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Automated Dispensing Cabinets
Considered the most important pharmacy technology used today, automated dispensing cabinets play a critical role in medication safety and nurse efficiency.
It’s the ongoing dilemma. Anesthesia providers need instant access to medications, but pharmacy wants tighter control. With Omnicell medication workstations designed for the operating room you can have both.
Disparate healthcare systems create disjointed workflow and extra steps for caregivers. In order to increase efficiency and prevent errors, healthcare providers increasingly need interoperability between systems.
Mountain View, California
Record GAAP revenue of $171.0 million representing 47% year over year growth
Non-GAAP diluted EPS of $0.35 representing 21% year over year growth
Completion of the Aesynt Acquisition
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, 2016.
GAAP results: Revenue for the first quarter of 2016 was $171.0 million, up $40.7 million or 31.2% from the fourth quarter of 2015, and up $54.8 million or 47.1% from the first quarter of 2015.
First quarter 2016 net loss as reported in accordance with U.S. generally accepted accounting principles (GAAP) was $(0.4) million, or $(0.01) per diluted share. This compares to GAAP net income of $7.7 million, or $0.21 per diluted share, for the fourth quarter of 2015, and GAAP net income of $6.3 million, or $0.17 per diluted share, for the first quarter of 2015. Omnicell completed its acquisition of Aesynt Holding Coöperatief U.A. ("Aesynt') on January 5, 2016 and its results of operations are included in Omnicell's Condensed Consolidated Statement of Operations as of that date.
Non-GAAP results: Non-GAAP revenue for the first quarter of 2016 was $173.7 million, up $43.4 million or 33.3% from the fourth quarter of 2015, and up $57.4 million or 49.4% from the first quarter of 2015.
Non-GAAP net income for the first quarter of 2016 was $12.9 million, or $0.35 per diluted share, excluding $3.9 million of stock-based compensation expense, $5.7 million, net of tax effect of $3.5 million, of intangible assets amortization expense, $1.4 million, net of tax effect of $0.9 million of acquisition related expenses for Aesynt acquisition, and $0.6 million, net of tax effect of $0.3 million of inventory fair value adjustments. Non-GAAP net income includes the effect of a deferred revenue fair value adjustment of $1.7 million, net of tax effect of $1.0 million. This compares to fourth quarter 2015 non-GAAP net income of $14.4 million, or $0.40 per diluted share, which excluded $3.7 million of stock-based compensation expense, $1.2 million, net of tax effect of $0.7 million, of intangible assets amortization expense, and $2.0 million, net of tax effect of $0.9 million, for acquisition related expenses for the Aesynt acquisition. Non-GAAP net income for the first quarter of 2015 was $10.8 million, or $0.29 per diluted share, which excluded $3.7 million of stock-based compensation expense and $0.8 million, net of tax effect of $0.4 million, of amortization expense for all intangible assets associated with past acquisitions.
"Omnicell’s first quarter of 2016 was marked by record revenues and the completion of our acquisition of Aesynt,” said Randall Lipps, President, CEO and Chairman. “I am pleased to report continued momentum with a strong contribution from new customer orders as we begin to realize the strength that our expanded portfolio can deliver. The company is well positioned to take advantage of the great opportunities ahead."
Second quarter 2016 Guidance
For the second quarter of 2016, the company expects Non-GAAP revenue to be between $168 million and $175 million and Non-GAAP EPS to be between $0.30 and $0.34 per share.
The above guidance is inclusive of the Aesynt acquisition.
Omnicell evaluates its reportable segments in accordance with the authoritative guidance on segment reporting. The company's Chief Executive Officer is the company's Chief Operating Decision Maker ("CODM") pursuant to the guidance. The CODM allocates resources to the segments based on their business prospects, competitive factors, revenue and operating results. Omnicell has the following reportable segments: Automation & Analytics, and Medication Adherence. The financial results of the Aesynt acquisition acquired in Q1 2016 are included in the Automation & Analytics reportable segment.
Certain corporate-level costs which include expenses related to executive management, finance and accounting, human resources, legal, training and development, and certain administrative expenses are excluded from the reportable segment financial results.
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