Stock Monitor: Akers Biosciences Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 14, 2017 / Active-Investors free earnings report on Insulet Corp. (NASDAQ: PODD) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=PODD. The Company posted its financial results on November 02, 2017, for the third quarter fiscal 2017. The medical device Company's revenue and EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:
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Active-Investors.com is currently working on the research report for Akers Biosciences, Inc. (NASDAQ: AKER), which also belongs to the Healthcare sector as the Company Insulet. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/?symbol=AKER
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Insulet most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
www.active-investors.com/registration-sg/?symbol=PODD
Earnings Highlights and Summary
For three months ended September 30, 2017, Insulet's revenue increased 28.4% to $121.78 million from $94.87 million in Q3 FY16. The Company's revenue surpassed analysts' expectations of $114.41 million.
For the reported quarter, the Company's US Omnipod revenue increased 17% to $70 million on a y-o-y basis and the national revenue increased 70% to $32.5 million on a y-o-y basis. During Q3 FY17, the Company's drug delivery revenue increased 19% to $19 million on a y-o-y basis.
During Q3 FY17, Insulet's gross profit increased 32.3% to $73.62 million from $55.64 million in the same period last year. For the reported quarter, the Company's gross margin increased 180 basis points to 60.5% of revenue from 58.7% of revenue in the third quarter of last year. The increase was due to improved manufacturing and operational performance.
For the reported quarter, the Company's total operating expenses increased 34.5% to $71.58 million from $53.22 million in Q3 FY16. The increase was due to increased headcount to support the growth in business, such as increased investment in product innovation and commercial and operational infrastructure.
During Q3 FY17, Insulet's operating income decreased 15.3% to $2.05 million from $2.42 million in the same period last year. For the reported quarter, the Company's operating margin decreased 90 basis points to 1.7% of revenue from 2.6% of revenue in the third quarter of last year.
During Q3 FY17, Insulet's EBT was negative $2.11 million compared to negative $2.95 million in the same period last year.
For the reported quarter, Insulet's net loss was $2.23 million compared to net loss of $3.02 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS was negative $0.04 compared to negative $0.05 in the same period last year. Diluted EPS surpassed analysts' expectations of negative $0.10.
Balance Sheet
As on September 30, 2017, Insulet's cash, cash equivalents, and short-term investments decreased 7.6% to $275.76 million from $298.57 million on December 31, 2016. The decrease was due to capital expenditures, primarily associated with investments in US manufacturing project, and other investments in global supply chain and contract manufacturing operations to supply the significant growth of business. For the reported quarter, the Company's long-term debt, net of discount increased 3.7% to $344.95 million from $332.77 million in Q4 FY16
For the reported quarter, the Company's net accounts receivable increased 63.8% to $47.17 million from $28.80 million in Q4 FY16. For the reported quarter, the Company's accounts payable increased 117.7% to $28.65 million from $13.16 million in the fourth quarter of 2016.
Outlook
For Q4 FY17, the Company expects revenue to be in the range of $123 million to $126 million.
For FY17, the Company expects revenue to be in the range of $456 million to $459 million and gross margin to be 60%.
Stock Performance Snapshot
December 13, 2017 - At Wednesday's closing bell, Insulet's stock slightly dropped 0.04%, ending the trading session at $70.07.
Volume traded for the day: 388.27 thousand shares.
Stock performance in the last month – up 2.65%; previous three-month period – up 18.44%; past twelve-month period – up 87.00%; and year-to-date – up 85.96%
After yesterday's close, Insulet's market cap was at $4.08 billion.
The stock is part of the Healthcare sector, categorized under the Medical Instruments & Supplies industry. This sector was up 0.3% at the end of the session.
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