Stock under Consideration: IRadimed Corporation (NASDAQ: IRMD)

WINTER SPRINGS, Fla., June 24, 2019 – Shares of IRadimed Corporation (NASDAQ: IRMD) showed the bearish trend with a lower momentum of -2.84% to $21.18. The company traded total volume of 60.841K shares as contrast to its average volume of 58.35K shares. The company has a market value of $243.15M and about 11.48M shares outstanding.

IRadimed Corp. (IRMD) reported first-quarter profit of $1.80M.

For the first quarter ended March 31, 2019, the Company stated revenue of $8.40M contrast to $7.10M for the first quarter 2018. Net income was $1.80M, or $0.15 per diluted share, contrast to net income of $0.80M, or $0.07 per diluted share for the first quarter 2018. Gross profit margin was 75.7 percent, contrast to 76.2 percent for the first quarter 2018. Domestic sales were 83.8 percent of total revenue, contrast to 84.1 percent for the first quarter 2018. Revenue from sales of our 3880 MRI compatible patient vital signs monitoring system was $1.80M for the first quarter 2019 contrast to $1.20M for the first quarter 2018.

Non-GAAP net income was $1.60M for the quarter ended March 31, 2019, which excludes $0.30M of stock compensation expense, net of tax and a $0.60M reduction to non-GAAP net income resulting from an infrequent tax item related to excess tax benefits recognized in the provision for income taxes for the exercise and sale of certain incentive stock options. Non-GAAP net income for the quarter ended March 31, 2018 was $1.20M, which excludes $0.30M of stock compensation expense, net of tax. Non-GAAP earnings per diluted share was $0.13, contrast to $0.10 for the first quarter 2018. Free cash flow was $0.60M, contrast to $1.50M for the first quarter 2018.

As of March 31, 2019, the Company had combined cash and investments of $35.40M.

Financial Guidance:

The Company maintains its full year 2019 guidance and anticipates reporting revenue of $38.50M to $39.50M, GAAP diluted earnings per share of $0.60 to $0.64 and non-GAAP diluted earnings per share of $0.69 to $0.73.

For the second quarter 2019, the Company anticipates reporting revenue of $8.80M to $9.00M, GAAP diluted earnings per share of $0.11 to $0.12 and non-GAAP diluted earnings per share of $0.14 to $0.15.

The Company offered net profit margin of 23.00% while its gross profit margin was 76.20%. ROE was recorded as 17.90% while beta factor was 1.71. The stock, as of recent close, has shown the weekly upbeat performance of 5.85% which was maintained at -13.41% in this year.

Nurul Atikah

Finance and Tech Contributor

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