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Omnicell Announces Third Quarter 2010 Results
Date:10/27/2010

MOUNTAIN VIEW, Calif., Oct. 27 /PRNewswire-FirstCall/ -- Omnicell, Inc. (Nasdaq: OMCL), a leading global provider of system solutions to acute healthcare facilities, today announced results for its third quarter ended September 30, 2010.

GAAP results: Revenue for the third quarter of 2010 was $56.3 million, up $1.6 million or 3% from the second quarter of 2010, and up $2.3 million or 4% from the third quarter of 2009.

Third quarter 2010 net income as reported in accordance with U.S. generally accepted accounting principles (GAAP) was $1.3 million, or $0.04 per diluted share. This compares to net income of $2.0 million, or $0.06 per diluted share in the second quarter of 2010, and net income of $0.9 million, or $0.03 per diluted share in the third quarter of 2009.

Non-GAAP results: Non-GAAP net income was $3.6 million for the third quarter of 2010, or $0.11 per diluted share. Non-GAAP net income excludes a charge of $1.7 million related to restructuring, reduction-in-force and other related charges primarily associated with the consolidation of our development facilities announced in July 2010. Also excluded is $0.6 million of non-recurring tax adjustments from the repatriation of profits from India associated with the facilities consolidation.  Total after tax charges excluded from GAAP income related to restructuring, reduction-in-force, and other related charges are $1.6 million. Non-GAAP net income also excludes a $2.4 million gain related to the settlement of litigation claims, and the tax on this gain of $1.0 million. The total after tax gain excluded from GAAP net income related to the settlement of litigation is $1.4 million. Also excluded from GAAP income is $2.2 million in stock compensation expense for the third quarter 2010. This compares to non-GAAP net income of $4.1 million, or $0.12 per diluted share for the second quarter
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SOURCE Omnicell, Inc.
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