Omnicell says 3rd-qtr profit slides sharply as product sales tumble
By APThursday, October 22, 2009
Omnicell 3Q profit falls as sales slide
MOUNTAIN VIEW, Calif. — Omnicell Inc., which makes pharmacy-management systems and other devices, said Thursday its third-quarter profit fell sharply as product sales declined as health care firms remained cautious on equipment spending.
The company, based in Mountain View, Calif., earned $854,000, or 3 cents per share, in the quarter that ended Sept. 30. That’s down from $2.9 million, or 9 cents per share, in the year-ago period.
Excluding $4.2 million in costs to issue stock options to workers, adjusted profit totaled 10 cents per share in the latest period, meeting a consensus estimate of analysts polled by Thomson Reuters.
Revenue slipped 16 percent to $54 million from $64.3 million, but still topped analysts’ $53 million average forecast.
Omnicell shares rose 25 cents to close at $11 on Thursday.
