Vocera Communications, Inc. (VCRA) saw its loss widen to $6.64 million, or $0.24 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $3.58 million, or $0.14 a share. On an adjusted basis, net loss for the quarter was $1.52 million, when compared with $0.85 million in the last year period. Revenue during the quarter surged 35.55 percent to $36.30 million from $26.78 million in the previous year period. Gross margin for the quarter contracted 517 basis points over the previous year period to 57.12 percent. Operating margin for the quarter stood at negative 17.84 percent as compared to a negative 13.65 percent for the previous year period.
Operating loss for the quarter was $6.47 million, compared with an operating loss of $3.66 million in the previous year period.
Adjusted EBITDA for the quarter stood at negative $0.56 million compared to negative $0.38 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 1.53 percent for the quarter compared to negative 1.44 percent in the last year period.
“Q1 was a great start to 2017 for Vocera. We delivered strong revenue growth that demonstrates the power of our integrated communication solution,” said Brent Lang, president and chief executive officer of Vocera. “Momentum in the business is continuing, with strategic new customer bookings, successful large-scale deployments and high customer loyalty."
For the second-quarter, Vocera Communications, Inc. forecasts revenue to be in the range of $36 million to $38 million. Vocera Communications forecasts revenue to be in the range of $154 million to $161 million for fiscal year 2017. Vocera Communications, Inc. projects net loss to be in the range of $8 million to $6.50 million for the second-quarter. For financial year 2017, Vocera Communications, Inc. projects net loss to be in the range of $22.60 million to $16.50 million. Vocera Communications expects adjusted net loss to be in the range of $2.10 million to $0.70 million for the second-quarter. For the financial year 2017, Vocera Communications, Inc. expects adjusted net income to be in the range of $0.50 million to $5.50 million. The company expects diluted loss per share to be in the range of $0.28 to $0.23 for the second-quarter. For fiscal year 2017, the company expects diluted loss per share to be in the range of $0.79 to $0.58. On an adjusted basis, the company expects diluted loss per share to be in the range of $0.08 to $0.03 for the second-quarter. For fiscal year 2017, the company expects diluted earnings per share to be in the range of $0.02 to $0.19 on adjusted basis.
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