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HealthStream issues 2018 guidance, declares special dividend

HealthStream Inc. set its 2018 outlook, expecting consolidated revenues to increase in the range of 6% to 8% and operating income to increase between 20% and 30% as compared to the previous year.

The company reported fourth-quarter 2017 net income of $3.9 million, or 12 cents per share, versus a net loss of $311,000, or 1 cent per share, in the prior-year quarter. Non-GAAP net income was $4.2 million, up from $591,000 a year ago.

The tax reform led to a benefit of approximately $2.7 million during the fourth quarter of 2017 through the revaluation of its net deferred tax liabilities.

The company's board declared a special dividend of roughly $32.5 million, or $1.00 per share, from proceeds of divestiture of Patient Experience business. The dividend is payable on April 3 to shareholders of record on March 6.

Further, Chief Information Officer Jeff Doster resigned from the company, effective March 30. He will work with the company's COO and chief technology officer to ensure a smooth transition, the company said.