Inogen (NASDAQ: INGN) reported Q4 EPS of $0.19, versus $0.07 reported last year. Revenue for the quarter came in at $40.4 million, versus $29.1 million reported last year.

Updated Financial Outlook for 2016

The Company is updating its financial guidance for 2016 as provided on November 30, 2015 as follows:

Revenue is expected to range from $187 to $191 million, which represents year-over-year growth of 17.6% to 20.1%. This compares to the previous guidance of $177 to $183 million. The Company continues to expect total revenue headwind from Medicare competitive bidding national roll-out of 2.5 – 3.5% in 2016.

Adjusted EBITDA is expected to be $37 to $39 million, representing an increase of 14.6% to 20.7% over 2015. This compares to the previous guidance of $35 to $37 million.

Adjusted net income is expected to be $12 to $14 million, representing 19.8% to 39.8% growth over 2015.

Net income is expected to be $12 to $14 million, representing 3.6% to 20.8% growth over 2015. This compares to the previous guidance of $11 to $13 million. The tax benefit adjustments in 2015 of $1.6 million are not expected to recur in 2016. Inogen expects an effective tax rate in 2016 of approximately 35% compared to an effective tax rate of 32.0% in 2015, excluding the tax benefit adjustments. Inogen expects a higher effective tax rate primarily due lower tax deductions for equity compensation as a percentage of pre-tax income which is not expected to have as much impact on the 2016 effective tax rate as it did in 2015. The Company also expects a higher effective tax rate in the first half of 2016 versus the second half of 2016.

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