Key Developments: WebMD Health Corp (WBMD.O)
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17 Jun 2013
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$29.97
$30.23
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$28.60
398,483
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$31.63
$13.13
Latest Key Developments (Source: Significant Developments)
MMRGlobal Inc Enters Into Agreement With WebMD Health Corp
MMRGlobal Inc announced that MyMedicalRecords, Inc., a wholly owned subsidiary of MMRGlobal, sued WebMD Health Corp. and WebMD Health Services Group, Inc. (collectively, WebMD) in federal district court for patent infringement. MMR has entered into a written agreement with WebMD to dismiss the case without prejudice to re-filing the same case again, in order to continue to try and resolve the matter without the timing constraints imposed by the lawsuit. As the dismissal is without prejudice, MMR retains the right to re-file the litigation at any time. The Company also announced that domestically, it has initiated service of patent infringement complaint recently filed against Jardogs LLC, a subsidiary of Allscripts, case number CV 13-3560. According to the complaint, Jardogs provides health information services to consumers and healthcare providers and Jardogs, while infringing on MMR's patent, also has induced others including Allscripts, distributors, agents, resellers and users to infringe one or more claims of the patent. Full Article
Webmd Health Corp Issues Q2 2013 Revenue Guidance Above Analysts' Estimates; Comments On Q2 2013 Earnings Guidance; Raises FY 2013 Guidance
Webmd Health Corp announced that for fiscal 2013, it expects revenue to be approximately $450 million to $470 million, adjusted EBITDA to be approximately $75 million to $88 million and net loss from continuing operations to be approximately $(13.0) million to $(1.5) million, or $(0.26) to $(0.03) per diluted share. For second quarter of 2013, it expects revenue to be in excess of $115 million, adjusted EBITDA to be in excess of 18% of revenue, net loss from continuing operations to be approximately 1% of revenue. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $445 million, EBITDA of $78 million and EPS of $(0.30) for fiscal 2013; revenue of $108 million, EBITDA of $17 million and EPS of $(0.08) for second quarter of 2013. Full Article
Webmd Health Corp Q1, FY 2013 Guidance Above Analysts' Estimates
Webmd Health Corp announced that for fiscal 2013, it expects revenue to be approximately $430 million to $455 million, adjusted EBITDA to be approximately $60 million to $80 million and net loss from continuing operations to be approximately $(22) million to $(7) million, or $(0.45) to $(0.13) per diluted share. For first quarter of 2013, it expects revenue to be in excess of $105 million, adjusted EBITDA to be in excess of 13% of revenue, net loss from continuing operations to be approximately 6% of revenue. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $422 million, EBITDA of $55 million and EPS of $(0.44) for fiscal 2013; revenue of $94 million, EBITDA of $5 million and EPS of $(0.22) for first quarter of 2013. Full Article
Webmd Health Corp Issues Q4 2012 Charge Guidance
Webmd Health Corp announced that it expects to record a pre-tax restructuring charge of approximately $6 million to $8 million in the fourth quarter of 2012 primarily for severance and other costs related to this cost reduction initiative. Full Article
Webmd Health Corp Streamlines Business
Webmd Health Corp announced a comprehensive program to streamline its operations, reduce costs and better focus its resources on increasing user engagement, improving customer satisfaction and driving innovation. WebMD expects these actions to result in a reduction in annualized operating expenditures of approximately $45 million, including the impact of a workforce reduction of approximately 250 positions, or roughly 14% of the Company's employees. While most of the workforce reductions will be effective at the end of this year, other cost savings actions will be implemented over the course of the first quarter of 2013. WebMD will continue to provide patients, consumers and physicians with an unmatched breadth of trusted content and valuable tools across its multi-screen platform. Full Article
Webmd Health Corp Issues FY 2012 Guidance; Net Loss Guidance Above Analysts' Estimates; Issues Q4 2012 Guidance
