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SEC
10-Q
BIOTELEMETRY, INC. filed this Form 10-Q on 10/31/2018
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BIOTELEMETRY, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

 
Three Months Ended
 
Nine Months Ended
(in thousands, except per share data)
September 30,
2018
 
September 30,
2017
 
September 30,
2018
 
September 30,
2017
Revenues
$
100,013


$
81,023

 
$
295,869

 
$
195,033

Cost of revenues
37,276

 
31,954

 
109,329

 
77,088

Gross profit
62,737

 
49,069

 
186,540

 
117,945

Operating expenses:
 
 
 
 
 
 
 
General and administrative
26,325

 
25,320

 
81,785

 
55,603

Sales and marketing
10,120

 
9,719

 
32,535

 
25,051

Bad debt expense
5,157

 
3,768

 
16,911

 
8,975

Research and development
2,429

 
3,277

 
8,451

 
8,225

Other charges
1,330

 
8,152

 
11,623

 
14,542

Total operating expenses
45,361

 
50,236

 
151,305

 
112,396

Income/(loss) from operations
17,376

 
(1,167
)
 
35,235

 
5,549

Other expense:
 
 
 
 
 
 
 
Interest expense
(2,408
)
 
(1,841
)
 
(6,982
)
 
(2,622
)
Loss on extinguishment of debt

 
(543
)
 

 
(543
)
Loss on equity method investment
(54
)
 
(106
)
 
(238
)
 
(302
)
Other non-operating income/(expense), net
(194
)
 
658

 
543

 
(2,755
)
Total other expense
(2,656
)
 
(1,832
)
 
(6,677
)
 
(6,222
)
Income/(loss) before income taxes
14,720

 
(2,999
)
 
28,558

 
(673
)
Benefit from income taxes
1,281

 
435

 
2,923

 
31

Net income/(loss)
16,001

 
(2,564
)
 
31,481

 
(642
)
Net loss attributable to noncontrolling interest

 
(279
)
 
(946
)
 
(279
)
Net income/(loss) attributable to BioTelemetry, Inc.
$
16,001

 
$
(2,285
)
 
$
32,427

 
$
(363
)
 
 
 
 
 
 
 
 
Net income/(loss) per common share attributable to BioTelemetry, Inc.:
 
 
 
 
 
 
 
Basic
$
0.48

 
$
(0.07
)
 
$
1.00

 
$
(0.01
)
Diluted
$
0.45

 
$
(0.07
)
 
$
0.91

 
$
(0.01
)
Weighted average number of common shares outstanding:
 
 
 
 
 
 
 
Basic
33,003

 
31,897

 
32,488

 
29,682

Dilutive stock options and restricted stock units
2,915

 

 
3,078

 

Diluted
35,918

 
31,897

 
35,566

 
29,682

See accompanying Notes to Consolidated Financial Statements.

5

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