One site for Breaking News, Politics, Sports, Entertainment & more!

Newz Chooze
Back

Vocera Communications Inc. shares plummeted in after-hours trading Thursday following an earnings report that predicted a large decline in the first quarter and slowing growth for the full year. The company, which provides mobile communications systems for hospitals and was valued at more than $1.2 billion at the end of trading Thursday, reported fourth-quarter losses of $1.1 million, or 4 cents a share, on sales of $48.9 million, up from $44.1 million a year ago. After adjustments for stock compensation and other factors, the company claimed profit of 18 cents a share. Analysts on average expected adjusted profit of 18 cents a share on sales of $49.8 million, according to FactSet. However, Vocera predicted that first-quarter revenue would fall between $32 million and $35 million and adjusted losses would be 22 cents a share or higher, after the company posted adjusted earnings of 4 cents a share on sales of $40.2 million in the first quarter last year. Analysts on average had been expecting adjusted earnings of 6 cents a share on sales of $45.7 million. For the full year, Vocera predicted adjusted earnings of 36 cents to 48 cents a share and revenue of $187 million to $197 million, which would mean a reduction in annual profit and a slowdown in revenue growth year-over-year. Analysts on average were predicting full-year adjusted earnings of 65 cents a share on revenue of $205.6 million, according to FactSet. Shares fell almost 20% in after-hours action immediately following the report's release, after closing with a 1.8% decline at $39.69. Shares have gained 41.4% in the past year, as the S&P 500 index has increased 1.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.