MOUNTAIN VIEW, Calif.,
Oct. 27, 2016 /PRNewswire/ -- Omnicell, Inc. (NASDAQ:
OMCL), a leading provider of medication and supply management
solutions to healthcare systems, today announced results for its
third quarter ended September 30, 2016.
GAAP results: Revenue for the third quarter of 2016 was
$176.7 million, up $3.8 million, or 2.2% from the second quarter of
2016, and up $51.5 million or 41.1%
from the third quarter of 2015. Revenue for the nine months ended
September 30, 2016 was $520.6
million, up $166.4 million or
47.0% from the nine months ended September 30, 2015.
Third quarter 2016 net income as reported in accordance with
U.S. generally accepted accounting principles (GAAP) was
$2.0 million, or $0.05 per diluted share. This compares to GAAP
net loss of $(1.2) million, or
$(0.03) per diluted share, for the
second quarter of 2016, and GAAP net income of $8.0 million, or $0.22 per diluted share, for the third quarter of
2015.
GAAP net income for the nine months ended September 30,
2016 was $0.4 million, or
$0.01 per diluted share. GAAP net
income for the nine months ended September 30, 2015 was
$23.1 million, or $0.63 per diluted share, which included a
$3.4 million gain on business
combination of an equity investment.
Non-GAAP results: Non-GAAP revenue for the third quarter
of 2016 was $179.4 million, up
$3.8 million, or 2.2% from the second
quarter of 2016, and up $54.2 million
or 43.3% from the third quarter of 2015.
Non-GAAP net income for the third quarter of 2016 was
$14.9 million, or $0.40 per diluted share, excluding $4.7 million of stock-based compensation expense,
$5.5 million, net of tax effect of
$3.4 million, of intangible assets
amortization expense, $0.5 million,
net of tax effect of $0.3 million, of
acquisition related expenses, 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 non-GAAP net income for the second quarter 2016 of
$14.0 million, or $0.38 per diluted share, excluding $5.5 million of stock-based compensation expense,
$5.6 million, net of tax effect of
$3.4 million, of intangible assets
amortization expense, $1.9 million,
net of tax effect of $1.1 million, of
acquisition related expenses and $0.6
million, net of tax effect of $0.3
million, of inventory fair value adjustments. Non-GAAP net
income for the second quarter of 2016 also includes the effect of a
deferred revenue fair value adjustment of $1.7 million, net of tax effect of $1.0 million. Non-GAAP net income for the third
quarter of 2015 was $13.2 million, or
$0.36 per diluted share, which
excluded $4.0 million of stock-based
compensation expense and $1.2
million, net of tax effect of $0.8
million, of amortization expense for all intangible assets
associated with past acquisitions.
Non-GAAP net income for the nine months ended September 30,
2016 was $42.0 million, or
$1.14 per diluted share, excluding
$14.1 million of stock-based
compensation expense, $16.8 million,
net of tax effect of $10.3 million,
of intangible assets amortization expense, $4.0 million, net of tax effect of $2.4 million, of acquisition related expenses and
$1.7 million, net of tax effect of
1.0 million, of inventory fair value adjustments. Non-GAAP net
income includes the effect of a deferred revenue fair value
adjustment of $5.0 million, net of
tax effect of $3.0 million. This
compares to non-GAAP net income of $34.2
million, or $0.93 per diluted
share for the nine months ended September 30, 2015, which
excludes $11.3 million of stock-based
compensation expense and $3.3
million, net of tax effect of $1.7
million of amortization expense for intangible assets
associated with past acquisitions. Non-GAAP net income for the nine
months ended September 30, 2015 also excludes a $3.4 million gain on an equity investment in
Avantec Healthcare Ltd.
"Omnicell completed another strong quarter marked by record
revenues and market share gains," said Randall Lipps, Omnicell President, CEO and
Chairman. "Omnicell's continued growth is the result of
successfully broadening our product portfolio, expanding the
markets we participate in, and partnering with our customers to
address medication management across the full continuum of patient
care. The Company is well positioned to take advantage of the great
opportunities ahead," Mr. Lipps added.
2016 Guidance
For full year 2016, the Company re-confirms its 2016 total year
guidance. The Company continues to expect product bookings to be
between $540 million and $560
million. The Company is narrowing the 2016 non-GAAP revenue
guidance range to be between $700 million to
$710 million. The range was previously $695 million to $715 million. The Company expects
2016 non-GAAP EPS to be in the middle of the range that we
previously guided to of $1.50 to
$1.60 per share.
Omnicell Conference Call Information
Omnicell will hold a conference call today, Thursday, October 27, 2016 at 1:30 p.m. PT to discuss third quarter financial
results. The conference call can be monitored by dialing
1-800-696-5518 within the U.S. or 1-706-758-4883 for all other
locations. The Conference ID # is 4139562. Internet users can
access the conference call at http://ir.omnicell.com/events.cfm. A
replay of the call will be available today at approximately
4:30 p.m. PT and will be available
until 11:59 p.m. PT on December 08, 2016. The replay access numbers are
1-855-859-2056 within the U.S. and 1-404-537-3406 for all other
locations, Conference ID # is 4139562.
About Omnicell
Since 1992, Omnicell (NASDAQ: OMCL) has been inspired
to create safer and more efficient ways to manage medications and
supplies across all care settings. As a leader in medication and
supply dispensing automation, central pharmacy automation, IV
robotics, analytics software, and medication adherence and
packaging systems, Omnicell is focused on improving care across the
entire healthcare continuum-from the acute care hospital setting,
to post-acute skilled nursing and long-term care facilities, to the
patient's home.
Over 4,000 customers worldwide use Omnicell automation and
analytics solutions to increase operational efficiency, reduce
medication errors, deliver actionable intelligence and improve
patient safety. The recent acquisition of Aesynt adds distinct
capabilities, particularly in central pharmacy and IV robotics,
creating the broadest medication management product portfolio in
the industry.
