Emdeon Inc., a leading provider of healthcare revenue and payment cycle management and clinical information exchange solutions, today announced financial results for the fourth quarter and year ended December 31, 2013, as summarized below:
“We are pleased with our 2013 year end results as well as the strong fourth quarter close,†said Neil de Crescenzo, president and chief executive officer for Emdeon. “As we develop innovative products and services that build upon our core capabilities and delight our customers, we look forward to increasing positive momentum across all of our lines of business in 2014.â€
Fourth quarter 2013 revenue was $320.1 million, an increase of 8.7%, compared to $294.4 million for the same period in 2012. This increase in revenue was primarily due to business growth. Net loss for the fourth quarter of 2013 was $16.5 million compared to $10.3 million for the same period in 2012. This increase in net loss compared to the corresponding prior year period was primarily due to a charge related to cancelling a product development project and other non-routine charges.
Fourth quarter 2013 Non-GAAP Adjusted EBITDA increased 8.7% to $85.5 million, or 26.7% of revenue, from Non-GAAP Adjusted EBITDA of $78.7 million, or 26.7% of revenue, for the comparable period in 2012. This increase in Adjusted EBITDA compared to the same period in 2012 is primarily due to business growth, partially offset by increased investments related to sales and other strategic growth initiatives.