HMS Holdings Announces Filing of 2016 10-K and 1Q’17 10-Q with the SEC
07 June 2017 - 7:45AM
HMS Holdings Corp. (the “Company” or “HMS”) (NASDAQ:HMSY) announced
the filing today of the Company’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2016 (the “2016 Form 10-K”) and
Quarterly Report on Form 10-Q for the period ended March 31, 2017
(the “2017 Q1 Form 10-Q”) with the U.S. Securities and Exchange
Commission (SEC). As a result of today’s filings, the Company
believes it is now in full compliance with NASDAQ’s listing
requirements.
“We are very pleased to have completed the year-end 2016 audit
and first quarter 2017 review. The results as filed show no change
to period end reserves in the Estimated Liability for CMS Appeals
and the Accounts Receivable (AR) Allowance for 2016 and a reduction
of approximately $900,000 in the AR Allowance we initially posted
for the first quarter of 2017. The only difference from previously
reported numbers for 2016 is that certain AR write-offs totaling
approximately $6.3 million reported in SG&A have been
reclassified and presented as a contra revenue item, which has no
impact on previously reported net income or adjusted EPS,” said
Jeff Sherman, CFO. “With these filings completed, we will continue
our focus on achieving our growth objectives for the balance of
2017.”
The 2016 Form 10-K and the 2017 Q1 Form 10-Q are available on
the SEC website at http://www.sec.gov and on the HMS Investor
Relations website at http://investor.hms.com/financials.cfm.
About HMS
HMS Holdings Corp., through its subsidiaries, provides
coordination of benefits, payment integrity, and health management
and engagement solutions for payers. HMS serves
state Medicaid programs; commercial health plans,
including Medicaid managed care, Medicare
Advantage and group and individual health lines of business;
federal government health agencies, including the Centers for
Medicare & Medicaid Services and the Veterans Health
Administration; government and private employers; child support
agencies; and other healthcare payers and sponsors. As a result of
HMS's services, customers recover billions of dollars annually and
save billions more through the prevention of improper payments.
Safe Harbor Statement
This press release contains "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Such statements reflect our current
expectations, projections and assumptions about our business, the
economy and future events or conditions. They do not relate
strictly to historical or current facts. Forward‐looking statements
can be identified by words such as “aims,” “anticipates,”
“believes,” “estimates,” “expects,” “forecasts,” “intends,”
“likely,” “may,” “plans,” “projects,” “seeks,” “targets,” “will,”
“would,” “could,” “should,” and similar expressions and references
to guidance, although some forward-looking statements may be
expressed differently. Additional facts, including the future
effect of different accounting determinations, could cause actual
results to differ from those stated or implied in our
forward-looking statements, as could the other factors, risks and
uncertainties described in the 2016 Form 10-K and in our other
filings with the SEC. Factors or events that could cause actual
results to differ may emerge from time to time and are difficult to
predict. Should known or unknown risks or uncertainties
materialize, or should underlying assumptions prove inaccurate,
actual results may differ materially from past results and those
anticipated, estimated or projected. We caution you not to place
undue reliance upon any of these forward-looking
statements. Any forward-looking statements are made as of the
date of this press release. Except as may be required by law, we
disclaim any obligation to publicly update forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor Contact:
Dennis Oakes
SVP, Investor Relations
dennis.oakes@hms.com
212-857-5786
Media Contact:
Francesca Marraro
VP, Marketing and Communications
fmarraro@hms.com
212-857-5442
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