Webmd Health Corp announced that for fiscal 2012, it expects revenue of $455 to $475 million, adjusted EBITDA to be $60.0 to $70.0 million; and loss from continuing operations is expected to be $(21.9) to $(14.6), net loss is expected to be $(19.2)-$(11.9) and loss per share of $(0.38)-$(23). For the fourth quarter of 2012, it expects revenue to be between $118 million to $133 million, adjusted EBITDA as a percentage of revenue is forecasted to be approximately 14% to 20% and (Loss) income from continuing operations as a percentage of revenue is to be approximately (5%) to 2%. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $462 million, EBITDA of $63.2 million and net income of $(19.7) million for fiscal 2012; and revenues of $126 million, EBITDA of $22.7 million and net income of $(0.41) million for the fourth quarter of 2012. Full Article
WebMD Health Corp. Lowers FY 2012 Guidance; Issues Q3 2012 Guidance; Revenue Guidance Below Analysts' Estimates
WebMD Health Corp. announced that based on current visibility into the second half of this year, WebMD has updated its financial guidance for fiscal 2012 and expects revenue of $455 million to $480 million, adjusted EBITDA of $60 million to $75 million; and loss from continuing operations of $(12.4) million to $(23.4) million. WebMD's prior financial guidance for fiscal 2012, as last disseminated on May 1, 2012, was: revenue of $500 million to $535 million, adjusted EBITDA of $100 million to $125 million; and net income of $2.8 million to $19.9 million. For the third quarter of 2012, WebMD expects revenue of $115 to $120 million, adjusted EBITDA is expected to be approximately 13% to 15% of revenue; and loss from continuing operations is expected to be approximately 3% to 5% of revenue. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $502 million, EBITDA of $105 million and net income of $4.4 million for fiscal 2012; and revenues of $129 million, EBITDA of $30.6 million and net income of $4.09 million for the third quarter of 2012. Full Article
WebMD Health Corp. Appoints Cavan M. Redmond As New Chief Executive Officer
WebMD Health Corp. announced that Cavan M. Redmond has been appointed as new Chief Executive Officer and as a member of Board of Directors, effective May 31, 2012. Anthony Vuolo, Chief Financial Officer, who has also served as interim Chief Executive Officer since January 2012 while the Board of Directors conducted a search for a permanent CEO, will continue in the position of Chief Financial Officer. Full Article
WebMD Health Corp. Reaffirms FY 2012 Revenue And EBITDA Guidance; Raises FY 2012 Net Income And EPS Guidance; Issues Q2 2012 Guidance Below Analysts' Estimates
WebMD Health Corp. announced that for fiscal 2012, it expects revenue to be approximately $500 million to $535 million, adjusted EBITDA to be approximately $100 million to $125 million and net income to be approximately $2.8 million to $19.9 million, or $0.05 to $0.37 per diluted share (EPS). For the second quarter of 2012, the Company expects revenue to be between $110 million and $115 million, adjusted EBITDA as a percentage of revenue to be approximately 10% to 12% and net loss as a percentage of revenue is forecasted to be approximately 4% to 6%. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $507 million, EBITDA of $106 million, net income of $2.8 million and EPS of $0.06 for fiscal 2012; and revenues of $124 million, EBITDA of $21.3 million and net income of $(1.96) million for the second quarter of 2012. Full Article
WebMD Health Corp. Announces Preliminary Results Of Tender Offer
WebMD Health Corp. announced the preliminary results of its tender offer to repurchase up to $150 million of its common stock through a modified Dutch auction tender offer, which expired at 5:00 p.m., New York City time, on April 3, 2012. In accordance with the terms and conditions of the tender offer, WebMD expects to acquire 5,769,230 shares of its common stock at a price of $26.00 per share, for an aggregate cost of $150 million, excluding fees and expenses relating to the tender offer. These shares represent approximately 10.15% of WebMD's currently outstanding common stock. Based on the preliminary count by American Stock Transfer & Trust Company, LLC, the Depositary for the tender offer, approximately 18 million shares of WebMD's common stock were properly tendered and not properly withdrawn at or below the purchase price of $26.00 per share. Based upon the preliminary count by the Depositary of shares tendered, WebMD estimates that the pro-ration factor will be approximately 33%. Promptly after such announcement, the Depositary will issue payment for the shares validly tendered and accepted under the tender offer and will return all other shares tendered. It is currently expected that payment for all shares purchased will be made on or about April 10, 2012. Full Article
WebMD CEO Redmond leaving; company reports narrower loss
- WebMD Health Corp said Chief Executive Cavan Redmond will be leaving the health information provider, less than a year after the former Pfizer Inc executive was appointed to turn around the company's fortunes.
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