Gordon Clemons - Chairman and CEO.

Analysts:.

Thank you for standing by. Welcome to the CorVel Corporation Quarterly Earnings Release Webcast. During the course of this webcast, CorVel Corporation may make projections or other forward-looking statements regarding future events or the future financial performances of the company.

CorVel wishes to caution you that these statements are only predictions and the actual events or results may differ materially. CorVel refers you to the documents the company files from time-to-time with the Securities and Exchange Commission, specifically the company’s last Form 10-K and 10-Q filed for the most recent fiscal year and quarter.

These documents contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements. I would now like to turn the webcast over to your host, Mr. Gordon Clemons..

one, the evolution of our hub activities and smart technologies; two, building additional workflow processes; three, being prepared for the next generation of medical review; and, four, ongoing improvements to our claims intake medical review, PPO, and return-to-work processes.

In the quarter, we continued adding functionality to bring clients into our claims environment. We see a growing integration of our work with that of our employer customers.

Each of the steps towards seamless integration of the task involved in Absence Management opens more opportunity for us to handle technical issues and to work more closely with employers to best address the healthcare needs of their employees. We continue the development of our document management system.

It is one thing to image documents, but quite another to have the information in such document be understood by process automation software. Both insurance and healthcare require nimble processing of images and the meaning of their content. We’re working on the integration of telehealth services with our intake processes.

This is another aspect of healthcare, where we can break down delays in the employees’ episode of care and in their return to work. We’ve added more features to our My Care mobile app, making mobile apps effective in a low frequency environment such as personal healthcare requires unique approaches.

Although, this is a challenging area, in our integrated ecosystem we believe in the opportunity to find value-added new approaches. We continue plans for further expansions of our web services capability.

The more we work interactively with our wholesale clients, that are the carriers, the easier it is for them to receive good value when outsourcing tasks to us. Now, I’d like to cover a couple of additional statistics. The quarter ending cash balance was $36 million. Our DSO, that is Days Sales Outstanding and Receivables, was 43 days.

38,000 shares were repurchased in the quarter for $1.6 million, and we have returned $393 million to shareholders in the last 19 years, repurchasing 33,924,000 shares in that period. Shares outstanding at the end of the quarter were 19,597,000. The diluted EPS shares were for the quarter 19,754,000 shares.

Shares outstanding were reduced 2.9% during the last 12 months. Now, I’d like to turn the webcast back over to our operator. Thank you..

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This concludes today’s webcast. You may disconnect your lines at this time..