Omnicell, Inc. (NASDAQ:OMCL) Q4 2017 Earnings Conference Call Transcript

Feb 01, 2018 • 04:30 pm ET

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Omnicell, Inc. (NASDAQ:OMCL) Q4 2017 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good afternoon. My name is Erica, and I will be your conference operator today. At this time, I would like to welcome everyone to the Omnicell Fourth Quarter Earnings Announcement. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session.

(Operator Instructions)

Thank you, Mr. Peter Kuipers, Chief Financial Officer. You may begin your conference.

Executive
Peter J. Kuipers

Thank you. Good afternoon, and welcome to the Omnicell fourth quarter 2017 results conference call. Joining me today is Randall Lipps, Omnicell Founder, Chairman, President and CEO.

This call will include forward-looking statements subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. For a more detailed description of the risks that impact these forward-looking statements, please refer to the information in our press release today, in the Omnicell Annual Report on Form 10-K filed with the SEC on February 28, 2017, and in other more recent reports filed with the SEC.

Please be aware that you should not place undue reliance on any forward-looking statements made today. The date of this conference call is February 1, 2018, and all forward-looking statements made on this call are made based on the beliefs of Omnicell as of this date only. Future events or simply the passage of time may cause these beliefs to change.

Finally, this conference call is the property of Omnicell, Inc., and any taping, auto duplication or rebroadcast without the express written consent of Omnicell, Inc. is prohibited.

Randall will first provide an update on our business, then I will cover our results for the fourth quarter of 2017, our full-year 2017 and discuss our guidance for 2018. Our fourth quarter financial results are included in our earnings announcement, which was released earlier today and is posted in the Investor Relations section at omnicell.com. Our prepared remarks will also be posted in the same section.

Let me turn the call over to Randall.

Executive
Randall A. Lipps

Good afternoon, everyone. The fourth quarter of 2017 was a good quarter, rounding off of successful year for the company. Although this quarter's revenue was slightly below guidance, profitability came in above consensus. We have created a strong foundation for 2018, with a record number of multi-million-dollar deals, significant market share gains, record year-end product backlog and considerable momentum in innovation, positioning the company towards the $2 non-GAAP EPS mark. 2017 was an outstanding year for innovation and customer acquisition.

We are pleased with our progress and continuous innovation to build and expand the industry-leading medication management platform, with the goal of achieving the fully automated pharmacy. We started production of our innovative XT series in January last year, which received a great market response from customers, and we experience continued momentum from both existing and new customers.

In April, we announced the launch of AcuDose software on XT hardware, which allows our existing Aesynt customer base to fully take advantage of the XT Series. In the second quarter,