-- On Wednesday, after the close, Shared Medical reported 3Q99 EPS of $0.80, which met the consensus estimate and was one cent better than Warburg's projection. But it also warned of a shortfall ahead.
Meet estimates every thing should be okay, right?
Wronge, they got hammered today
DOWN 6 3/16 -14.69%
You need to read the financial report for 3rd QTR. It reads a lot like QMDC type stuff.
It scares me to think that they met estimates, same health care related issues that QMDC has, and got HAMMERED.
QMDC beat what the street was expecting for 3Q by maybe 20% and has ALREADY guided the street down to .03 or .04 for 4Q, which they will probably surpass a la Microsoft's long-held strategy of guiding analysts to the low side. This was Shared Medical's first formal warning, so perhaps QMDC is being clever here, and with over 2 million shares shorted --- or 10% of the float --- maybe the shorts will be screwed tomorrow trying to cover under $6.
RICHMOND, Calif., Oct 28, 1999 (BW HealthWire) -- QuadraMed Corporation (NASDAQ:QMDC) announced today results for its third quarter ended September 30, 1999. For the third quarter, the Company reported
earnings of $0.15 per diluted share, assuming a 40% tax rate.
For the three-month period ended September 30, 1999, total revenues increased to $62,057,000. For the quarter, the Company reported an 11%
sequential increase in license revenue. Net income during the quarter, which includes a charge of $1,722,000 for the write-off of acquired research and development in process, was $4,527,000. Diluted earnings
per share for the quarter were $0.18. Assuming a 40% tax rate and excluding the charge above, the Company reported net income of $3,895, 000, or $0.15 per diluted share.
For the comparable three-month period last year, total revenues were
$56,947,000. Including non-operating charges totaling $10,844,000, the Company reported a net loss of $3,366,000, or $0.14 per diluted share. Excluding the charges above, the Company reported net income of $5,399,
000, or $0.21 per diluted share using fully diluted shares of 25,286, 000. Financial results are restated to reflect historical pooling of interest transactions.
For the nine-month period ended September 30, 1999, total revenues increased to $179,733,000. Including non-operating charges totaling $37,
964,000, the Company reported a net loss of $14,620,000 or $0.59 per share. Excluding the above charges, the Company reported net income of $14,834,000 or $0.58 per share, assuming a 40% tax rate and using fully
diluted shares of 25,764,000.
For the comparable nine-month period during the previous year, total
revenues were $149,850,000. Including non-operating charges totaling $28,950,000, the Company reported a net loss of $27,752,000, or $1.23 per diluted share. Assuming a 40% tax rate and excluding the charges
above, the Company reported net income of $2,815,000, or $0.12 per share using fully diluted shares of 24,364,000.
Jim Durham, Chairman and Chief Executive Officer said. "We are pleased with our sustained contract signing activity and the prospects for 2000. During the quarter, we posted a sequential increase in license revenue for the first time in 1999. Our cross selling success continues, having sold once again, roughly 70 percent of our products and services into our existing customer base. We believe we are still
on track to generate cash from operations during the first quarter of 2000."
QuadraMed Corporation uses technology to transform disparate healthcare
data into valuable, enterprise-wide information. Providing and distributing meaningful information through its software, services and Internet solutions, Quadramed has enabled its 4,000 customers in the
U.S. and Canada to generate operational efficiencies, improve cash flow and measure the cost and quality of care. QuadraMed has implemented its product and service solutions in approximately 60% of the nation�s
The Company has a significant talent pool that--through its active participation in professional and trade organizations--has helped to shape the healthcare information technology industry. The Company has
substantial expertise in the core components stipulated within the HIPAA legislation spanning a wide range of products, services and education. These core components include security management across diverse applications and organizations, confidentiality in electronic
data transactions and development of health information policy, procedure management and readiness consulting services. For more information about QuadraMed, its products and services, visit
Well, much better than the guidance. Guidance was $.12-.15. QMDC posted $.18, before a $.03 charge. So either way you look at it it was a positive report. Either much better than expected, or at least at the upper end of the range. Cash flow positive in 1q of 2000. That is good news.