Orange County Business Journal

ICU Medical Beats on Q2 Earnings, Misses on Revenue

Vita Reed Monday, July 16, 2012

San Clemente-based ICU Medical Inc. reported mixed second-quarter results and issued in-line financial guidance on Monday.

The maker of needleless intravenous connectors and other medical devices posted a profit of $9.1 million. That was down 4% from 2011’s second quarter but above analysts’ expectations of $8.8 million.

Revenue was down 1% to $77.6 million. Wall Street expected ICU’s second-quarter revenue to total $78.1 million.

ICU also issued a full-year 2012 forecast.

The company sees 2012 profits coming in at $37.3 million to $39.5 million, compared to a previous forecast of $35.8 million to $39.5 million.

Wall Street expects ICU’s 2012 profit to be $37.7 million.

It said that it sees revenue of $318 million to $325 million, up from a prior forecast of $318 million to $330 million.

Analysts expect full-year revenue of $322 million.