The Omnicell SureMed solution provides innovative medication
adherence packaging to help reduce costly hospital readmissions.
These medication adherence solutions are used by over 17,000
institutional and retail pharmacies in North America and the United Kingdom.
These pharmacies are served via the Company's sales channels and
our solutions enable them to maintain high accuracy and quality
standards in medication dispensing and administration while
optimizing productivity and controlling costs.
For more information about Omnicell, Inc. please
visit www.omnicell.com.
Forward-Looking Statements
To the extent any statements contained in this release deal with
information that is not historical, these statements are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. As such, they are subject
to the occurrence of many events outside Omnicell's control and are
subject to various risk factors that could cause actual results to
differ materially from those expressed or implied in any
forward-looking statement. Such statements include, but are not
limited to Omnicell's momentum, pipeline and new sales
opportunities, profit and revenue growth, and the success of
Omnicell's strategy for growth, including differentiated products,
expansion into new markets and targeted acquisitions. Risks that
contribute to the uncertain nature of the forward-looking
statements include our ability to take advantage of the growth
opportunities in medication management across the spectrum of
healthcare settings from long term care to home care, unfavorable
general economic and market conditions, risks to growth and
acceptance of our products and services, including competitive
conversions, and to growth of the clinical automation and workflow
automation market generally, the potential of increasing
competition, potential regulatory changes, the ability of the
company to improve sales productivity to grow product bookings, to
develop new products and to acquire and successfully integrate
companies, such as Aesynt. These and other risks and uncertainties
are described more fully in Omnicell's most recent filings with the
Securities and Exchange Commission. Prospective investors are
cautioned not to place undue reliance on forward-looking
statements. All forward-looking statements contained in this press
release speak only as of the date on which they were made. Omnicell
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date on
which they were made.
Use of Non-GAAP Financial Information
This press release contains financial measures that are not
calculated in accordance with U.S. generally accepted accounting
principles (GAAP). Our management evaluates and makes operating
decisions using various performance measures. In addition to
Omnicell's GAAP results, we also consider non-GAAP revenue,
non-GAAP gross profit, non-GAAP operating expenses, non-GAAP net
income, and non-GAAP net income per diluted share. Additionally, we
calculate Adjusted EBITDA (another non-GAAP measure) by means of
adjustments to GAAP Net Income. These non-GAAP results should not
be considered as an alternative to gross profit, operating
expenses, net income, net income per diluted share, or any other
performance measure derived in accordance with GAAP. We present
these non-GAAP results because we consider them to be important
supplemental measures of Omnicell's performance.
Our non-GAAP revenue, non-GAAP gross profit, non-GAAP operating
expenses, non-GAAP net income and non-GAAP net income per diluted
share are exclusive of certain items to facilitate management's
review of the comparability of Omnicell's core operating results on
a period to period basis because such items are not related to
Omnicell's ongoing core operating results as viewed by management.
We define our "core operating results" as those revenues recorded
in a particular period and the expenses incurred within that period
that directly drive operating income in that period. Management
uses these non-GAAP financial measures in making operating
decisions because, in addition to meaningful supplemental
information regarding operating performance, the measures give us a
better understanding of how we should invest in research and
development, fund infrastructure growth and evaluate the
effectiveness of marketing strategies. In calculating the above
non-GAAP results, management specifically adjusted for the
following excluded items:
a) Stock-based compensation expense. We
excluded from our non-GAAP results the expense related to
equity-based compensation plans as they represent expenses that do
not require cash settlement from Omnicell.
b) Intangible assets amortization from business
acquisitions. We excluded from our non-GAAP results the
intangible assets amortization expense resulting from our past
acquisitions. These non-cash charges are not considered by
management to reflect the core cash-generating performance of the
business and therefore are excluded from our non-GAAP results.
c) Amortization of debt issuance cost. Debt issuance cost
represents costs associated with the issuance of Term Loan and
Revolving Line of Credit facilities. The cost includes underwriting
fees, original issue discount, ticking fee, and legal fees. This
non-cash expense is not considered by management to reflect the
core cash-generating performance of the business and therefore is
excluded from our non-GAAP results.
d) Acquisition accounting impact related to deferred
revenue. In connection with acquisition of Aesynt, business
combination rules require us to account for the fair values of
arrangements for which acceptance has not been obtained, and post
installation support has not been provided in our purchase
accounting. The non-GAAP adjustment to our revenues is intended to
include the full amounts of such revenues. We believe the
adjustment to these revenues is useful as a measure of the ongoing
performance of our business.
e) Inventory fair value adjustments. In connection with
acquisition of Aesynt, business combination rules require us to
account for the fair values of inventory acquired in our purchase
accounting. The non-GAAP adjustment to the cost of revenues is
intended to include the impact of such adjustment. We believe the
adjustment is useful as a measure of the ongoing performance of our
business.
f) Acquisition related expenses. We excluded from the
non-GAAP results the expenses which are related to the recent
acquisitions. These expenses are unrelated to our ongoing
operations and we do not expect them to occur in the ordinary
course of business. We believe that excluding these acquisition
related expenses provides more meaningful comparisons of the
financial results to our historical operations and forward looking
guidance and the financial results of less acquisitive peer
companies.
Management adjusts for the above items because management
believes that, in general, these items possess one or more of the
following characteristics: their magnitude and timing is largely
outside of Omnicell's control; they are unrelated to the ongoing
operation of the business in the ordinary course; they are unusual
and we do not expect them to occur in the ordinary course of
business; or they are non-operational, or non-cash expenses
involving stock compensation plans.
We believe that the presentation of these non-GAAP financial
measures is warranted for several reasons:
1) Such non-GAAP financial measures provide an additional
analytical tool for understanding Omnicell's financial performance
by excluding the impact of items which may obscure trends in the
core operating results of the business;
2) Since we have historically reported non-GAAP results to the
investment community, we believe the inclusion of non-GAAP numbers
provides consistency and enhances investors' ability to compare our
performance across financial reporting periods;
3) These non-GAAP financial measures are employed by Omnicell's
management in its own evaluation of performance and are utilized in
financial and operational decision making processes, such as budget
planning and forecasting; and
4) These non-GAAP financial measures facilitate comparisons to
the operating results of other companies in our industry, which use
similar financial measures to supplement their GAAP results, thus
enhancing the perspective of investors who wish to utilize such
comparisons in their analysis of our performance.
