Second-quarter sales and earnings may have slipped for Swedish medical device maker Getinge AB (STO:GETI B), but that hasn’t stopped it from issuing an ambitious plan to boost its profits.
Getinge reported net profit of $76.8 million (484 million SEK), or 32 cents (2.03 SEK) per share, on sales of about $787.3 million (4.96 billion SEK) for the three months ended June 30. That’s a bottom-line slide of 1.2 percent, compared with the $77.7 million (490 million SEK) profit Getinge posted during Q2 2010, and a 12.1 percent top-line decline.
"From a geographic perspective, the orders received by the group during the quarter developed as expected in relation to business development during the corresponding quarter in the preceding year, with the exception of Extended Care’s activities in the U.K.," the company said in a press release. "Despite the uncertainty characterizing demand in some of the group’s principal markets, demand and growth are still expected to improve in 2011."
Maybe that’s why Getinge, having reached its goal for earnings before interest, tax and amortization growth last year, is hoping to boost EBITA still more, to 22 percent from 20 percent, by 2014.
"While all business areas are expected to improve their EBITA margins, compared with previous target levels, the group does not plan to specify any EBITA margin objectives at the business area level. Other financial objective for earnings growth, organic growth and cash flow remain unchanged," according to the press release.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent news, check out our Earnings Roundup, where we collect each quarter’s reports. Here’s a quick rundown of a few recent releases:
Cantel touts 18% boost in Q3 net income, record sales
Cantel Medical Corp (NYSE:CMN) reported $5.1 million in net income, or 29 cents per diluted share, for its third quarter ended April 30, 2011, an 18 percent jump from last year’s $4.4 million, or 25 cents per diluted share. Sales hit a record high at more than $82.6 million, 24 percent higher than third quarter 2010’s sales.
The Little Falls, N.J.-based maker of infection prevention and control products raked in $15.7 million during the first nine months of the fiscal year for 2011, which translates to 91 cents per diluted share, on $235.6 million in sales. That compares to income of $15.3 million, 90 cents per diluted share, on sales of $204.1 for the nine months ended April 20, 2010.
The Salt Lake City-based hypothermia and ablation treatment system maker posted losses of $818,000, or 3 cents per share, on sales of $1.7 million for the three months ended May 31. That compares with losses of $2.4 million, or 10 cents per share, on sales of $124,000 during Q3 2010.
Synergetics’ Q3 losses double on 6 percent sales bump
Synergetics USA Inc. (NSDQ:SURG) doubled its net losses and boosted its top line by 6 percent during its fiscal third quarter.
The O’Fallon, Mo.-based microsurgery device maker posted profits of $1.6 million, or 7 cents per share, on sales of $14.7 million during the three months ended April 30. That compares with profits of $3.3 million, or 13 cents per share, on sales of $13.9 million during Q3 2010.
Vision-Sciences’ strong Q4 can’t rescue FY2011
Vision-Sciences Inc. (NSDQ:VSCI) managed to post a 61.1 percent top-line surge during its fiscal fourth quarter, but the late year surge wasn’t enough to salvage the Orangeburg, N.Y.-based endoscopic device maker’s fiscal 2011 results.
Vision-Sciences reported net losses of $3.8 million, or 9 cents per share, on sales of $3.2 million for the three months ended March 31. That’s compared with losses of $3.6 million, also 9 cents per share, on sales of $2.0 million during the same period last year.
For the full year, VSCI pared losses nearly 5 percent, to $11.8 million (31 cents per share) on sales of $10.9 million. Fiscal 2010 losses were $12.4 million (34 cents per share) on sales of $10.8 million.
Cyberonics’ Q4, 2011 profits plunge despite top-line growth
Profits for Cyberonics Inc. (NSDQ:CYBX) plunged both the fourth quarter and the full year, despite healthy top-line growth during both periods.
The Houston-based epilepsy treatment maker logged net income of $7.4 million, or 26 cents per diluted share, on sales of $51.1 million during the three months ended April 29. That’s a 36 percent bottom-line shave, compared with $11.6 million, or $41 cents per diluted share, on sales of $47.7 million.
For the full year, Cyberonics posted profits of $46.7 million, or $1.64 per diluted share, on sales of $190.5 million – a net income decrease of 40.4 percent compared with $78.4 million, or $2.67 per diluted share, on a top line of $167.8 million.
The Boulder, Colo.-based laparoscopic device maker said it pulled in $35,000, or 1 cent per share, on sales of $2.9 million during the three months ended March 31. That’s compared with a $94,000, or 1 cent a share, loss on sales of $3.2 million during the same period last year.
For fiscal 2011, Encision reported profits of just $5,000 (no cents per share) on sales of $11.6 million, a nearly 100 percent bottom-line decline from the $265,000 (4 cents per share) on a top line of $12.8 million.