Epocrates files for another $75 million IPO

July 19, 2010 by MassDevice staff

Epocrates, a developer of mobile drug reference tools, registers for a $75 million initial public offering — again.

Epocrates Inc. plans to go public — again.

The company last week filed for an initial public offering that could bring in as much as $75 million, according to a Securities & Exchange Commission filing. Epocrates makes reference and interactive tools designed for both healthcare providers and patients for mobile platforms such as Google's (NSDQ:GOOG) Android or Apple's (NSDQ:AAPL) iPhone.

It's the second stab at an IPO for the San Mateo, Calif.-based company, which filed for a $75 million offering in 2008 before pulling it back as the economy cratered.

Epocrates will trade on the NASDAQ exchange under the ticker symbol EPOC, according to the filing.

The quest for funding comes at a time when Epocrates is planning to role out an electronic medical records application this fall.

Epocrates posted net sales of $24.3 million during the three months ended March 31, down 1.6 percent compared with $24.7 million during the same period last year. The company posted a net loss attributable to shareholders of $855,000, or 9 cents per diluted share, during the quarter, compared with net income attributable to shareholders of $1.1 million, or 9 cents per diluted share, during the prior year's quarter.

Here's a look at the company's net revenues and income (or loss) dating back to 2005 (in thousands):

	2005	2006	2007	2008	2009
Net revenues	$32,536	$49,517	$65,611	$83,345	$93,654
Net income (loss) available to common stockholders—diluted	$(6,648)	$(5,195)	$8,474	$1,840	$1,908