Set forth below are additional reasons why share-based
compensation expense is excluded from our non-GAAP financial
measures:
i) While share-based compensation calculated in accordance
with ASC 718 constitutes an ongoing and recurring expense of
Omnicell, it is not an expense that requires cash settlement by
Omnicell. We therefore exclude these charges for purposes of
evaluating core operating results. Thus, our non-GAAP measurements
are presented exclusive of stock-based compensation expense to
assist management and investors in evaluating our core operating
results.
ii) We present ASC 718 share-based payment compensation
expense in our reconciliation of non-GAAP financial measures on a
pre-tax basis because the exact tax differences related to the
timing and deductibility of share-based compensation, under ASC 718
are dependent upon the trading price of Omnicell's common stock and
the timing and exercise by employees of their stock
options. As a result of these timing and market uncertainties
the tax effect related to share-based compensation expense would be
inconsistent in amount and frequency and is therefore excluded from
our non-GAAP results.
Our Adjusted EBITDA calculation is defined as earnings before
interest income and expense, taxes, depreciation and amortization,
and non-cash expenses, including ASC 718 stock compensation
expense, as well as excluding certain non-GAAP adjustments.
As stated above, we present non-GAAP financial measures because
we consider them to be important supplemental measures of
performance. However, non-GAAP financial measures have limitations
as an analytical tool and should not be considered in isolation or
as a substitute for Omnicell's GAAP results. In the future, we
expect to incur expenses similar to certain of the non-GAAP
adjustments described above and expect to continue reporting
non-GAAP financial measures excluding such items. Some of the
limitations in relying on non-GAAP financial measures are:
- Omnicell's stock option and stock purchase plans are important
components of incentive compensation arrangements and will be
reflected as expenses in Omnicell's GAAP results for the
foreseeable future under ASC 718.
- Other companies, including companies in Omnicell's industry,
may calculate non-GAAP financial measures differently than
Omnicell, limiting their usefulness as a comparative measure.
Pursuant to the requirements of SEC Regulation G, a detailed
reconciliation between Omnicell's non-GAAP and GAAP financial
results is set forth in the financial tables at the end of this
press release. Investors are advised to carefully review and
consider this information strictly as a supplement to the GAAP
results that are contained in this press release and in Omnicell's
SEC filings.
Omnicell, Inc.
Condensed
Consolidated Statements of Operations
(Unaudited, in
thousands, except per share data)
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
September 30,
2016
|
|
June
30, 2016
|
|
September 30,
2015
|
|
September 30,
2016
|
|
September 30,
2015
|
Revenues:
|
|
|
|
|
|
|
|
|
|
Product
|
$
|
133,621
|
|
|
$
|
130,674
|
|
|
$
|
100,941
|
|
|
$
|
392,190
|
|
|
$
|
284,204
|
|
Services and other
revenues
|
43,116
|
|
|
42,233
|
|
|
24,293
|
|
|
128,458
|
|
|
70,039
|
|
Total
revenues
|
176,737
|
|
|
172,907
|
|
|
125,234
|
|
|
520,648
|
|
|
354,243
|
|
Cost of
revenues:
|
|
|
|
|
|
|
|
|
|
Cost of product
revenues
|
76,188
|
|
|
76,306
|
|
|
51,700
|
|
|
224,412
|
|
|
143,319
|
|
Cost of services and
other revenues
|
19,041
|
|
|
18,584
|
|
|
9,831
|
|
|
56,766
|
|
|
28,074
|
|
Total cost of
revenues
|
95,229
|
|
|
94,890
|
|
|
61,531
|
|
|
281,178
|
|
|
171,393
|
|
Gross
profit
|
81,508
|
|
|
78,017
|
|
|
63,703
|
|
|
239,470
|
|
|
182,850
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Research and
development
|
15,264
|
|
|
13,794
|
|
|
9,176
|
|
|
42,896
|
|
|
25,941
|
|
Selling, general and
administrative
|
61,316
|
|
|
64,341
|
|
|
40,668
|
|
|
189,912
|
|
|
123,690
|
|
Gain on business
combination
|
—
|
|
|
—
|
|
|
—
|
|
|
|
|
(3,443)
|
|
Total
operating expenses
|
76,580
|
|
|
78,135
|
|
|
49,844
|
|
|
232,808
|
|
|
146,188
|
|
Income (loss) from
operations
|
4,928
|
|
|
(118)
|
|
|
13,859
|
|
|
6,662
|
|
|
36,662
|
|
Interest and other
income (expense), net
|
(2,721)
|
|
|
(1,881)
|
|
|
(646)
|
|
|
(6,773)
|
|
|
(1,635)
|
|
Income (loss) before
provision for income taxes
|
2,207
|
|
|
(1,999)
|
|
|
13,213
|
|
|
(111)
|
|
|
35,027
|
|
Provision (benefit)
for income taxes
|
224
|
|
|
(840)
|
|
|
5,177
|
|
|
(557)
|
|
|
11,922
|
|
Net income
(loss)
|
$
|
1,983
|
|
|
$
|
(1,159)
|
|
|
$
|
8,036
|
|
|
$
|
446
|
|
|
$
|
23,105
|
|
Net income (loss)
per share:
|
|
|
|
|
|
|
|
|
|
Basic
|
$
|
0.05
|
|
|
$
|
(0.03)
|
|
|
$
|
0.22
|
|
|
$
|
0.01
|
|
|
$
|
0.64
|
|
Diluted
|
$
|
0.05
|
|
|
$
|
(0.03)
|
|
|
$
|
0.22
|
|
|
$
|
0.01
|
|
|
$
|
0.63
|
|
Weighted average
shares outstanding:
|
|
|
|
|
|
|
|
|
|
Basic
|
36,332
|
|
|
35,987
|
|
|
35,806
|
|
|
36,020
|
|
|
35,983
|
|
Diluted
|
37,079
|
|
|
35,987
|
|
|
36,613
|
|
|
36,695
|
|
|
36,870
|
|
Omnicell, Inc.
