Epocrates' adjusted EBITDA, as defined in Epocrates' final prospectus filed with the Securities and Exchange Commission in connection with its recent initial public offering, and in the GAAP to non-GAAP reconciliation provided later in this release, was $7.1 million, or 23% of revenue for the fourth quarter of 2010, compared to $8.2 million, or 30% of revenue, in the same period last year. The decline in adjusted EBITDA for the quarter was primarily attributable to the ongoing investment in the development of an EHR platform.For the year ended December 31, 2010, GAAP net income was $3.8 million, or $0.01 per diluted share, compared to $7.7 million, or $0.20 per diluted share, in 2009. The decline in net income for the year was primarily attributable to an increase in research and development investment and sales and marketing expenses related to the development of a new EHR platform and the development and launch of new products for the pharmaceutical industry.
Epocrates Reports 2010 Fourth Quarter And Full-Year Financial Results And Provides 2011 Outlook
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.