Omnicell Announces Second Quarter 2018 Results

Jul 25, 2018

Mountain View, California

Omnicell, Inc. (NASDAQ: OMCL), a leading provider of medication and supply management solutions to healthcare systems, today announced results for its second quarter ended June 30, 2018.

GAAP Results
GAAP revenues for the second quarter of 2018 were $188.7 million, up $7.6 million, or 4.2% from the second quarter of 2017. GAAP revenues for the six months ended June 30, 2018 were $371.3 million, up $41.7 million, or 12.7% from the six months ended June 30, 2017.

Second quarter 2018 GAAP net income as reported was $6.6 million, or $0.16 per diluted share. This compares to GAAP net income of $1.9 million, or $0.05 per diluted share, for the second quarter of 2017.

GAAP net income for the six months ended June 30, 2018 was $9.3 million, or $0.23 per diluted share. This compares to GAAP net loss of $8.5 million, or a net loss of $0.23 per diluted share, for the six months ended June 30, 2017.

Non-GAAP Results

Non-GAAP revenues for the second quarter of 2018 were $188.7 million, up $7.3 million, or 4.0% from the second quarter of 2017. Non-GAAP revenues for the six months ended June 30, 2018 were $371.3 million, up $41.1 million, or 12.4% from the six months ended June 30, 2017.

Non-GAAP net income for the second quarter of 2018 was $18.4 million, or $0.46 per diluted share. This compares to non-GAAP net income of $12.8 million, or $0.33 per diluted share, for Non-GAAP net income for the six months ended June 30, 2018 was $29.8 million, or $0.75 per diluted share. This compares to non-GAAP net income of $15.3 million, or $0.40 per diluted share, for the six months ended June 30, 2017.

Non-GAAP net income for each period excludes, when applicable, the effect of share-based compensation expense, amortization expense of acquired intangible assets, acquisition-related expenses, fair value adjustments related to business acquisitions, restructuring and severance-related expenses, tax reform and restructuring benefits, contingent gains, and amortization of debt issuance cost.

Effective January 1, 2018, the Company adopted the new revenue recognition accounting standard, ASC 606, "Revenue from Contracts with Customers," utilizing the full retrospective transition method. All 2017 financial results have been adjusted to reflect the change.

"Medication management is playing an increasingly strategic role in patient outcomes and the financial success of healthcare institutions," said Randall Lipps, chairman, president, chief executive officer, and founder of Omnicell. "With a continued focus on digital transformation and strategic partnerships, we are driving efficiency and supporting patient safety through Omnicell's industry-leading platform."

2018 Guidance

For the third quarter of 2018, the Company expects non-GAAP revenues to be between $200 million and $206 million. The Company expects third quarter 2018 non-GAAP earnings to be between $0.52 and $0.57 per share.

For the year 2018, the Company expects product bookings to be between $630 million and $665 million. The Company expects non-GAAP revenues to be between $780 million and $800 million, and non-GAAP earnings to be between $1.90 and $2.05 per share.

The table below summarizes 2018 guidance outlined above.

Q3'18 Total Year 2018

Q3’18

Total Year 2018

Product Bookings

Not provided

$630 million - $665 million

Non-GAAP Revenues

$200 million - $206 million

$780 million - $800 million

Non-GAAP EPS

$0.52 - $0.57

$1.90 - $2.05








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