Condensed
Consolidated Balance Sheets
(Unaudited, in
thousands)
|
|
|
September 30,
2016
|
|
December 31,
2015
|
|
|
|
|
ASSETS
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
$
|
47,287
|
|
|
$
|
82,217
|
|
Accounts receivable,
net
|
177,019
|
|
|
107,957
|
|
Inventories
|
74,125
|
|
|
46,594
|
|
Prepaid
expenses
|
29,620
|
|
|
19,586
|
|
Other current
assets
|
9,016
|
|
|
7,774
|
|
Total current
assets
|
337,067
|
|
|
264,128
|
|
Property and
equipment, net
|
41,034
|
|
|
32,309
|
|
Long-term investment
in sales-type leases, net
|
18,756
|
|
|
14,484
|
|
Goodwill
|
311,420
|
|
|
147,906
|
|
Intangible assets,
net
|
187,571
|
|
|
89,665
|
|
Long-term deferred
tax assets
|
2,955
|
|
|
2,361
|
|
Other long-term
assets
|
32,612
|
|
|
27,894
|
|
Total
assets
|
$
|
931,415
|
|
|
$
|
578,747
|
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
Current
liabilities:
|
|
|
|
Accounts
payable
|
$
|
36,715
|
|
|
$
|
22,646
|
|
Accrued
compensation
|
27,117
|
|
|
18,195
|
|
Accrued
liabilities
|
32,809
|
|
|
30,133
|
|
Long-term debt,
current portion, net
|
8,410
|
|
|
—
|
|
Deferred revenue,
net
|
93,120
|
|
|
53,656
|
|
Total current
liabilities
|
198,171
|
|
|
124,630
|
|
Long-term, deferred
revenue
|
17,096
|
|
|
17,975
|
|
Long-term deferred
tax liabilities
|
61,576
|
|
|
21,822
|
|
Other long-term
liabilities
|
12,173
|
|
|
11,932
|
|
Long-term debt,
net
|
214,834
|
|
|
—
|
|
Total
liabilities
|
503,850
|
|
|
176,359
|
|
Total stockholders'
equity
|
427,565
|
|
|
402,388
|
|
Total liabilities
and stockholders' equity
|
$
|
931,415
|
|
|
$
|
578,747
|
|
Omnicell, Inc.
Condensed
Consolidated Statements of Cash Flows
(Unaudited, in
thousands)
|
|
|
Nine months ended
September 30,
|
|
2016
|
|
2015
|
Operating
Activities
|
|
|
|
Net income
|
$
|
446
|
|
|
$
|
23,105
|
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
Depreciation and
amortization
|
43,905
|
|
|
18,457
|
|
(Gain) loss on
disposal of fixed assets
|
(9)
|
|
|
114
|
|
Gain on business
combination
|
—
|
|
|
(3,443)
|
|
Share-based
compensation expense
|
14,063
|
|
|
11,267
|
|
Income tax benefits
from employee stock plans
|
1,256
|
|
|
3,838
|
|
Excess tax benefits
from employee stock plans
|
(1,560)
|
|
|
(3,942)
|
|
Deferred income
taxes
|
(4,767)
|
|
|
(2,235)
|
|
Amortization of debt
financing fees
|
1,192
|
|
|
—
|
|
Changes in operating
assets and liabilities:
|
|
|
|
Accounts
receivable
|
(25,802)
|
|
|
(25,590)
|
|
Inventories
|
(7,745)
|
|
|
(12,898)
|
|
Prepaid
expenses
|
(5,782)
|
|
|
5,937
|
|
Other current
assets
|
(89)
|
|
|
1,019
|
|
Investment in
sales-type leases
|
(5,296)
|
|
|
(3,220)
|
|
Other
long-term assets
|
1,153
|
|
|
247
|
|
Accounts
payable
|
5,573
|
|
|
(127)
|
|
Accrued
compensation
|
(687)
|
|
|
(5,003)
|
|
Accrued
liabilities
|
(1,901)
|
|
|
4,608
|
|
Deferred
revenue
|
12,819
|
|
|
(5,369)
|
|
Other
long-term liabilities
|
(2,299)
|
|
|
(833)
|
|
Net cash
provided by operating activities
|
24,470
|
|
|
5,932
|
|
Investing
Activities
|
|
|
|
Purchases of
intangible assets, intellectual property and patents
|
(1,311)
|
|
|
(331)
|
|
Software development
for external use
|
(10,569)
|
|
|
(9,445)
|
|
Purchases of property
and equipment
|
(10,005)
|
|
|
(6,081)
|
|
Business acquisition,
net of cash acquired
|
(271,458)
|
|
|
(25,455)
|
|
Net cash
used in investing activities
|
(293,343)
|
|
|
(41,312)
|
|
Financing
Activities
|
|
|
|
Proceeds from debt,
net
|
247,051
|
|
|
—
|
|
Repayment of debt and
revolving credit facility
|
(25,000)
|
|
|
—
|
|
Payment for
contingent consideration
|
(3,000)
|
|
|
—
|
|
Proceeds from
issuances under stock-based compensation plans
|
16,516
|
|
|
15,665
|
|
Employees' taxes paid
related to restricted stock units
|
(1,917)
|
|
|
(2,285)
|
|
Excess tax benefits
from employee stock plans
|
1,560
|
|
|
3,942
|
|
Common stock
repurchases
|
—
|
|
|
(50,021)
|
|
Net cash
provided by (used in) financing activities
|
235,210
|
|
|
(32,699)
|
|
Effect of exchange
rate changes on cash and cash equivalents
|
(1,267)
|
|
|
(52)
|
|
Net decrease in cash
and cash equivalents
|
(34,930)
|
|
|
(68,131)
|
|
Cash and cash
equivalents at beginning of period
|
82,217
|
|
|
125,888
|
|
Cash and cash
equivalents at end of period
|
$
|
47,287
|
|
|
$
|
57,757
|
|
Omnicell, Inc.
