MINNEAPOLIS—Health Fitness Corp., Minneapolis, experienced a 19.3 percent increase in revenue for the fourth quarter 2006 and a 15.7 percent increase for all of 2006, according to the company, which provides fitness and health management services. The company had revenue for the fourth quarter of $17.1 million compared to $14.3 million for the same period in 2005. Gross profit during the quarter increased 33.8 percent to $4.6 million from $3.4 million for the same period in 2005.
Operating income decreased 7 percent to $0.61 million from $0.65 million for the same period the year before primarily due to operational investments and non-cash, stock-based compensation expense, the company says.
For the year ended Dec. 31, 2006, revenue was $63.6 million compared to $54.9 million in 2005. Gross profit increased 27.6 percent to $17.6 million from $13.8 million for 2005. Operating income increased 4.6 percent to $3.7 million from $3.5 million for 2005.
In addition to the release of financials, the company also announced that it had formed a Science Advisory Board of health industry individuals to help the company “ensure HFC’s innovative programs and services remain of the highest possible quality,” says HFC President and CEO Gregg Lehman. The advisory board will review the quality and relevance of HFC’s products and services from scientific and technical perspectives, delivering guidance on the appropriate implementation of products and services, and providing peer review to HFC’s research programs