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Strategies & Market Trends : The New Economy and its Winners
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To: stockman_scott who wrote (50276)7/1/2009 10:05:26 AM
From: Bill Harmond  Read Replies (1) of 57684
 
01-Jul-09 01:24 ET In Play CardioNet lowers FY09 EPS and revenue guidance (16.32 ) : Co issues downside guidance for FY09 (Dec), sees EPS of $0.30-0.35, excluding non-recurring items, vs. $0.66 First Call consensus; sees FY09 (Dec) revs of $156.0-160.0 mln vs. $172.34 mln consensus. Co is revising its revenue guidance for FY09 to reflect growth of 30%-33% compared to FY08. Revenue guidance is based on lower than anticipated commercial reimbursement rates. Volume growth is expected to be somewhat lower than the co had anticipated. BEAT believes that the long-term outlook for its business and the wireless healthcare industry remains highly attractive, and CardioNet intends to continue its previously announced investments in its sales and marketing organization, product development and clinical research programs. Other areas of spending will be curtailed and restructured to partially offset the negative price and volume dynamics. Co states the majority of the impact affecting results occurs in 2H09. At this time, co is not in a position to provide revenue or earnings guidance for 2010 and 2011. Co may issue such guidance if greater certainty develops with respect to long-term reimbursement and physician adoption.
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