This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Epocrates Reports 2010 Fourth Quarter And Full-Year Financial Results And Provides 2011 Outlook

An investor presentation summarizing the company's fourth quarter of 2010 results is available in the Investor Relations section of the Epocrates website at .

Outlook for Full-Year 2011 

Epocrates expects full-year 2011 net sales to be in the range of $122 million to $125 million, representing growth of 17% to 20% over full-year 2010. Epocrates expects 2011 adjusted EBITDA of 16% to 17% of sales, or $19.5 million to $21.5 million. This would represent an increase in adjusted EBITDA of 15% to 27% over the adjusted EBITDA reported in 2010. In addition, full-year 2011 net income is expected to be in the range of $3.0 million to $4.0 million, and net income per diluted share is expected to be between $0.12 and $0.15, based on approximately 26.0 million shares outstanding.

Post Year End Events

On February 7, 2011, Epocrates closed its initial public offering by issuing 3,574,285 shares of its common stock at $16.00 per share, raising approximately $53.2 million net of underwriters' discounts and commissions. In addition, the underwriters exercised their over-allotment option on an additional 804,000 shares, raising approximately $11.9 million more for the company, net of underwriters' discounts and commissions. From these proceeds, aggregate cumulative dividends to the holders of Epocrates' Series B preferred stock were paid in full, in the amount of approximately $29.6 million. 

As a result of its initial public offering, Epocrates has strengthened its balance sheet. At February 2011 month end, Epocrates held approximately $89.9 million in cash, cash equivalents and short-term investments and no debt. At the end of February 2011, Epocrates had approximately 23.4 million shares issued and outstanding.

Earnings Call Information

Epocrates will host a conference call today beginning at 8:30 a.m. Eastern Time to review its 2010 fourth quarter results and full-year operating results and future outlook, followed by a question and answer session. 

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.08 -1.20%
FB $117.48 -0.49%
GOOG $704.87 1.30%
TSLA $210.75 -5.30%
YHOO $37.07 3.00%


Chart of I:DJI
DOW 17,641.02 -19.69 -0.11%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs