Hooper Holmes, a US-based provider of outsourced health risk assessment services to the life insurance and health industries, has reported consolidated revenues of $37.9m for the second quarter of 2011, representing a 7% decline from $40.7m in the second quarter of 2010.
The Company posted a net loss of $1.6m for the second quarter of 2011, or $0.02 per share, compared to net income of $1.2m, or $0.02 per share, for the second quarter of 2010.
Net income for the second quarter of 2010 included a $1.6m reduction in a previously established reserve for interest and penalties pertaining to unclaimed property.
Hooper Holmes Services revenue totaled $5.5m for the second quarter of 2011, basically flat in comparison to the comparable prior year period, as a result of increased demand for outsourced underwriting services, offset by reduced revenue in our tele-underwriting business.
For the six months ended 30 June 2011, consolidated revenues were $78.5m compared to $82.6m in the comparable period of 2010.
The Company’s net loss for the six months ended 30 June 2011 totaled $1.7m, or $0.02 per share, compared to net income of $0.5m, or $0.01 per share, for the six months ended 30 June 2010.
Hooper Holmes president and CEO Ransom Parker said the firm continued to make progress towards stabilizing revenue and investing in the people and processes the company need to return to sustained growth and profitability.