BOCA RATON, Fla., Oct. 27, 2006 (PRIMEZONE) -- StockMarketNewsAlert.com issues trade alert for VISICU, Inc. (Nasdaq:EICU), According to M. D'Alonzo at First Equity Group Inc., recent news flow from the company has been very positive, "The company announced financial results for the third quarter of 2006. The company reported significantly higher revenue and operating income for the third quarter over the same quarter from the prior year."
-- Revenue for the third quarter was $8.2 million, a 68% increase over the same quarter last year. Revenue for the nine months ended September 30, 2006 was $22.4 million, a 78% increase over the same period last year. -- Adjusted operating income for the third quarter increased to $2.5 million, resulting in a 30% adjusted operating margin, from adjusted operating income of $241,000 and an adjusted operating margin of 5% for the same quarter last year. Adjusted operating income and adjusted operating margin exclude non-cash stock-based compensation expense included in the GAAP results. -- GAAP operating income for the third quarter increased to $2.0 million, resulting in a 24% operating margin, from a GAAP operating loss of $(35,000) for the same quarter last year. GAAP operating income (loss) includes non-cash stock-based compensation expense of $461,000 and $276,000 in the third quarter of 2006 and 2005, respectively. -- Net income for the third quarter of 2006 was $2.5 million, or $0.07 per diluted share. Net income for the third quarter of 2005, including an income tax benefit of $11.3 million, was $11.4 million, or $0.42 per diluted share. -- Total revenue backlog at the end of the third quarter amounted to $72.4 million, a year-to-date increase of $2.2 million over December 31, 2005.
About VISICU, Inc.
VISICU, Inc. is a healthcare information technology and clinical solutions company transforming the delivery of critical care through its eICU Program. The eICU Program restructures the practice of critical care by using remote monitoring technology to allow systems to centralize scarce critical care trained staff to improve coverage and to allow intervention to prevent or manage crises. For more information, visit www.VISICU.com. VISICU(R) and eICU(R) are registered trademarks of VISICU, Inc. All rights reserved.
Safe Harbor Statement
This release contains forward-looking statements that are made pursuant to the provisions of Section 21E of the Securities and Exchange Act of 1934, as amended. These forward-looking statements involve a number of risks and uncertainties. Investors are cautioned that statements in this press release that are not strictly historical statements constitute forward-looking statements. It is important to note that the company's performance, and actual results, financial condition or business could differ materially from those expressed in the forward-looking statements. The words "outlook," "positions us," "guidance," "expects," "estimates," "intends," "plans," "projects," "anticipates," "believes" or the negative of these words, variations thereof or similar expressions are intended to identify such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: market acceptance of the company's principal product offering and any new product releases, the performance and reliability of our products and services, the company's ability to attract and retain new customers, renewal rates of the company's existing customers, financial and budget constraints of hospitals, changes in the company's or competitors' pricing practices, quarterly operating results may vary, stock price may be volatile, changes in the healthcare industry, the introduction or availability of competing products or services and other competitive factors, changes in the government regulation of our products and services, and the possibility of unfavorable outcomes in regulatory and legal proceedings relating to VISICU's patent that are pending currently or that could be initiated in the future. Additional discussion of these and other factors affecting the company's business is contained in the company's periodic filings with the Securities and Exchange Commission. The company undertakes no obligation to update forward-looking statements to reflect changed assumptions the occurrence of unanticipated events or changes in future operating results, financial condition or business over time.
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