Omnicell, Inc. (NASDAQ:OMCL) Q4 2014 Earnings Conference Call - Final Transcript

Feb 03, 2015 • 04:30 pm ET

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Omnicell, Inc. (NASDAQ:OMCL) Q4 2014 Earnings Conference Call - Final Transcript

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Presentation
Operator
operator

Good afternoon. My name is Robin, and I will be your conference operator today. At this time, I would like to welcome everyone to the Omnicell's Fourth Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker remarks, there will be a question-and-answer session. (Operator Instructions) Thank you.

I would now like to turn your conference over to Mr. Rob Seim. You may begin your conference.

Executive
Rob Seim

Good afternoon and welcome to the Omnicell 2014 Fourth Quarter Results Conference Call. Joining me today is Randall Lipps, Omnicell Chairman, President and CEO. You can find our results in the Omnicell fourth quarter earnings press release posted in the IR section of our website at www.omnicell.com.

(Forward-Looking Cautionary Statements)

Finally, this conference call is the property of Omnicell Incorporated. Any taping, other duplication or rebroadcast without the expressed written consent of Omnicell is prohibited. Randy will first cover an update of our business today and then I'll cover our results for 2014 and our guidance for 2015. Following that -- following our prepared remarks, we'll take your questions.

Executive
Randall Lipps

Good afternoon. I'm very proud of our performance in the fourth quarter and all of 2014 and of our consistent track record over the past several years. For the quarter, we exceeded our guidance with record revenues and record orders, culminating in full-year product bookings performance of 364 million, 9 million above the upper end of our guidance. Q4 was the highest non-GAAP EPS, we have ever had, and the full year 2014 was also a company record in both revenues and earnings.

But the most compelling statistics are the ones that measure our performance over time. We have doubled the size of the company in the last five years from 222 million to 441 million and we have more than tripled our non-GAAP net profit from 14 million to 46 million. For nine consecutive years, we have received the top honors from KLAS, the prestigious third party rating organization. For 10 consecutive years, we have expanded our market share and one new thought leader customers every single quarter.

Most importantly, we are driving improved health care for everyone. Well, we are proud of what we've accomplished, we do not intend to stand still. I believe, Omnicell has more expansion opportunities now, than we have ever had before, and that we are well-positioned to take advantage of them with the same growth strategies that we have applied in the past. At Omnicell, our team is out to change the world by disrupting the cost of healthcare and dramatically improving outcomes to patients.

For example, according to New England Healthcare Institute, proper medication adherence can save 290 billion per year in the US alone. There are growing opportunities for Omnicell to impute innovative technologies that significantly improve effectiveness and are easy for our customers to adopt. Of our three growth strategies, our first strategy of differentiated products continues to attract new customers to adopt our award winning G4