SOMERSET, N.J., Jan. 12, 2015 (GLOBE NEWSWIRE) — MTBC (Nasdaq:MTBC), a leading provider of proprietary, web-based electronic health records, practice management and mHealth solutions, today announced preliminary 4Q2014 and FY2014 revenue and provided preliminary guidance for 2015.
Total revenue for the three months ended December 31, 2014 is expected to be approximately $7.1 million, resulting in preliminary full year 2014 revenue of $18.3 million.
The company anticipates 2015 full-year revenue of at least $30 million, excluding any acquisitions that may occur during the year. MTBC is on track to reach 30% Adjusted EBITDA margins from the existing business during the second half of 2015.
As the Company has not completed its quarter and year-end fiscal close and the audit of its 2014 financial statements is not complete, the revenue expectations presented in this press release are preliminary, and, therefore, subject to final year-end closing adjustments and may change. The preliminary financial results presented in this release are based solely upon information available as of the date of this release, are not a comprehensive statement of our financial results or positions as of or for the 2014 fiscal year. Our Independent Registered Public Accounting Firm, Deloitte & Touche LLP, has not audited, reviewed, compiled or performed any procedures, and will not express an opinion or any form of assurance with respect to this guidance.
MTBC also announced that the company will release the results for its fiscal year ended December 31, 2014 before the market opens on Friday, March 27, 2015. MTBC will hold a conference call for investors on March 27 at 8:30 a.m. EDT during which management will review highlights from the company’s 2015 results, its business outlook and other matters.
About Medical Transcription Billing, Corp.
Medical Transcription Billing, Corp. 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.
This press release contains forward-looking statements within the meaning of the federal securities laws. 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 “may,” “might,” “will,” “should,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to: our ability to manage our growth; our ability to retain customers of the businesses we acquire and to migrate those customers to our solutions and services; our ability to compete with other companies that are developing and selling services that are competitive with our products and services and who may have greater resources and name recognition than we do; our ability to maintain our operations in Pakistan and continue to offer competitively priced products and services; market acceptance of our products and services; changes in the healthcare industry and the changing regulatory environment we operate in; our ability to attract and retain personnel, including the services of Mahmud Haq; our ability to protect or enforce our intellectual property rights; our ability to maintain and protect the privacy of our customers’ and their patients’ data. Moreover, we operate in a very competitive and rapidly changing regulatory environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements contained in this press release.
CONTACT: Investor Contact: Bob East / Asher Dewhurst Westwicke Partners MTBC@Westwicke.com 443-213-0500