Courtesy of Benzinga.
Omnicell, Inc., (NASDAQ: OMCL) today announced updated guidance for its 2012 financial performance to reflect the closing of the acquisition of MTS Medication Technologies, Inc. on May 21, 2012.
Based on current projections, Omnicell now expects 2012 revenue to be between $307 million and $315 million. Non-GAAP diluted earnings per share are expected to be between $0.75 and $0.81 per share. Non-GAAP diluted earnings per share excludes stock based compensation and amortization of any acquired intangible assets as well as the step-up in inventory valuation associated with the acquisition of MTS Medication Technologies.
Non-GAAP diluted earnings per share also excludes direct expenses associated with closing the acquisition, which are estimated to be between $4.0 million and $4.5 million, most of which is expected to be recorded in the second quarter of 2012. Product backlog, which is the value of firm orders that have not yet completed installation, is expected to be between $138 million and $142 million and is comprised of Omnicell acute care medication and supply management products. It is currently expected that MTS Medication Technologies products will not materially change product backlog due to the heavy weighting of its revenue towards consumables.
In the second quarter of 2012, Omnicell expects revenue to be approximately $74 million and non-GAAP diluted earnings per share are expected to be between $0.17 and $0.18.
This update to guidance only represents the addition of MTS Medication Technologies to Omnicell. Omnicell has not changed any portion of its guidance for acute care medication or medical and surgical supply management products. Omnicell’s previous outlook for 2012, which did not include the acquisition of MTS Medication Technologies, was $263 million to $267 million of revenue and $0.67 to $0.72 non-GAAP diluted earnings per share. The forecast for year end product backlog has not changed.
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