July 22, 2010
MOUNTAIN VIEW, Calif.
Omnicell, Inc. (NASDAQ: OMCL), a leading global provider of system solutions to acute healthcare facilities, today announced results for its second quarter ended June 30, 2010.
GAAP results: Revenue for the second quarter of 2010 was $54.7 million, up $0.5 million or 1% from the first quarter of 2010, and up $2.1 million or 4% from the second quarter of 2009.
Second quarter 2010 net income as reported in accordance with U.S. generally accepted accounting principles (GAAP) was $2.0 million, or $0.06 per diluted share. This compares to net income of $1.0 million, or $0.03 per diluted share in the first quarter of 2010, and net income of $0.9 million, or $0.03 per diluted share in the second quarter of 2009.
Non-GAAP results: Non-GAAP net income was $4.1 million for the second quarter of 2010, or $0.12 per diluted share, which excludes $2.1 million in stock compensation expense. This compares to non-GAAP net income of $3.1 million, or $0.09 per diluted share for the first quarter of 2010, which excludes $2.2 million in stock compensation expense. Second quarter 2010 results compare to non-GAAP net income of $3.3 million, or $0.10 per diluted share for the second quarter of 2009, which excludes $2.4 million in stock compensation expense.
"In light of a challenging economic environment for capital spending, I am pleased with our results for Q2," said Randall Lipps, Omnicell president, chairman and CEO. "Revenue is up year to year and profits increased. Our solutions continue to resonate with new and existing hospital customers who are seeking a trustworthy partner and expert advisor for adding the safest and most effective medication and supply automation capabilities to their operations."
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