Cardiac Science Q2 losses soar on recall costs

July 30, 2010 by MassDevice staff

Cardiac Science Corp. earnings take big dip due to an $11 million recall charge

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Cardiac Science Corp.'s (NSDQ:CSCX) $11 million in "corrective action costs" from a defibrillator recall hit the company hard during the second quarter.

The Bothell, Wash.-based company reported a net loss of $18.5 million, or 78 cents per diluted share, on sales of $36.1 million during the three months ended June 30, compared with a net loss of $2.1 million, or 9 cents per diluted share, on sales of $36.1 million during Q2 2009.

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