Monday, January 12, 2009

Unhealthy 2009 Outlook at Healthways

Ben Leedle, Chief Executive Officer of Healthways (HWAY-$12.76), acknowledged on the first-quarter 2009 earnings call that the health-management program administrator lost $70 million in revenue due to terminated contracts, renegotiations at less favorable terms, and delayed purchasing decisions by certain customers. Healthways, which runs wellness and disease-prevention programs targeting fitness, weight management, alternative medicine and smoking cessation, failed to mention on the call, however, that it could also be forced to reverse millions in already-booked performance-contract fees, according to the 10-Q regulatory filing… Read More….

Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

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