BioTelemetry, Inc. (BEAT) has reported 95.22 percent plunge in profit for the quarter ended Mar. 31, 2017. The company has earned $0.20 million, or $0.01 a share in the quarter, compared with $4.10 million, or $0.14 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $4.94 million, or $0.16 a share compared with $5.88 million or $0.20 a share, a year ago.

Revenue during the quarter grew 14.89 percent to $55.88 million from $48.64 million in the previous year period. Gross margin for the quarter contracted 408 basis points over the previous year period to 58.89 percent. Total expenses were 95.83 percent of quarterly revenues, up from 90.68 percent for the same period last year. That has resulted in a contraction of 516 basis points in operating margin to 4.17 percent.

Operating income for the quarter was $2.33 million, compared with $4.53 million in the previous year period.

However, the adjusted operating income for the quarter stood at $5.60 million compared to $6.32 million in the prior year period. At the same time, adjusted operating margin contracted 298 basis points in the quarter to 10.02 percent from 13 percent in the last year period.

Joseph H. Capper, president and chief executive officer of BioTelemetry, Inc., commented: "The first quarter was a great start to what we expect will be a very successful year for BioTelemetry. We once again recognized record quarterly revenue and patient volume, realizing our 19th consecutive quarter of year over year revenue growth and achieving the high end of our first quarter guidance. Additionally, we realized adjusted EBITDA of $10.8 million, a 19.4% return, which is in line with our expectations, and includes the impact of targeted investments we are making aimed at driving future growth."