ICU Medical Inc., a San Clemente device maker, on Thursday posted third-quarter results that beat Wall Street expectations and upped its full-year outlook.
ICU earned $7.6 million for the quarter, up 62% from 2007’s third quarter.
Analysts expected ICU, which makes disposable needleless intervenous connection systems and products used in chemotherapy drug delivery, to make $5.9 million in the quarter.
Third-quarter revenue was up 22% to $54.7 million, above Wall Street expectations of $50.9 million.
For the full year, ICU said it expected to make $21.1 million to $21.9 million, up from an earlier forecast of $19.3 million to $20.7 million.
ICU said it now expects sales to come in at $199 million to $203 million, compared to an earlier view of $190 million to $200 million.
Wall Street had been expecting ICU to make $19.9 million on revenue of $196.8 million in 2008.
ICU shares closed up 6% with a market value of $385 million on Thursday and rose another 4% in afterhours trading.
