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Cynosure’s sales slide as expected in Q1

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The good news for Cynosure Inc. is that it beat its first-quarter guidance.

The bad news for the Westford-based cosmetic laser firm is the 61 percent revenue plunge it posted for the three months ended March 31, slightly more than the 60 percent decrease it predicted.

First-quarter sales fell to $14.8 million, down from $36.7 million during the first quarter of 2008. The drop was enough to reverse a net gain of $4.8 million during the first three months of 2008 into a $4 million loss for the quarter.

Exact Sciences posts immense Q1 sales increase, but net loss jumps more than 50 percent

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Exact Sciences Corp. managed to increase its first-quarter sales by nearly 1,861 percent (mostly on the strength of a deal with Genzyme Corp.), but still saw its net loss widen 52 percent.

The Marlborough-based molecular diagnostics firm, which is developing tests for colorectal cancer, posted sales of $1 million for the three months ended March 31, compared with $51,000 during the same period last year.

NMT Medical’s Q1 sales slump 28 percent

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Sales and earnings continued to slide for NMT Medical Inc., as its hospital customers scaled back inventories in response to the down economy.

The Boston cardiac implant maker posted sales of $3.48 million for the three months ended March 31, down 27.9 percent compared with the same period last year.

NMT’s quarterly net loss widened by 2.2 percent, reaching $3.8 million compared with $3.9 million during the first quarter of 2008.

Company officials chalked up the slide to hospitals reducing their inventories, taking longer to re-order NMT’s non-invasive cardiac repair products and thereby lengthening its sales cycle.

Flat is the new up

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“Flat is the new up these days.”

That was the word from Ernst & Young analyst Richard Ramko to the 320 attendees at this morning’s 13th annual MassMEDIC conference.

During a preliminary review of the consulting firm’s look at the medical device sector, “Pulse of the Industry,” Ramko said companies that manage to keep sales and earnings flat are doing well, given the economic realities.

“Companies are facing a lot of tough decisions,” Ramko told the audience at Boston’s John F. Kennedy Presidential Library & Museum. “It’s just a challenging time.”

Hologic takes a very tangible, $2.3 billion Q2 hit

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Hologic Inc. posted a massive second-quarter loss after taking a $2.34 billion write-down of goodwill and intangible assets on its acquisitions of Cytyc and Third Wave Technologies.

THe Bedford-based women’s health products maker’s stock slipped more than 10 percent in after-hours trading today, to $14 per share, after posting a high of $15.72 during the day.

Haemonetics spreads the wealth

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Haemonetics Corp. plans to reward its employees after posting record sales and earnings for the fourth quarter and fiscal 2009.

The Braintree firm, which makes a suite of products for blood banking and blood management, posted $152.4 million in fourth-quarter sales, up 10 percent compared with $138.7 million during the same period last year.

Net income for the three months ended March 29 reached $13.9 million, a 1 percent uptick compared with $13.7 million during the fourth quarter of 2008.

Is “Obama style” healthcare reform real?

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Congress last week approved President Barack Obama’s budget, and in doing so eased the path for passage of healthcare reform, one of his administration’s principal domestic initiatives. The Senate Finance Committee is getting down to the hard work of actually writing the healthcare reform bill that will, possibly by early summer, be the focal document for debate on the issue. Building on a series of roundtable discussions with key stakeholders and months of concentrated staff effort, the committee met in executive session April 29 to begin the process of selecting among alternative ideas.

Haemonetics fails to impress Wall Street, despite impressive Q4 numbers

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Haemonetics Corp. plans to buy back more than $40 million worth of its own stock in a move to boost its share price.

Who could blame them? Strong year-end earnings and sales failed to impress Wall Street, where the Braintree blood management company’s stock dropped more than 10 percent today in early-morning trading following the earnings announcement. Shares were down more than $5 before a slight lunchtime rebound.

Harvard Bioscience’s income surges 168 percent despite revenue slide

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Harvard Bioscience Inc. managed a neat trick during the first quarter, posting a major boost in net income even as sales slid 13 percent.

The Holliston laboratory instruments maker’s first-quarter sales fell to $19.1 million, compared with $22 million during the same period last year. But net income soared to $1.8 million, compared with $687,000 during the first quarter of 2008 — a 168 percent increase.

CEO Chane Graziano said the company’s long-term goal is to double sales and profits over the next three to five years by focusing on streamlining operations, introducing new products and hitting the acquisitions trail.

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