Medication and supply chain management software vendor Omnicell Inc. ended a tough 2009 with lower profit and revenue during the fourth quarter.
The Mountain View, Calif.-based company had fourth quarter net income of $600,000, compared with $3.3 million in profit during the last quarter of 2008. Quarterly revenue fell 12% to $54.7 million. Fourth quarter revenue was slightly better than the third, and Omnicell expects continued growth in 2010, says Randall Lipps, president and CEO. During the quarter, Omnicell secured first-order contracts from Carolinas Health System, Cox Health and New York-Presbyterian.
For all of 2009, the company had net income of $400,000, compared with $12.7 million in 2008. Annual revenue fell 15% to $213.5 million. More information is available at omnicell.com.
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