Revenue during the quarter grew 15.36 percent to $53.96 million from $46.77 million in the previous year period. Gross margin for the quarter expanded 80 basis points over the previous year period to 61.23 percent. Total expenses were 93.72 percent of quarterly revenues, up from 92.61 percent for the same period last year. That has resulted in a contraction of 111 basis points in operating margin to 6.28 percent.

Operating income for the quarter was $3.39 million, compared with $3.46 million in the previous year period.

However, the adjusted operating income for the quarter stood at $7.48 million compared to $5.06 million in the prior year period. At the same time, adjusted operating margin improved 305 basis points in the quarter to 13.87 percent from 10.82 percent in the last year period.

Joseph H. Capper, president and chief executive officer of BioTelemetry, Inc., commented: "2016 was an outstanding year for BioTelemetry. As a result of the effective execution of our strategic initiatives, we recorded record revenue, earnings and adjusted EBITDA, achieving the high-end of our fourth quarter guidance. Additionally, we continued our tradition of innovation and completed three acquisitions, gaining entree into exciting, new and large market opportunities. Moreover, we serviced more than 600,000 patients in 2016 alone, representing an almost 8% increase versus the prior year, with our mobile cardiac telemetry (“MCT”) volume experiencing double-digit growth. We also received a positive coverage decision from Anthem, the largest health insurer in the nation, for use of MCT for certain patients. Finally, we obtained FDA clearance on our next generation MCT device, setting the stage for sustained volume growth well into the future."