
During Q2 FY17, the Company's SG&A expenses decreased 16.4% to $2.79 million from $3.34 million in Q2 FY16. For the reported quarter, the Company's research and development (R&D) expenses decreased 28.9% to $1.50 million from $2.11 million in Q2 FY16.
During Q2 FY17, Streamline's operating loss was $955,400 compared to operating loss of $567,831 in Q2 FY16. For the reported quarter, the Company's interest expense was $120,377 compared to $120,014 in Q2 FY16.
During Q2 FY17, Streamline's net loss was $1.10 million compared to net loss of $1.15 million in Q2 FY16. For the reported quarter, Streamline's diluted EPS was negative $0.06, at par with negative diluted EPS of $0.06 in Q2 FY16. The diluted EPS was in-line with analysts' expectations of negative $0.06.
Balance Sheet
As on July 31, 2017, Streamline's cash and cash equivalents decreased 48.3% to $2.92 million from $5.65 million in Q4 FY16.
During Q2 FY17, the Company's accounts receivable, net of allowance, increased 2.8% to $4.62 million from $4.49 million in Q4 FY16.
For the reported quarter, Streamline's accounts payable increased 40.1% to $1.57 million from $1.12 million in Q4 FY16.
During H1 FY17, the Company's cash provided by operating activities was negative $965,026 compared to positive $139,311 in H1 FY16.
Stock Performance
On Friday, September 29, 2017, the stock closed the trading session at $1.47, dropping 4.55% from its previous closing price of $1.54. A total volume of 56.05 thousand shares have exchanged hands, which was higher than the 3-month average volume of 55.98 thousand shares. Streamline Health Solutions' stock price soared 16.67% in the last one month, 34.62% in the past three months, and 39.26% in the previous six months. Furthermore, since the start of the year, shares of the Company have rallied 17.60%. The stock currently has a market cap of $30.80 million.
Pro-Trader Daily:
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: contact@protraderdaily.com
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily
