ICU Medical Inc. of San Clemente reported first-quarter results that beat analysts’ expectations and reaffirmed its 2012 financial outlook.
ICU makes disposable medical connectors and other devices, including some used to protect healthcare workers from cancer drugs.
The company posted a first-quarter profit of $7.6 million, which was down 6% from last year’s first quarter but beat analysts’ projection of $6.9 million.
First-quarter revenue was up 6% to $75.5 million, above Wall Street expectation of $74.6 million. ICU said that revenue was buoyed by a 30% revenue jump in its oncology products segment.
ICU reaffirmed its profit outlook of $35.1 million to $38.7 million for 2012.
Analysts on average expect the company’s 2012 profit to be $36.7 million.
ICU said it expects full-year revenue of $318 million to $330 million. Wall Street is looking for ICU’s 2012 revenue to come in at $321.9 million.