Omnicell Reports Strong Q3 Revenue and Pro... ( MOUNTAIN VIEW Calif. Oct. 18 /- O...)

Omnicell Reports Strong Q3 Revenue and Profit Growth

Date:10/18/2007

MOUNTAIN VIEW, Calif., Oct. 18 /PRNewswire-FirstCall/ -- Omnicell, Inc. (Nasdaq: OMCL), a leading provider of system solutions to acute healthcare facilities, today announced results for its third quarter ended September 30, 2007.

GAAP results: Revenues for the third quarter of 2007 totaled $55.2 million, up $3.3 million or 6.4% from second quarter 2007 revenue of $51.8 million, and up $13.9 million or 33.8% from the third quarter of 2006.

Third quarter 2007 net income as reported in accordance with U.S. generally accepted accounting principles (GAAP) was $6.9 million, or $0.19 per fully diluted share. Third quarter net income compares to net income of $18.1 million, or $0.55 per fully diluted share in the second quarter of 2007, including $12.8 million of income tax benefits related to the partial reversal of our tax valuation allowance in the second quarter of 2007; and $3.1 million, or $0.11 per fully diluted share in the third quarter of 2006. For the first nine months of 2007, net income was $29.0 million, or $0.88 per fully diluted share, of which $0.39 is represented by the same $12.8 million of income tax benefits related to the partial reversal of our tax valuation allowance in the second quarter of 2007. This compares to net income of $6.3 million or $0.22 per fully diluted share for the first nine months of 2006. Product backlog grew to $140.6 million, up $9.1 million from the quarter ended June 30, 2007.

Non-GAAP results: Excluding the impact on our results of recording $2.8 million in share-based compensation expenses related to SFAS No. 123R, non- GAAP net income was $9.8 million for the quarter ended September 30, 2007, or $0.27 per fully diluted share. This compares to non-GAAP income
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