Inverness Medical Innovations Inc. put some black ink on its balance sheet during the third quarter, logging a 22.1 percent increase in revenues compared with Q3 2008, largely on a jump in sales of its influenza diagnostic tests and contributions from acquisitions.
MassDevice Earnings Roundup
Cynosure’s Q3 sales plummet 53 percent as it slides to a loss
The credit crunch squeezed Cynosure Inc. hard during the third quarter, as sales of its cosmetic laser devices plunged, taking the Westford, Mass.-based company deep into the red.
Cynosure said sales plummeted 53 percent to $17.9 million during the three months ended Sept. 30, compared with $38.2 million during the same period last year. The drop pushed Cynosure to a $1.9 million net loss, compared with net income of $3.2 million during the 2008 third quarter.
Insulet’s Q3 sales rise, operating losses narrow as it up its full-year guidance
Insulet Corp. posted strong third-quarter results, with increased revenues and narrower operating losses, prompting the Bedford, Mass.-based firm to increase its full-year sales and earnings forecasts.
The insulin management system maker posted revenues of $18.7 million during the three months ended Sept. 30, up 85.3 percent compared with $10.1 million during the same period last year.
Idexx Labs boost Q3 sales and profits
Idexx Laboratories Inc. posted a 3 percent sales increase during the third quarter, though the recession continues to take a bite out of the veterinary products maker’s business compared with last year.
Idexx, which also makes testing products for water and milk, reported a $31.5 million profit on $259 million in sales for the three months ended Sept. 30, compared to a $26 million haul on $251 million in sales during the same period last year.
Kensey Nash posts Q1 sales and earnings declines
Kensey Nash Corp. posted sales and earnings declines during its fiscal 2010 first quarter as revenues from royalties slumped, leading it to cut its sales and earnings forecasts for the full year.
The Exton, Pa.-based medical device maker posted sales of $19.7 million during the three months ended Sept. 30, down 2 percent compared with $20.2 million during the same period last year. Net income slumped 7 percent to $4.9 million, down from $5.3 million during the first quarter of fiscal 2009.
Edwards Lifesciences’ Q3 earnings soar on hemodialysis sale to Baxter
Edwards Lifesciences Corp. managed to post whopping gains to its third-quarter net income, largely thanks to the sale of its hemodialysis product line to Baxter International.
The Irvine, Calif.-based medical devices monolith said it notched net income of $74 million on sales of $326 million during the three months ended Sept. 30, gains of 123.4 percent and 7.3 percent, respectively, over the same period last year.
Thermo Fisher lowers guidance after Q3 sales dip 2 percent
Thermo Fisher Scientific Inc. lowered its guidance for the full year after third-quarter sales dipped 2.2 percent and net income rose 1.4 percent.
The Waltham, Mass.-based lab instruments and supplies maker posted sales of $2.53 billion during the three months ended Sept. 26, compared with $2.59 billion during the same period last year. Net income rose to $221.2 million for the quarter, compared with $218.1 million during the the 2008 third quarter.
Zimmer beats the Street despite a 30 percent drop in Q3 profits
Third-quarter sales at Zimmer Holdings Inc. rose 2.4 percent and adjusted net earnings beat most Wall Street estimates, aided by the sale of selected equity holdings.
C.R. Bard’s Q3 sales rise 3 percent
C.R. Bard Inc. managed to post gains in sales and earnings during the third quarter, despite the weak dollar’ bite on its international sales, which took a 7 percent gain into negative territory.
The Murray Hill, N.J.-based medical devices giant said it posted net income of $129.5 million on sales of $637 million during the three months ended Sept. 30, compared with net income of $111.2 million on $616.8 million in sales during the same period last year. Those add up to an income gain of 16.5 percent and a sales gain of 3.3 percent.
St. Jude Medical’s Q3 sales rise 7 percent, but income falls on restructuring costs
Third-quarter sales for St. Jude Medical Inc. enjoyed a healthy 10 percent surge, but the St. Paul-based medical device giant’s Q3 net earnings dropped on a charge related to layoffs in its sales operation.
St. Jude posted net earnings of $166.9 million on sales of $1.16 billion during the three months ended Oct. 3, compared with $184.7 million in profits on sales of $1.08 billion during the 2008 third quarter.
Dollar woes add up to a modest Q3 gain for Stryker Corp.
A slumping dollar was just enough to keep Stryker Corp. sales from completely flat-lining during the third quarter.
The decline in the value of the U.S. dollar against other currencies worked to prop up otherwise flat sales for the orthopedic and surgical equipment manufacturer during the three months ended Sept. 30, resulting in a 1.2 percent quarterly increase in sales compared with year-ago results.
Stryker’s bottom line also benefited from a soft dollar, turning a modest $3 million gain in third-quarter net income into a 1.3 percent jump in profits.
