CardioNet, Inc. (BEAT) Tops Q1 EPS by 1c

CardioNet, Inc. (NASDAQ: BEAT) reported Q1 EPS of ($0.10), $0.01 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $27 million versus the consensus estimate of $27.24 million.

As of March 31, 2012, the Company had total cash and investments of $37.0 million compared to $46.5 million as of December 31, 2011, a decrease of $9.5 million. The significant cash uses during the first quarter 2012 included $6.3 million related to the acquisition of ECG Scanning, $1.4 million for capital expenditures and $1.3 million related to the settlement of the shareholder litigation. DSO increased slightly compared to year end 2011 to 81 days with the inclusion of ECG Scanning’s receivables.

For earnings history and earnings-related data on CardioNet, Inc. (BEAT) click here.

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