Business
Omnicell Reports First Quarter 2020 Results
GAAP and non-GAAP revenues of $229.7 million, up 13.4% year-over-year GAAP net income per diluted share of $0.26, up 225.0% year-over-year Non-GAAP net
About this update from Omnicell, Inc.
[{"type":"text","content":"\nGAAP and non-GAAP revenues of $229.7 million, up 13.4% year-over-year\nGAAP net income per diluted share of $0.26, up 225.0% year-over-year\nNon-GAAP net income per diluted share of $0.66, up 8.2% year-over-year\nOmnicell’s Response to Coronavirus (COVID-19)\n\n MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--\nOmnicell, Inc. (NASDAQ:OMCL), a leading provider of medication management solutions and adherence tools for healthcare systems and pharmacies, today announced results for its first quarter ended March 31, 2020.\n\n\nGAAP Results\n\n\nGAAP revenues for the first quarter of 2020 were $229.7 million, up $27.2 million, or 13.4% from the first quarter of 2019.\n\n\nFirst quarter 2020 GAAP net income was $11.3 million, or $0.26 per diluted share. This compares to GAAP net income of $3.3 million, or $0.08 per diluted share, for the first quarter of 2019.\n\n\nNon-GAAP Results\n\n\nNon-GAAP revenues for the first quarter of 2020 were $229.7 million, up $27.2 million, or 13.4%, from the first quarter of 2019.\n\n\nNon-GAAP net income for the first quarter of 2020 was $28.9 million, or $0.66 per diluted share. This compares to non-GAAP net income of $25.8 million, or $0.61 per diluted share, for the first quarter of 2019.\n\n\nNon-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, restructuring and severance-related expenses, tax restructuring benefits and expenses, and amortization of debt issuance costs.\n\n\nOmnicell’s Response to Coronavirus (COVID-19)\n\n\nKeeping in mind our role in the healthcare industry, we are closely monitoring the COVID-19 pandemic. Our top priorities are protecting the health and well-being of our customers, their patients, and our employees, while maintaining business continuity to meet the needs of our customers. Our manufacturing and distribution facilities have remained open due to our qualification as an essential business and we continue to manufacture our products with limited disruptions. The vast majority of our non-manufacturing and non-customer facing personnel have transitioned to a work from home environment.\n\n\nTo support the needs of our customers on the frontline of the pandemic, we have launched a Rapid Response program to fast-track production and deplo...