ICU Medical Beats EstimatesMonday, July 18, 2011
San Clemente-based device maker ICU Medical Inc. on Monday posted second-quarter financial results that surpassed Wall Street’s expectations and issued a mixed full-year outlook.
The maker of disposable medical connectors posted a profit of $9.5 million in the second quarter, up 23% from the year-ago quarter and beating analysts’ expectations of $8 million.
Revenue rose 13% to $77.8 million. Wall Street had looked for revenue of $74.2 million.
ICU also raised the lower end of its 2011 guidance.
The company now expects to post a profit of $33.5 million to $35.6 million, up from a previous range of $32.8 million to $35.6 million. Wall Street sees ICU’s 2011 profit coming in at $34.9 million.
But ICU said it sees full-year revenue at $297 million to $305 million, compared to an earlier forecast of $295 million to $305 million and below the consensus estimate of $306.7 million.