Reconciliation of
GAAP to Non-GAAP
(Unaudited, in
thousands, except per share data)
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
|
|
|
September
30, 2016
|
|
June 30,
2016
|
|
September
30, 2015
|
|
September
30, 2016
|
|
September
30, 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
GAAP revenue to non-GAAP revenue:
|
|
|
|
|
|
|
GAAP
revenue
|
|
$
|
176,737
|
|
|
$
|
172,907
|
|
|
$
|
125,234
|
|
|
$
|
520,648
|
|
|
$
|
354,243
|
|
|
Acquisition
accounting impact related to deferred revenue
|
2,663
|
|
|
2,663
|
|
|
—
|
|
|
7,989
|
|
|
—
|
|
Non-GAAP
revenue
|
$
|
179,400
|
|
|
$
|
175,570
|
|
|
$
|
125,234
|
|
|
$
|
528,637
|
|
|
$
|
354,243
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
GAAP gross profit to non-GAAP gross profit:
|
|
|
|
|
|
|
GAAP gross
profit
|
$
|
81,508
|
|
|
$
|
78,017
|
|
|
$
|
63,703
|
|
|
$
|
239,470
|
|
|
$
|
182,850
|
|
GAAP gross
margin
|
46.1%
|
|
|
45.1%
|
|
|
50.9%
|
|
|
46.0%
|
|
|
51.6%
|
|
|
Share-based
compensation expense
|
628
|
|
|
644
|
|
|
581
|
|
|
1,821
|
|
|
1,630
|
|
|
Amortization of
acquired intangibles
|
5,199
|
|
|
5,214
|
|
|
570
|
|
|
15,624
|
|
|
1,469
|
|
|
Acquisition
accounting impact related to deferred revenue
|
2,663
|
|
|
2,663
|
|
|
—
|
|
|
7,989
|
|
|
—
|
|
|
Inventory fair value
adjustments
|
920
|
|
|
920
|
|
|
—
|
|
|
2,761
|
|
|
—
|
|
|
Acquisitions related
expenses
|
44
|
|
|
227
|
|
|
—
|
|
|
271
|
|
|
—
|
|
Non-GAAP gross
profit
|
$
|
90,962
|
|
|
$
|
87,685
|
|
|
$
|
64,854
|
|
|
$
|
267,936
|
|
|
$
|
185,949
|
|
Non-GAAP gross
margin
|
50.7%
|
|
|
49.9%
|
|
|
51.8%
|
|
|
50.7%
|
|
|
52.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
GAAP operating expenses to non-GAAP operating
expenses:
|
|
|
|
|
|
GAAP operating
expenses
|
$
|
76,580
|
|
|
$
|
78,135
|
|
|
$
|
49,844
|
|
|
$
|
232,808
|
|
|
$
|
146,188
|
|
GAAP operating
expenses % to total revenue
|
|
43.3%
|
|
|
45.2%
|
|
|
39.8%
|
|
|
44.7%
|
|
|
41.3%
|
|
|
Share-based
compensation expense
|
(4,049)
|
|
|
(4,851)
|
|
|
(3,385)
|
|
|
(12,242)
|
|
|
(9,637)
|
|
|
Amortization of
acquired intangibles
|
(3,714)
|
|
|
(3,838)
|
|
|
(1,408)
|
|
|
(11,500)
|
|
|
(3,550)
|
|
|
Acquisitions related
expenses
|
(342)
|
|
|
(1,980)
|
|
|
—
|
|
|
(4,924)
|
|
|
—
|
|
|
Gain on business
combination
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3,443
|
|
Non-GAAP operating
expenses
|
$
|
68,475
|
|
|
$
|
67,466
|
|
|
$
|
45,051
|
|
|
$
|
204,142
|
|
|
$
|
136,444
|
|
Non-GAAP operating
expenses % to total revenue
|
38.2%
|
|
|
38.4%
|
|
|
36.0%
|
|
|
38.6%
|
|
|
38.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
|
|
|
September
30, 2016
|
|
June 30,
2016
|
|
September
30, 2015
|
|
September
30, 2016
|
|
September
30, 2015
|
Reconciliation of
GAAP income (loss) from operations to non-GAAP income from
operations:
|
|
|
|
|
GAAP income (loss)
from operations
|
$
|
4,928
|
|
|
$
|
(118)
|
|
|
$
|
13,859
|
|
|
$
|
6,662
|
|
|
$
|
36,662
|
|
GAAP operating income
% to total revenue
|
|
2.8%
|
|
|
(0.1)%
|
|
|
11.1%
|
|
|
1.3%
|
|
|
10.3%
|
|
|
Share-based
compensation expense
|
4,677
|
|
|
5,495
|
|
|
3,966
|
|
|
14,063
|
|
|
11,267
|
|
|
Amortization of
acquired intangibles
|
8,913
|
|
|
9,052
|
|
|
1,978
|
|
|
27,124
|
|
|
5,019
|
|
|
Acquisition
accounting impact related to deferred revenue
|
2,663
|
|
|
2,663
|
|
|
—
|
|
|
7,989
|
|
|
—
|
|
|
Inventory fair value
adjustments
|
920
|
|
|
920
|
|
|
—
|
|
|
2,761
|
|
|
—
|
|
|
Acquisitions related
expenses
|
386
|
|
|
2,207
|
|
|
—
|
|
|
5,195
|
|
|
—
|
|
|
Gain on business
combination
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,443)
|
|
Non-GAAP income from
operations
|
$
|
22,487
|
|
|
$
|
20,219
|
|
|
$
|
19,803
|
|
|
$
|
63,794
|
|
|
$
|
49,505
|
|
Non-GAAP operating
income % to total Non-GAAP revenue
|
