Notable News Spotlight: BioTelemetry, Inc. (NASDAQ: BEAT)

On 08 Nov 2019, BioTelemetry, Inc. (BEAT) witnessed a gain of 2.34% in recent trading period with closing price of $44.55. The company’s last traded volume of 487811 shares vs to an average volume of 266.36K shares. The stock’s price added at 10.19% from 20-Days Simple Moving Average, surged at 10.32% from 50-Days Simple Moving Average and settled at -14.12% from 200 Days Simple Moving Average.  In the trailing 12 months period, return on assets ratio of the Company was 7.50% and return on equity ratio was 14.40% while its return on investment ratio was 9.80%.

BioTelemetry, Inc. (BEAT) recently stated results for the third quarter ended September 30, 2019.

Quarter Highlights

  • Recognized quarterly revenue of $111.3M
  • Reached 11.3% year-over-year revenue growth
  • Achieved 29thconsecutive quarter of year-over-year revenue growth
  • Stated GAAP net income of $8.3M
  • Realized quarterly adjusted EBITDA of $31.5M, or 28.3% of revenue

Third Quarter Financial Results

Revenue for the third quarter 2019 was $111.3M contrast to $100.0M for the third quarter 2018, a raise of $11.3M, or 11.3%.

Gross profit for the third quarter 2019 was $69.3M, or 62.3% of revenue, contrast to $62.7M, or 62.7% of revenue, for the third quarter 2018.

On a GAAP basis, net income attributable to BioTelemetry, Inc. for the third quarter 2019 was $8.3M, or $0.23 per diluted share, contrast to net income attributable to BioTelemetry, Inc. of $16.0M, or $0.45 per diluted share, for the third quarter 2018.  The decline in net income attributable to BioTelemetry, Inc. is primarily Because of a $4.7M increase in income tax expense, with a previous year tax benefit from discrete items, as well as the ongoing investments in our salesforce and technology.  While the Company’s predictable yearly effective tax rate is about 20%, as a result of the utilization of net operating loss carry-forwards, the Company expects to use about $1-2M of cash for taxes in 2019.

On an adjusted basis1, net income attributable to BioTelemetry, Inc. for the third quarter 2019 was $18.8M, or $0.52 per diluted share.  This compares to adjusted net income attributable to BioTelemetry, Inc. of $19.2M, or $0.53 per diluted share, for the third quarter 2018.  The impact of the ongoing investments in our sales-force and technology is being offset by the revenue growth.  The details regarding adjusted net income are included in the reconciliation tables included in this release.

The Company believes that providing non-GAAP financial measures offers a meaningful representation of our performance, as we exclude expenses that are not necessary to support our ongoing business.  We also make adjustments to facilitate year over year comparisons.  Please refer to our “Reconciliation of GAAP to Non-GAAP Financial Measures” in this release for additional information.

Beta factor, which measures the riskiness of the security, was registered at 1.31. In the profitability analysis, net profit margin of the firm was recorded at 11.10% and operating profit margin was calculated at 14.50% while gross profit margin was measured as 62.40%. Sales growth past 5 years was measured at 25.30%. EPS growth for this year is 559.80% and EPS growth for next year is expected to reach at 5.87%. EPS growth in past five years was 43.90% while EPS growth in next five years is projected to arrive at 25.00%.

 

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