Biotelemetry, Inc. Reports Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Tax Rate Guidance for the Full Year 2017
For the nine months, the company reported total revenues of $195,033,000 against $154,375,000 a year ago. Income from operations was $5,549,000 against $14,621,000 a year ago. Loss before income taxes was $673,000 against income of $12,935,000 a year ago. Net loss was $642,000 or $0.01 per basic and diluted share against net income of $12,989,000 or $0.43 per diluted share a year ago. Adjusted income from operations was $21,624,000 against $20,465,000 a year ago. Adjusted net income attributable to the company was $18,104,000 or $0.55 per share against $18,833,000 or $0.62 per share a year ago. Adjusted income before taxes was $18,434,000 against $18,779,000 a year ago. Cash provided by operating activities was $10,661,000 against $26,405,000 a year ago. Capital expenditures were $11,940,000 against $8,507,000 a year ago. Adjusted EBITDA was $42,335,000 against $34,841,000 a year ago.
While the company realized a tax benefit in the quarter, the company expects its full year 2017 actual cash tax payments to be approximately $1.0 million. Represents the tax effect of the non-GAAP adjustments based on the estimated annual effective tax rate of 35%.