12.5%
|
|
|
11.5%
|
|
|
15.8%
|
|
|
12.1%
|
|
|
14.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
GAAP net income (loss) to non-GAAP net income:
|
|
|
|
|
|
|
GAAP net income
(loss)
|
$
|
1,983
|
|
|
$
|
(1,159)
|
|
|
$
|
8,036
|
|
|
$
|
446
|
|
|
$
|
23,105
|
|
|
Share-based
compensation expense
|
4,677
|
|
|
5,495
|
|
|
3,966
|
|
|
14,063
|
|
|
11,267
|
|
|
Amortization of
acquired intangibles
|
8,913
|
|
|
9,052
|
|
|
1,978
|
|
|
27,124
|
|
|
5,019
|
|
|
Acquisition
accounting impact related to deferred revenue
|
2,663
|
|
|
2,663
|
|
|
—
|
|
|
7,989
|
|
|
—
|
|
|
Inventory fair value
adjustments
|
920
|
|
|
920
|
|
|
—
|
|
|
2,761
|
|
|
—
|
|
|
Acquisitions related
expenses(a)
|
783
|
|
|
3,002
|
|
|
—
|
|
|
6,387
|
|
|
—
|
|
|
Gain on business
combination
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,443)
|
|
|
Tax effect of the
adjustments above(b)
|
(5,047)
|
|
|
(5,942)
|
|
|
(775)
|
|
|
(16,820)
|
|
|
(1,703)
|
|
Non-GAAP net
income
|
$
|
14,892
|
|
|
$
|
14,031
|
|
|
$
|
13,205
|
|
|
$
|
41,950
|
|
|
$
|
34,245
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
GAAP net income (loss) per share - diluted to non-GAAP net income
per share - diluted:
|
|
|
Shares - diluted
GAAP
|
37,079
|
|
|
35,987
|
|
|
36,613
|
|
|
36,695
|
|
|
36,870
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares - diluted
Non-GAAP
|
37,079
|
|
|
36,649
|
|
|
36,613
|
|
|
36,695
|
|
|
36,870
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
(loss) per share - diluted
|
$
|
0.05
|
|
|
$
|
(0.03)
|
|
|
$
|
0.22
|
|
|
$
|
0.01
|
|
|
$
|
0.63
|
|
|
Share-based
compensation expense
|
0.13
|
|
|
0.15
|
|
|
0.11
|
|
|
0.38
|
|
|
0.31
|
|
|
Amortization of
acquired intangibles
|
0.24
|
|
|
0.25
|
|
|
0.05
|
|
|
0.74
|
|
|
0.14
|
|
|
Acquisition
accounting impact related to deferred revenue
|
0.07
|
|
|
0.07
|
|
|
—
|
|
|
0.22
|
|
|
—
|
|
|
Inventory fair value
adjustments
|
0.02
|
|
|
0.03
|
|
|
—
|
|
|
0.08
|
|
|
—
|
|
|
Acquisitions related
expenses(a)
|
0.02
|
|
|
0.08
|
|
|
—
|
|
|
0.17
|
|
|
—
|
|
|
Gain on business
combination
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.10)
|
|
|
Tax effect of the
adjustments above(b)
|
(0.13)
|
|
|
(0.17)
|
|
|
(0.02)
|
|
|
(0.46)
|
|
|
(0.05)
|
|
Non-GAAP net income
per share - diluted
|
$
|
0.40
|
|
|
$
|
0.38
|
|
|
$
|
0.36
|
|
|
$
|
1.14
|
|
|
$
|
0.93
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
GAAP net income (loss) to non-GAAP Adjusted EBITDA:
|
|
|
|
|
|
|
GAAP net income
(loss)
|
$
|
1,983
|
|
|
$
|
(1,159)
|
|
|
$
|
8,036
|
|
|
$
|
446
|
|
|
$
|
23,105
|
|
|
Share-based
compensation expense
|
4,677
|
|
|
5,495
|
|
|
3,966
|
|
|
14,063
|
|
|
11,267
|
|
|
Interest (income) and
expense, net
|
1,523
|
|
|
1,348
|
|
|
138
|
|
|
4,618
|
|
|
321
|
|
|
Depreciation and
amortization expense
|
14,702
|
|
|
14,724
|
|
|
6,482
|
|
|
43,899
|
|
|
18,457
|
|
|
Acquisition
accounting impact related to deferred revenue
|
2,663
|
|
|
2,663
|
|
|
—
|
|
|
7,989
|
|
|
—
|
|
|
Inventory fair value
adjustments
|
920
|
|
|
920
|
|
|
—
|
|
|
2,761
|
|
|
—
|
|
|
Acquisitions related
expenses(a)
|
783
|
|
|
3,002
|
|
|
—
|
|
|
6,387
|
|
|
—
|
|
|
Gain on business
combination
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,443)
|
|
|
Income tax
expense
|
224
|
|
|
(840)
|
|
|
5,177
|
|
|
(557)
|
|
|
11,922
|
|
Non-GAAP Adjusted
EBITDA (c)
|
$
|
27,475
|
|
|
$
|
26,153
|
|
|
$
|
23,799
|
|
|
$
|
79,606
|
|
|
$
|
61,629
|
|
|
|
(a)
|
Business combination
rules require us to account for the fair value of Property, Plant
and Equipment ("PPE") acquired in our purchase accounting. In
connection with the Aesynt acquisition, we recorded approximately
$0.3 million of additional depreciation expense related to the fair
value step-up of PPE in Q1, Q2, and Q3 2016, respectively.
