Hanger Orthopedic Group (NYSE:HGR) posted preliminary fourth-quarter sales of $205 million and announced it’s relocation from Bethesda, Md., to Austin, Texas:
MassDevice Earnings Roundup
Stryker Corp. (NYSE:SYK) closed 2009 on a high note, according to its preliminary sales figures, with revenues rising nearly 7 percent during the three months ended Dec. 31.
The Kalamazoo, Mich.-based medical device maker said sales for the full year were flat, rising 0.1 percent to $6.72 billion compared with 2008. Stryker’s deal with Acacia Research Corp. (NSDQ:ACRI) subsidiary Hospital Systems Corp. to license the latter’s medical picture archiving and communication system technology resulted in the settlement of a patent infringement lawsuit — and a net gain of $43 million for Stryker.
Contract research lab Parexel International Corp. (NASQ:PRXL) boosted its forecast for the three months ended Dec. 31, 2009, and for calendar 2010, reversing downbeat predictions made in October.
The Boston-based contract research organization is now saying it expects to report net earnings of between $3.5 million and $4.6 million on revenues of up to $285 million during the second quarter. It also issued its initial forecast for calendar 2010, predicting profits of between $35 million and about $40.5 million on between $1.115 billion and $1.145 billion in revenues for the 12-month period.
Analogic Corp. (NSDQ:ALOG) posted lower sales and earnings during the first quarter, but its medical technology business clawed its way toward last year’s levels. Analogic also settled a dispute with an activist investor group and inked a new deal for its security business.
The Peabody, Mass.-based imaging equipment maker posted sales of $95.4 million for the three months ended Oct. 31, down 6.1 percent compared with $101.6 million during the same period last year. Net income plummeted 91.9 percent to $26 million, from $320 million during Q1 2009.
Cantel Medical Corp. (NYSE:CMN) posted first-quarter sales of $71 million for the three months ended Oct. 31, up 10.2 percent compared with $64.4 million during the same period last year. Net income rose 85 percent to $6.2 million, compared with $3.3 million during Q3 2008:
Cantel Medical Reports 85% Increase in Net Income – EPS of $0.37 vs. $0.20 – for Quarter Ended October 31, 2009 on 10% Sales Increase
Sales for Optos plc (LSE:OPTS) slid 3.6 percent during fiscal 2009, to $97.2 million, but its strategy to boost pay-per-patient revenues continued to gain traction even as it posted a net loss for the year.
The British retinal imaging firm, which has operations in Marlborough, Mass., said its pay-per-patient revenues for the fiscal year ended Sept. 30 rose 2 percent to $93.5 million, compared with $91.7 million during the same period last year, as it developed its strategy to shift from large capital equipment sales.
Medtronic Inc. (NYSE:MDT) posted net earnings of $868 million on sales of $3.84 billion during the second quarter, compared with net earnings of $547 million in $3.57 billion in sales during the same period last year.
Outside the U.S., sales grew 12 percent to $1.54 billion, or 40 percent of total revenues.
The Minneapolis-based medical device monolith said its Q2 2010 results for the three months ended Oct. 30 were strong enough for it to upgrade its earnings guidance for the full year. Medtronic said it expects diluted earnings-per-share of between $3.17 and $3.22 for fiscal 2010, up from its previous forecast of $3.10 to $3.20.
SeraCare Life Sciences Inc. (SRLS) posted its second profitable quarter in a row to close out fiscal 2009, but net losses for the full year still widened by nearly 30 percent.
The Milford, Mass.-based life sciences service provider reported sales of $12.5 million during the three months ended Sept. 30, up 9.5 percent compared with $11.4 million during the same period last year. Fourth-quarter net income was $1.4 million, compared with a net loss of $10.4 million during Q4 2008.
Cardiovascular Systems Inc. (CSI) posted first-quarter sales of $15.2 million for the three months ended Sept. 30, up 30.5 percent compared with $11.6 million during the same period last year. The St. Paul, Minn.-based cardiovascular device maker narrowed its net losses from $13.7 million during the first quarter of fiscal 2009 to $6.2 million during Q1 2010:
Cardiovascular Systems Reports Fiscal First-Quarter 2010 Financial Results
First-Quarter Net Loss Improves 55 Percent Over Prior Year on 30-Percent Revenue Increase, Gross Margin Improvements and Expense Control
Misonix Inc. (MSON) posted first-quarter sales of $2.7 million for the three months ended Sept. 30, down 12.6 percent compared with $3.1 million during the same period last year. The Farmingdale, N.Y.-based ultrasound device maker swung into the red for Q1 2010, posting a net loss of $776,000 compared with net income of $320,000 during Q1 2009:
Misonix Reports First Quarter Fiscal 2010 Financial Results
Pacific Biometrics Inc. (PBME) posted first-quarter sales of $2.3 million for the three months ended Sept. 30, up 27.5 percent compared with $1.8 million during the same period last year. But net losses also soared for the Seattle-based biomarker developer, to $273,000 compared with $6,000 during the first quarter of fiscal 2009: