Rochester, NY 7/8/2009 3:54:05 AM
End of Day Report - BEAT - Lowered FY 2009 Guidance for Cardionet, Inc. - Sourced WhisperFromWallStreet.com
CardioNet, Inc.
End of Day Report - BEAT - Lowered FY 2009 Guidance for Cardionet, Inc. - Sourced WhisperFromWallStreet.com
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CardioNet, Inc.,BEAT
Cardionet Inc announced that for fiscal 2009, it is revising its revenue guidance to reflect growth of 30%-33% compared to fiscal 2008 and now expects revenue for fiscal 2009 to be in the range of $156 million to $160 million. The revenue guidance is based on lower than anticipated commercial reimbursement rates. The Company also announced that it is now expecting adjusted earnings per diluted share (EPS) for fiscal 2009 to be in the range of $0.30 to $0.35 excluding any impact of NOLs, other tax related items and any nonrecurring charges, with the majority of the impact affecting results in the second half of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenue of $170 million and EPS of $0.66 for fiscal 2009.
About
CardioNet, Inc. provides ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health in the United States. It offers Mobile Cardiac Outpatient Telemetry (MCOT) device, which incorporates a patient-worn sensor attached to electrodes that capture two-lead electrocardiogram (ECG) data and communicates wirelessly with a compact monitor that analyzes incoming information by applying proprietary algorithms designed to detect arrhythmias and eliminate data noise. Its MCOT device automatically transmits the ECG data to the CardioNet Monitoring Center, when the monitor detects an arrhythmic event. The company also offers Holter monitoring services that store an image of the electrical impulses of every heartbeat or irregularity in either digital format on an internal compact flashcard or in analog format on a standard cassette tape located inside the monitor; and event monitoring services to record and store approximately 540 seconds of ECG signal, as well as pacemaker monitoring services.
Last Trade: 9.12
Day's Range: 9.04 - 9.47
52wk Range: 9.00 - 35.89
Volume: 1,619,996
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