VISICU Reports First Quarter Results
biz.yahoo.com
Thursday April 26, 4:00 pm ET
Delivers Strong Revenue, Operating Income and EPS Growth
BALTIMORE--(BUSINESS WIRE)--VISICU, Inc. (Nasdaq:EICU), a healthcare information technology and clinical solutions company focused on transforming the delivery of care to the highest acuity patients in the hospital, today announced financial results for the first quarter of 2007. The company reported significantly higher revenue and operating income for the first quarter over the same quarter from the prior year:
* Revenue for the first quarter was $8.7 million, a 31% increase over the same quarter last year.
* Adjusted operating income in the first quarter increased 105% to $2.1 million, resulting in a 24% adjusted operating margin, from adjusted operating income of $1.0 million and an adjusted operating margin of 15% for the same quarter last year. Adjusted operating income and adjusted operating margin exclude non-cash stock-based compensation expense included in the GAAP results.
* GAAP operating income in the first quarter increased 212% to $1.4 million, resulting in a 16% operating margin, from GAAP operating income of $452,000 and operating margin of 7% for the same quarter last year. GAAP operating income includes non-cash stock-based compensation expense of $685,000 and $571,000 in the first quarter of 2007 and 2006, respectively.
* Net income for the first quarter of 2007 increased to $2.0 million, or $0.06 per diluted share, from $314,000, or $0.01 per diluted share last year.
* Total revenue backlog at the end of the first quarter amounted to $70.1 million.
"Not only am I pleased with our financial performance in the first quarter, but I am very excited about the rapid rate at which our customers continue to expand the eICU Program," said Frank Sample, Chairman and CEO of VISICU. "In order to capitalize on the continuing positive results our customers are experiencing, we are investing resources to enhance our sales and marketing efforts and our operating infrastructure to accelerate the rate of market adoption of the eICU Program." |
