Conceptus (NSDQ:CPTS) shares hit a yearlong high last week after the medical device company swung from red ink to black for the 4th quarter and 2012.
The Mountain View, Calif.-based women’s health firm posted profits of $5.9 million, or 17¢ per share, on sales of $40.7 million for the 3 months ended Dec. 31, 2012, compared with losses of $2.6 million during Q4 2011. Sales grew 21.5% year-to-year.
For the full year, Conceptus logged profits of $5.4 million, or 16¢ per share, on sales of $140.7 million, compared with 2011 losses of $7.9 million and for top-line growth of 10.8%.
The news sent the company’s shares up more than 6% last week. CPTS shares peaked at $23.85 apiece Feb. 6 before closing at $22.80 apiece, up 7.0% on the day. The stock closed Feb. 8 at $22.62 per share..
"We are excited about 2013, and our guidance reflects our anticipation that we will complete the execution improvements in our commercial operations started last year. In addition, our business may benefit from several important tailwinds this year, and we hope to position ourselves to take full advantage of the favorable environment," CEO Keith Grossman said in prepared remarks.
Conceptus said it expects to post sales of $155 million to $159 million this year, for growth of 10%-13% over 2012. Adjusted earnings before interest, taxes, depreciation & amortization are predicted to be between $34 million and $37 million, up 21%-31% over 2012 EBIDTA.
The company is still pursuing a permanent injunction against rival Hologic (NSDQ:HOLX) in a long-running patent infringement battle.