Hooper Holmes, Inc. (NYSE MKT:HH) today announced financial results for the quarter ended March 31, 2016.

Consolidated revenues totaled $7.2 million for the first quarter of 2016, representing an increase of 27.5% compared to $5.7 million during the first quarter of 2015. The Company recorded a net loss of $3.4 million, or $0.03 per share for the first quarter of 2016 compared to a net loss of $2.1 million, or $0.03 per share for the first quarter of 2015. On an adjusted EBITDA basis, the Company's net loss for the first quarter 2016 was $1.4 million, a 10.1% improvement compared to the first quarter 2015.

Gross profit for the 2016 first quarter increased approximately 100% to $1.5 million, compared to $0.7 million for the same period last year. As a percent of sales, gross profit was 20.2% compared to 12.9% for the 2015 first quarter. Selling, general and administrative expense for the three month period ending March 31, 2016, totaled $3.8 million compared to $2.7 million in the first quarter of 2015, reflecting the addition of staff and other expenses associated with increased revenues from the provision of portal, wellness and coaching services to direct customers.

As of March 31, 2016, cash and cash equivalents totaled $2.0 million, with $2.6 million in borrowings outstanding under the Company’s credit facility.

Henry Dubois, President and CEO of Hooper Holmes commented, "The results we announced this morning reflect strong revenue growth, higher gross margins, and improving adjusted EBITDA. The momentum in our business continues, and we are making progress towards our 2016 financial goals of revenue of $42+ million and positive adjusted EBITDA and operating cash flow. Looking ahead, we will continue to execute our business plan to improve financial performance and deliver significantly improved shareholder value."

Conference Call

The Company will host a conference call today, Thursday, May 12, 2016, at 7:30 a.m. CT (8:30 a.m. ET) to discuss its first quarter 2016 financial results. A slide presentation will accompany the conference call and is available on the Company’s website located at www.hooperholmes.com.

To participate in the conference call, please dial 888-378-0320 or internationally 1-719-457-2697, conference ID: 5726444, five to ten minutes before the call is scheduled to begin. A live webcast will be hosted on the Company's website located at www.hooperholmes.com. A replay of the conference call will be available through May 19, 2016, by dialing 877-870-5176, or internationally 1-858-384-5517. The access code for the replay is 5726444.

About Hooper Holmes

Hooper Holmes mobilizes a national network of health professionals to provide on-site health screenings, laboratory testing, risk assessment and sample collection services to wellness and disease management companies, employers and brokers, government organizations and academic institutions nationwide. Under the Accountable Health Solutions brand, the Company combines smart technology, healthcare and behavior change expertise to offer comprehensive health and wellness programs that improve health, increase efficiencies and reduce healthcare delivery costs.

More information is available at hooperholmes.com and at accountablehealthsolutions.com.

This press release contains “forward-looking” statements, as such term is defined in the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this press release reflect the Company’s current beliefs and expectations. Actual results or performance may differ materially from what is expressed in the forward looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expected. These risks and uncertainties include, but are not limited to, risks related to customer concerns about our financial health, our liquidity, uncertainty as to our working capital requirements over the next 12 to 24 months, our ability to maintain compliance with the financial covenants contained in our credit facility and term loan, declines in our business, our competition, and our ability to retain and grow our customer base and its related impact on revenue, our ability to recognize operational efficiencies and reduce costs, our ability to realize the expected benefits from the acquisition of Accountable Health Solutions, and such other factors as discussed in Part I, Item 1A, Risk Factors, and Part II, Item 7, Management’s Discussion and Analysis of Financial Conditions and Results of Operations of our Annual Report on Form 10-K for the year ended December 31, 2015, and similar discussions in our other filings with the Securities and Exchange Commission ("SEC"). The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release to reflect the occurrence of unanticipated events, except as required by law.

    Hooper Holmes, Inc. Consolidated Balance Sheets (in thousands)   March 31, 2016 December 31, 2015 ASSETS (unaudited) Current assets: Cash and cash equivalents $ 2,031 $ 2,035 Accounts receivable, net of allowance for doubtful accounts 5,700 5,565 Inventories 683 567 Other current assets 324 331 Total current assets 8,738 8,498   Property, plant and equipment, net 2,475 2,771 Intangible assets, net 5,011 5,331 Goodwill 633 633 Other assets 438 450 Total assets 17,295 17,683   LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable 4,756 5,339 Accrued expenses 4,733 5,186 Short-term debt 4,606 5,330 Total current liabilities 14,095 15,855   Other long term liabilities 1,470 1,611   Commitments and contingencies - -   Stockholders' equity: Common stock 5,129 3,121 Additional paid-in capital 159,128 156,195 Accumulated deficit (162,456) (159,028) 1,801 288 Less: Treasury stock at cost (71) (71) Total stockholders' equity 1,730 217 Total liabilities and stockholders' equity $ 17,295 $ 17,683       HOOPER HOLMES INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited; in thousands, except share and per share data)       Three months ended March 31,       2016   2015   Revenues $ 7,241 $ 5,681 Cost of operations 5,781 4,949 Gross profit 1,460 732 Selling, general and administrative expenses 3,827 2,660 Transaction costs 108 87 Operating loss from continuing operations (2,475) (2,015) Interest expense, net 789 83 Loss from continuing operations before taxes (3,264) (2,098) Income tax expense 5 5 Loss from continuing operations (3,269) (2,103)   Discontinued operations:   Loss from discontinued operations (159) (4) Net loss $ (3,428) $ (2,107)   Reconciliation of GAAP results to Non-GAAP results Interest expense $ 212 $ - Other debt related costs included in Interest expense 577 83 Income taxes 5 5 Depreciation & amortization 701 293 Share-based compensation expense 80 89 Stock payments 150 - Transaction Costs 108 87 Transition Costs 52 -   Portamedic contingent liability 150 - Adjusted (Non-GAAP) EBITDA $ (1,393) $ (1,550)  

Adjusted EBITDA for first quarter 2016 was ($1.4 million), compared to ($1.6 million) of adjusted EBITDAin the first quarter of 2015. The above schedule is a description of adjustments made to net loss.

    Income (loss) per share Continuing operations: Basic $ (0.03) $ (0.03) Diluted (0.03) (0.03) Discontinued operations: Basic (0.00) (0.00) Diluted (0.00) (0.00) Net loss: Basic (0.03) (0.03)   Diluted (0.03) (0.03)   Weighted average number of shares: Basic and diluted 120,848,209 70,866,603

Hooper HolmesHenry E. Dubois, 913-764-1045President and CEOorInvestors:S.M. Berger & CompanyAndrew Berger, 216-464-6400