Healthstream IT 'challenge'

Healthstream CEO Bobby Frist told stock analysts in a teleconference this morning that the company faces "challenges" in finding enough Tech talent in the Nashville area and hopes its Austin, Texas, office will help. The company reported its earnings yesterday, close-on-the-heels of closing its acquisition of Sy.Med. More here. Based on its report, it seems likely to go over the 3 Million implemented subscribers mark in 1Q 2013 (and pass that mark in 4Q12, when non-implemented subs are included).

HealthStream financials

This afternoon, HealthStream (NASDAQ:HSTM) announced quarterly and year-end financial results. Annual results include an 11 percent year-to-year increase in revenue, to $57.4MM; a 106 percent increase in operating income, to $5.1MM; and, adjusted EBITDA of $10.9MM, up 35 percent from $8.1MM. Annual and quarterly results were influenced by the effect of a $9.1MM deferred tax benefit taken by the company, which said it determined in the 4thQ the company's operations had "achieved sustainable profitability." Contract-value and -subscriber trends remained strong on the learning side; sales and marketing expenses rose; and, the HealthStream research unit continues to cope with customer cutbacks in most surveying categories. The company also noted it intends to spend up to $4MM in 2010 for software, hardware, capitalized software development, etc. Earlier today, the company said, the HealthStream board approved a $4MM stock buyback. The company said it has also given more authority to newly promoted SVP Michael Sousa to drive sales in both learning and research sides of the business. Prior to HealthStream's earnings report, HSTM closed regular trading today at $4.12, up nearly 3.8 percent; and, recorded at least one transaction at $4.30, after hours this evening. HealthStream CEO Bobby Frist is due to address analysts at 8 a.m. CT, Tuesday, Feb. 24.

CEO entrepreneurs on N'ville prospects

No one claims to have a crystal ball, but they all think the chances are good Nashville has a bright future -- Bobby Frist, Mike Shmerling, Sid Chambless, Mildred Walters, Jeff Cornwall, Joe Freedman... but, as always, there's value in the details. The details are here.

Frist's gameplan at HealthStream

Founder-CEO Bobby Frist opened-up a bit on HealthStream's strategy going forward, including leveraging its new Quorum relationships, new emphasis on finding M&A candidates and products and, of course, sales. The story's here.

HealthStream stock analyst comments

HealthStream Inc., the 19-year-old venture that went public about 9 years ago, faces continued scrutiny by analyst Vince Colicchio. VNC reports it here.

Update on the Entrepreneur Resource Center

Middle Tennessee's proposed Entrepreneur Resource Center is not so much intended to "make it easy" on entrepreneurs launching business, as much as it is intended to accelerate the process of vetting ideas for businesses, according to Bobby Frist, co-chair of the Entrepreneurship Task Force of the Nashville Area Chamber and Partnership 2010. Frist, who is founder and CEO of Healthstream, answered questions during today's live webcast produced by The Tennesseen and hosted by Business Editor Randy McClain. (He's pictured far-left, with Mike Shmerling.) Frist said an advisory board of about 9 persons will be assembled to guide the ERC center along. No formal invitations to that advisory body have yet been extended, Frist said. Frist said the ER Center -- first a virtual online center, later a physical presence -- will serve as a "beacon" to the nation and the world, signaling that Nashville is serious about encouraging entrepreneurship by local firms and by firms that might be attracted to relocate to Music City. First noted that VCs and others who might have originally been concerned about the ERC possibly becoming competition for deal flow, have largely had their concerns allayed. At the same time, he said, the region must try to recruit additional capital investors to middle Tennessee. Frist said the entrepreneurship initiative would probably first leverage Nashville's existing strengths in healthcare services and technology, plus music and related technologies. Frist noted that his EP co-chair, Choice Food Chairman Mike Shmerling, has been particularly keen on using the ERC to attract businesses to relocate here from other states.