Hooper Holmes, a US-based provider of outsourced health risk assessment services to the life insurance and health industries, has reported revenues of $38.2m for the third quarter of 2011, down 5% compared to $40.3m in the same quarter previous year.
The company recorded a net loss for the third quarter of $1.3m, or ($0.02) per share, compared to a net loss of $1.2m, or ($0.02) per share, in 2010.
For the nine months ended 30 September 2011, consolidated revenues were $116.7m compared to $123.0m in the comparable period of 2010.
The company’s net loss for the nine months ended 30 September 2011 totaled $2.9m, or ($0.04) per share, compared to a net loss of $0.7m, or ($0.01) per share, for the nine months ended 30 September 2010.
Health & Wellness revenue totaled $5.7m for the third quarter of 2011, a 55% increase from the third quarter of 2010, primarily due to an increase in health screenings completed during the quarter.
Hooper Holmes president and CEO Ransom Parker said during the third quarter, the firm reduced the rate of revenue decline to 5% year over year compared to 9% in 2010.
"Additionally, we grew Health & Wellness revenues, won a major government study, began a new solutions sales partnership in the brokerage space, renewed carrier approval contracts and continued to expand iParamed," Parker said.