Omnicell Announces First Quarter 2015 Results

Revenue of $116.2 million grew 14.2% Year-Over-Year and acquisitions of MACH4 Pharma Systems and Avantec Healthcare Ltd. completed

April 30, 2015

MOUNTAIN VIEW, Calif.

Omnicell, Inc. (NASDAQ: OMCL), a leading provider of medication and supply management solutions to healthcare systems, today announced results for its first quarter ended March 31, 2015.

GAAP results: Revenue for the first quarter of 2015 was $116.2 million, up $14.5 million or 14.2% from the first quarter of 2014, and down $5.3 million or 4.4% from the fourth quarter of 2014.

First quarter 2015 net income as reported in accordance with U.S. generally accepted accounting principles (GAAP) was $6.3 million, or $0.17 per diluted share. This compares to net income of $6.2 million, or $0.17 per diluted share, in the first quarter of 2014 and net income of $9.2 million, or $0.25 per diluted share, in the fourth quarter of 2014.

Non-GAAP results: Non-GAAP net income was $10.8 million for the first quarter of 2015, or $0.29 per diluted share. Non-GAAP net income for the first quarter excludes $3.7 million of stock-based compensation expense and $1.2 million ($0.8 million net of the $0.4 million tax effect) of amortization expense for all intangible assets associated with acquisitions made by Omnicell in 2014 and earlier years. This compares to non-GAAP net income of $9.6 million, or $0.26 per diluted share, for the first quarter of 2014. Non-GAAP net income for the first quarter of 2014 excluded $2.7 million of stock-based compensation expense and $1.0 million ($0.6 million net of $0.4 million tax effect) of amortization expense for all intangible assets acquired in connection with our business acquisitions. First quarter 2015 results compare to non-GAAP net income of $14.3 million for the fourth quarter of 2014 or $0.39 per diluted shares. Non-GAAP net income for the fourth quarter excludes $4.2 million of stock-based compensation expense and $1.2 million ($0.8 million net of the $0.4 million tax effect) of amortization expense for all intangible assets associated with our business acquisitions.

“I am pleased to report Omnicell's very strong start to the year, as the success we achieved in 2014 based on our established growth strategy is continuing to deliver great results,” said Randall Lipps, Omnicell president, chairman and CEO. “In the first quarter of 2015 we exceeded expectations in each of our key measures of new orders, revenues and profit.”

“We are well positioned to pursue future growth as well, as demonstrated by the recently announced acquisitions of MACH4 Pharma Systems, a producer of robotic medication dispensing systems and Avantec Healthcare Ltd., our longstanding distribution partner in the U.K., in addition to our continued success in competitive conversions of leading health systems,” he added.

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