As these costs represent the expense recognition of
fair value adjustments in excess of the historical cost basis of
PPE obtained through acquisition, these charges are outside the
control of those responsible for the underlying operations of the
business. In connection with Q3'16 and year-to-date Q3'16
presentation, we revised the previously disclosed Non-GAAP
measurements by $0.3 million for Q1 and Q2'2016, respectively, for
the impact of depreciation expense related to the fair value
step-up of PPE.
|
(b)
|
Tax effects
calculated for all adjustments except share-based compensation
expense, using the estimated annual effective tax rate of 38% for
fiscal year 2016.
|
(c)
|
Defined as earnings
before interest income and expense, taxes, depreciation and
amortization, share-based compensation expense, as well as
excluding certain non-GAAP adjustments.
|
Omnicell, Inc.
Segmented
Information
(Unaudited, in
thousands, except for percentages)
|
|
|
Three Months Ended
September 30, 2016
|
|
Three Months Ended
September 30, 2015
|
|
Automation
and Analytics
|
|
Medication Adherence
|
|
Total
|
|
Automation
and
Analytics
|
|
Medication Adherence
|
|
Total
|
|
|
|
|
Revenues
|
$
|
152,437
|
|
|
$
|
24,300
|
|
|
$
|
176,737
|
|
|
$
|
102,967
|
|
|
$
|
22,267
|
|
|
$
|
125,234
|
|
Cost of
revenues
|
77,828
|
|
|
17,401
|
|
|
95,229
|
|
|
45,668
|
|
|
15,863
|
|
|
61,531
|
|
Gross
profit
|
74,609
|
|
|
6,899
|
|
|
81,508
|
|
|
57,299
|
|
|
6,404
|
|
|
63,703
|
|
Gross margin
%
|
48.9%
|
|
|
28.4%
|
|
|
46.1%
|
|
|
55.6%
|
|
|
28.8%
|
|
|
50.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
49,123
|
|
|
6,137
|
|
|
55,260
|
|
|
30,628
|
|
|
6,070
|
|
|
36,698
|
|
Income from segment
operations
|
$
|
25,486
|
|
|
$
|
762
|
|
|
$
|
26,248
|
|
|
$
|
26,671
|
|
|
$
|
334
|
|
|
$
|
27,005
|
|
Operating margin
%
|
16.7%
|
|
|
3.1%
|
|
|
14.9%
|
|
|
25.9%
|
|
|
1.5%
|
|
|
21.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate
costs
|
|
|
|
|
21,320
|
|
|
|
|
|
|
13,146
|
|
Income from
operations
|
|
|
|
|
$
|
4,928
|
|
|
|
|
|
|
$
|
13,859
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Omnicell, Inc.
Segmented
Information
(Unaudited, in
thousands, except for percentages)
|
|
|
Nine Months Ended
September 30, 2016
|
|
Nine Months Ended
September 30, 2015
|
|
Automation
and Analytics
|
|
Medication Adherence
|
|
Total
|
|
Automation
and
Analytics
|
|
Medication Adherence
|
|
Total
|
|
|
|
|
Revenues
|
$
|
450,043
|
|
|
$
|
70,605
|
|
|
$
|
520,648
|
|
|
$
|
284,447
|
|
|
$
|
69,796
|
|
|
$
|
354,243
|
|
Cost of
revenues
|
233,401
|
|
|
47,777
|
|
|
281,178
|
|
|
123,923
|
|
|
47,470
|
|
|
171,393
|
|
Gross
profit
|
216,642
|
|
|
22,828
|
|
|
239,470
|
|
|
160,524
|
|
|
22,326
|
|
|
182,850
|
|
Gross margin
%
|
48.1%
|
|
|
32.3%
|
|
|
46.0%
|
|
|
56.4%
|
|
|
32.0%
|
|
|
51.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
151,108
|
|
|
17,518
|
|
|
168,626
|
|
|
85,195
|
|
|
18,321
|
|
|
103,516
|
|
Income from segment
operations
|
$
|
65,534
|
|
|
$
|
5,310
|
|
|
$
|
70,844
|
|
|
$
|
75,329
|
|
|
$
|
4,005
|
|
|
$
|
79,334
|
|
Operating margin
%
|
14.6%
|
|
|
7.5%
|
|
|
13.6%
|
|
|
26.5%
|
|
|
5.7%
|
|
|
22.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate
costs
|
|
|
|
|
64,182
|
|
|
|
|
|
|
42,672
|
|
Income from
operations
|
|
|
|
|
$
|
6,662
|
|
|
|
|
|
|
$
|
36,662
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Omnicell, Inc.
Segment
Information - Non-GAAP Gross Margin and Non-GAAP Operating
Margin
(Unaudited, in
thousands, except for percentages)
|
|
|
Three Months Ended
September 30, 2016
|
|
|
|
Automation
and Analytics
|
|
Medication Adherence
|
|
Total
|
|
Amount
|
|
% of
GAAP
Revenue
|
|
% of
Non-
GAAP
Revenue
|
|
Amount
|
|
% of
GAAP
Revenue
|
|
% of
Non-
GAAP
Revenue
|
|
Amount
|
|
% of
GAAP
Revenue
|
|
% of
Non-
GAAP
Revenue
|
Revenues
|
$
|
152,437
|
|
|
|
|
|
|
$
|
24,300
|
|
|
|
|
|
|
$
|
176,737
|
|
|
|
|
|
Acquisition
accounting impact related to deferred revenue
|
2,663
|
|
|
1.7%
|
|
1.7%
|
|
—
|
|
—%
|
|
—%
|
|
2,663
|
|
|
1.5%
|
|
1.5%
|
Non-GAAP
Revenues
|
$
|
155,100
|
|
|
|
|
|
|
$
|
24,300
|
|
|
|
|
|
|
$
|
179,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Gross
profit
|
$
|
74,609
|
|
|
48.9%
|
|
|
|
$
|
6,899
|
|
|
28.4%
|
|
|
|
$
|
81,508
|
|
|
46.1%
|
|
45.4%
|
Stock-based
compensation expense
|
511
|
|
|
0.3%
|
|
0.3%
|
|
117
|
|
|
0.5%
|
|
0.5%
|
|
628
|
|
|
0.4%
|
|
0.4%
|
Amortization expense
of acquired intangible assets
|
4,867
|
|
|
3.2%
|
|
3.1%
|
|
332
|
|
|
1.4%
|
|
1.4%
|
|
5,199
|
|
|
2.9%
|
|
2.9%
|
Acquisition
accounting impact related to deferred revenue
|
2,663
|
|
|
1.7%
|
|
1.7%
|
|
—
|
|
|
—%
|
|
—%
|
|
2,663
|
|
|
1.5%
|
|
1.5%
|
Inventory fair value
adjustments
|
920
|
|
|
0.6%
|
|
0.6%
|
|
—
|
|
|
—%
|
|
—%
|
|
920
|
|
|
0.5%
|
|
0.5%
|
Acquisitions related
expenses
|
44
|
|
|
—%
|
|
—%
|
|
—
|
|
|
—%
|
|
—%
|
|
44
|
|
|
—%
|
|
—%
|
Non-GAAP Gross
profit
|
$
|
83,614
|
|
|
|
|
53.9%
|
|
$
|
7,348
|
|
|
|
|
30.2%
|
|
$
|
90,962
|
|
|
|
|
50.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Operating
income
|
$
|
25,486
|
|
|
16.7%
|
|
|
|
$
|
762
|
|
|
3.1%
|
|
|
|
$
|
26,248
|
|
|
14.9%
|
|
|
Stock-based
compensation expense
|
1,952
|
|
|
1.3%
|
|
1.3%
|
|
264
|
|
|
1.1%
|
|
1.1%
|
|
2,216
|
|
|
1.3%
|
|
1.2%
|
Amortization expense
of acquired intangible assets
|
7,623
|
|
|
5.0%
|
|
4.9%
|
|
1,290
|
|
|
5.3%
|
|
5.3%
|
|
8,913
|
|
|
5.0%
|
|
5.0%
|
Acquisition
accounting impact related to deferred revenue
|
2,663
|
|
|
1.7%
|
|
1.7%
|
|
—
|
|
|
—%
|
|
—%
|
|
2,663
|
|
|
1.5%
|
|
1.5%
|
Inventory fair value
adjustments
|
920
|
|
|
0.6%
|
|
0.6%
|
|
—
|
|
|
—%
|
|
—%
|
|
920
|
|
|
0.5%
|
|
0.5%
|
Acquisitions related
expenses
|
133
|
|
|
0.1%
|
|
0.1%
|
|
|
|
—%
|
|
—%
|
|
133
|
|
|
0.1%
|
|
0.1%
|
Non-GAAP Operating
income
|
$
|
38,777
|
|
|
|
|
25.0%
|
|
$
|
2,316
|
|
|
|
|
9.5%
|
|
$
|
41,093
|
|
|
|
|
22.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Corporate
costs
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
21,320
|
|
|
12.1%
|
|
|
Stock-based
compensation expense
|
|
|
|
|
|
|
|
|
|
|
|
|
2,461
|
|
|
1.4%
|
|
1.4%
|
Acquisition-related
expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
253
|
|
|
0.1%
|
|
0.1%
|
Non-GAAP Corporate
costs
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
18,606
|
|
|
|
|
10.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Income
from operations
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
22,487
|
|
|
|
|
12.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Omnicell, Inc.
Segment
Information - Non-GAAP Gross Margin and Non-GAAP Operating
Margin
(Unaudited, in
thousands, except for percentages)
|
|
|
Three Months Ended
September 30, 2015
|
|
Automation
and Analytics
|
|
Medication Adherence
|
|
Total
|
|
Amount
|
|
% of
GAAP
Revenue*
|
|
Amount
|
|
% of
GAAP
Revenue*
|
|
Amount
|
|
% of
GAAP
Revenue*
|
Revenues
|
$
|
102,967
|
|
|
|
|
$
|
22,267
|
|
|
|
|
$
|
125,234
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Gross
profit
|
$
|
57,299
|
|
|
55.6%
|
|
$
|
6,404
|
|
|
28.8%
|
|
$
|
63,703
|
|
|
50.9%
|
Stock-based
compensation expense
|
403
|
|
|
0.4%
|
|
178
|
|
|
0.8%
|
|
581
|
|
|
0.5%
|
Amortization expense
of acquired intangible
assets
|
238
|
|
|
0.2%
|
|
332
|
|
|
1.5%
|
|
570
|
|
|
0.5%
|
Non-GAAP Gross
profit
|
$
|
57,940
|
|
|
56.3%
|
|
$
|
6,914
|
|
|
31.1%
|
|
$
|
64,854
|
|
|
51.8%
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Operating
income
|
$
|
26,671
|
|
|
25.9%
|
|
$
|
334
|
|
|
1.5%
|
|
$
|
27,005
|
|
|
21.6%
|
Stock-based
compensation expense
|
1,572
|
|
|
1.5%
|
|
303
|
|
|
1.4%
|
|
1,875
|
|
|
1.5%
|
Amortization expense
of acquired intangible
assets
|
902
|
|
|
0.9%
|
|
1,076
|
|
|
4.8%
|
|
1,978
|
|
|
1.6%
|
Non-GAAP Operating
income
|
$
|
29,145
|
|
|
28.3%
|
|
$
|
1,713
|
|
|
7.7%
|
|
$
|
30,858
|
|
|
24.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Corporate
costs
|
|
|
|
|
|
|
|
|
$
|
13,146
|
|
|
10.5%
|
Stock-based
compensation expense
|
|
|
|
|
|
|
|
|
2,091
|
|
|
1.7%
|
Non-GAAP Corporate
costs
|
|
|
|
|
|
|
|
|
$
|
11,055
|
|
|
8.8%
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Income
from operations
|
|
|
|
|
|
|
|
|
$
|
19,803
|
|
|
15.8%
|
|
* For the three
months ended September 30, 2015, there were no differences between
GAAP and non-GAAP revenues.
|
OMCL-E
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SOURCE Omnicell, Inc.