MTBC to Announce Q1 2017 Financial Results and Host Conference Call on May 10, 2017
28 April 2017 - 10:34PM
Marketwired
SOMERSET, NJ-(Marketwired - Apr 28, 2017) - MTBC (NASDAQ: MTBC)
(NASDAQ: MTBCP), a leading provider of proprietary, web-based
electronic health records, practice management and mHealth
solutions, will release its first quarter financial results for the
three months ended March 31, 2017 before the market opens on
Wednesday, May 10, 2017. The Company will follow with a conference
call for investors on May 10 at 8:30 a.m. EDT to review highlights
of its quarterly results and discuss its business outlook and other
matters.
The call can be accessed by dialing 844-802-2438, or
412-317-5131 for international callers, and referencing "MTBC First
Quarter 2017 Earnings Call." An audio webcast of the call will be
available live and archived until September 30, 2017 on MTBC's
investor relations website at ir.mtbc.com.
A replay of the conference call will be available approximately
one hour after conclusion of the call and will be accessible
through September 30, 2017. The replay can be accessed by dialing
877-344-7529, or 412-317-0088 for international callers, and
providing access code 10105457.
Bill Korn, MTBC Chief Financial Officer, said: "We are pleased
to announce that, based on preliminary financial data, first
quarter revenue is expected to be approximately $8.2 million, which
is our second consecutive quarter with approximately 60%
year-over-year revenue growth. As we reduce expenses from our
October 2016 acquisition of MediGain, we anticipate that our first
quarter 2017 GAAP net loss will be significantly lower than in
fourth quarter of 2016, and that our non-GAAP adjusted EBITDA will
also show a significantly smaller loss." MTBC is confirming our
2017 guidance, summarized in the following table:
For the Fiscal Year Ending December 31, 2017
Forward Looking
Guidance
Revenue $30 - $31
million
Adjusted EBITDA $2.0 -
$2.5 millionThe Company anticipates full year 2017 revenue
of approximately $30 to $31 million, which represents growth of 22%
to 27% over 2016 revenue. We expect adjusted EBITDA to be $2.0 to
$2.5 million for full year 2017.
About MTBCMedical Transcription Billing, Corp. (MTBC) is a
healthcare information technology company that provides a fully
integrated suite of proprietary web-based solutions, together with
related business services, to healthcare providers practicing in
ambulatory care settings. Our integrated Software-as-a-Service (or
SaaS) platform helps our customers increase revenues, streamline
workflows and make better business and clinical decisions, while
reducing administrative burdens and operating costs. MTBC's common
stock trades on the NASDAQ Capital Market under the ticker symbol
"MTBC," and its Series A Preferred Stock trades on the NASDAQ
Capital Market under the ticker symbol "MTBCP."
For additional information, please visit our website at
www.mtbc.com.
Follow MTBC on TWITTER, LINKEDIN and FACEBOOK.
Use of Non-GAAP Financial MeasuresIn our earnings releases,
prepared remarks, conference calls, slide presentations, and
webcasts, we may use or discuss non-GAAP financial measures, as
defined by SEC Regulation G. The GAAP financial measure most
directly comparable to each non-GAAP financial measure used or
discussed, and a reconciliation of the differences between each
non-GAAP financial measure and the comparable GAAP financial
measure, are included in this press release after the condensed
consolidated financial statements. Our earnings press releases
containing such non-GAAP reconciliations can be found in the
Investor Relations section of our web site at ir.mtbc.com.
Forward-Looking StatementsThis press release contains various
forward-looking statements within the meaning of the federal
securities laws. These statements relate to anticipated future
events, future results of operations or future financial
performance. In some cases, you can identify forward-looking
statements by terminology such as "may," "might," "will," "should,"
"intends," "expects," "plans," "goals," "projects," "anticipates,"
"believes," "estimates," "predicts," "potential," or "continue" or
the negative of these terms or other comparable terminology.Our
operations involve risks and uncertainties, many of which are
outside our control, and any one of which, or a combination of
which, could materially affect our results of operations and
whether the forward-looking statements ultimately prove to be
correct. Forward-looking statements in this press release include,
without limitation, statements reflecting management's expectations
for future financial performance and operating expenditures,
expected growth, profitability and business outlook, increased
sales and marketing expenses, and the expected results from the
integration of our acquisitions.These forward-looking statements
are only predictions, are uncertain and involve substantial known
and unknown risks, uncertainties and other factors which may cause
our (or our industry's) actual results, levels of activity or
performance to be materially different from any future results,
levels of activity or performance expressed or implied by these
forward-looking statements. New risks and uncertainties emerge from
time to time, and it is not possible for us to predict all of the
risks and uncertainties that could have an impact on the
forward-looking statements, including without limitation, risks and
uncertainties relating to: the Company's ability to manage growth;
integrate acquisitions; effectively migrate and keep newly acquired
customers and other important risks and uncertainties referenced
and discussed under the heading titled "Risk Factors" in the
Company's filings with the Securities and Exchange Commission.The
statements in this press release are made as of the date of this
press release, even if subsequently made available by the Company
on its website or otherwise. The Company does not assume any
obligations to update the forward-looking statements provided to
reflect events that occur or circumstances that exist after the
date on which they were made.
SOURCE MTBC
Contact InformationCompany and Investor Contact:
Bill Korn
Chief Financial Officer
Medical Transcription Billing, Corp.
bkorn@mtbc.com
(732) 873-5133
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