MTBC to Release 2015 Financial Results on March 24, 2016
SOMERSET, N.J., Jan. 22, 2016 (GLOBE NEWSWIRE) -- MTBC (Nasdaq:MTBC), a leading provider of proprietary, web-based electronic health records, practice management and mHealth solutions, today announced that the company will release the results for its fourth quarter and full year ended December 31, 2015 before the market opens on Thursday, March 24, 2016. MTBC will hold a conference call for investors on March 24 at 8:30 a.m. EST during which management will review highlights from the company's fourth quarter and full year 2015 results, its business outlook and other matters.
The call can be accessed by dialing 866-652-5200, or 412-317-6060 for international callers, and referencing “MTBC Fourth Quarter 2015 Earnings Call.” An audio webcast of the call will be available live and archived until June 30, 2016 on MTBC’s investor relations website at ir.mtbc.com.
A replay of the conference call will be available approximately one hour after conclusion of the call and will be accessible through June 30, 2016. The replay can be accessed by dialing 877-344-7529, or 412-317-0088 for international callers, and providing access code 10079843.
The Company reaffirmed its guidance for 2015 revenue of approximately $23 million, and reaffirmed its guidance for 2015 Adjusted EBITDA of ($750,000) – ($1 million).
The Company announced that it anticipates 2016 full-year revenue of $27 – $30 million, and it expects 2016 full-year Adjusted EBITDA of $1.5 million – $2.0 million.
“We are pleased to reiterate that MTBC’s fourth quarter results are in line with the expectations communicated during our November 12, 2015 earnings call, and that our preliminary fourth quarter 2015 Adjusted EBITDA, as well as our anticipated full year 2016 Adjusted EBITDA, will both be positive,” said Stephen Snyder, President. “We ended 2015 with approximately $8 million of cash, which has positioned us to continue to expand on our growth during 2016.”
About MTBC: (Nasdaq:MTBC)
MTBC is a healthcare information technology company that provides a fully integrated suite of proprietary web-based solutions, together with related business services, to healthcare providers practicing in ambulatory care settings. Our integrated Software-as-a-Service (or SaaS) platform helps our customers increase revenues, streamline workflows and make better business and clinical decisions, while reducing administrative burdens and operating costs. For additional information, please visit our website at www.mtbc.com.
Forward-Looking Statements
This press release contains various forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as "anticipate", "believe", "continue", "could", "estimate", "expect", "goals", "intend", "likely", "may", "plan", "potential", "predict", "project", "will" or the negative of these terms or other similar terms and phrases.
Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management's expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, increased sales and marketing expenses, and the expected results from the integration of our acquisitions.
Forward-looking statements are only current predictions and are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from those anticipated by such statements. These factors are including, but not limited to the company’s ability to manage growth; integrate acquisitions; effectively migrate and keep newly acquired customers and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in the forward-looking statements contained in this press release are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements.
The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Investor Contact: Bill Korn Chief Financial Officer Medical Transcription Billing, Corp. bkorn@mtbc.com 732-873-5133
Released January 22, 2016