Earnings Call Excerpt
Omnicell, Inc. (OMCL)
Q1 2008 Earnings Call
April 22, 2008 4:30 pm ET
Executives
Randy Lipps - Executive Chairman, Chief Executive Officer and President
Rob Seim - Chief Financial Officer and Vice President of Finance.
Analysts
Steven Crowley – Craig-Hallum Capital
Tom Gallucci – Merrill Lynch
Newton Juhng – BB&T Capital Markets
Alan Fishman – Thomas Weisel Partners
Sean Wieland – Piper Jaffray
Leo Carpio - Caris
Presentation
Operator
I would like to welcome everyone to the Omnicell first quarter earnings conference call. (Operator Instructions) Thank you Mr. Seim, you may begin your conference.
Rob Seim
Thank you. Good afternoon and welcome to the Omnicell 2008 first quarter results conference call. Joining me today is Randall Lipps, Omnicell President and CEO. You can find our results in the Omnicell’s first quarter press release posted in the Investor Relations section of our website at www.omnicell.com.
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 under the heading ?Risk Factors? and under the heading ?Management's Discussion and Analysis of Financial Condition and Results of Operation? and the ?Omnicell Annual Report? on Form 10-K filed with the SEC on March 14th, 2008, as well as our more recent filings 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 April 21, 2008 and all forward-looking statements made on this call are made based on Omnicell's beliefs 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 Incorporated and any taping or the duplication or rebroadcast without the expressed written consent of Omnicell is prohibited.
During the call today, I will start with an overview of the financial results for the quarter, followed by Randy who will cover some of the quarter’s business highlights. I will then discuss Omnicell’s guidance for 2008. After that, we will open the call to your questions. In the first quarter of 2008, we again posted record revenues. Profits from operations were up from this time last year.
We did see some new and large orders slowdown towards the end of the quarter and we believe the rate in which orders are closing is being affected by conditions in the capital markets and the macroeconomic environment. While we had a very strong start to the first quarter, we saw some customers, particularly new customers, pause on the timing of their acquisition decisions towards the end of the quarter.
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