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Home » Greatbatch tramples Wall Street estimates | Earnings Roundup

Greatbatch tramples Wall Street estimates | Earnings Roundup

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Greatbatch Inc. (NYSE:GB) shares are up today after the med-tech giant’s third-quarter earnings beat analysts’ expectations.

Clarance, N.Y.-based Greatbatch said third-quarter profits were $6.99 million, or 30 cents a share, on sales of $131 million for the three months ending Sept. 30, up 17.2 percent and 3.3 percent, respectively, compared with the same period last year.

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Excluding one-time items, adjusted EPS were 41 cents per share, topping Wall Street analysts’ forecast of 33 cents adjusted EPS.

"We are effectively navigating through the challenges in our core markets by remaining dedicated to our three strategic objectives: growing and diversifying our revenue base; driving operating performance; and delivering innovative solutions to our customers," said Thomas Hook, Greatbatch president & CEO in prepared remarks.

MassDevice.com Earnings Roundup

MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.

Here’s a quick rundown of a few releases over the past couple days:

ERT slides in third quarter
Device maker eResearch Technology Inc. (NASDAQ:ERT) saw a 26 percent drop in profits in the three months ended Sept. 30.

The Philadelphia, Penn.-based medical device maker posted a 2.9 percent decrease in sales to $25.9 million, compared to $21. million during the same period last year.

Company profits percent to $3.17 million, or 6 cents per diluted share, compared to $4.32 million, or 9 cents per diluted share in Q2 of 2010. Read more.

InSite Vision releases Q3 report
InSite Vision Inc. (OTC:INSV) was well into the green compared to 2010 numbers in the three months ended Sept. 30.

The Alameda Calif.-based vision technology company posted $1.5 million in profits, compared to a loss of $2.3 million during the same period last year. Read more.

Cardica loses big in first quarter
Cardica Inc. (NASDAQ:CRDC) saw a 25 percent drop in sales in the three months ended Sept. 30.The Redwood City Calif.-based cardiac device company posted a 24.92 percent decrease in sales to $747 thousand, compared to $995 thousand during the same period last year.

Company profits were way down $3 million, or 11 cents per diluted share, compared to an increase of $6.2 million, or 24 cents per diluted share in Q1 of 2010. Read more.

Endologix still in red after 33 percent sales growth
Endologix Inc. (NASDAQ:ELGX) is still in the red after a 33 sales revenue growth in the three months ended Sept. 30.

The Irvine, Calif.-based endovascular device company posted a 33.28 percent increase in sales to $20.3 million, compared to $15.2 million during the same period last year.

Company profits are down to $6.6 million, or .12 cents per diluted share, compared to $446 thousand, or 1 cents per diluted share in Q3 of 2010.
Read more.

Uroplasty reports Q2 numbers
Uroplasty Inc. (NASDAQ:UPI) saw an big increase in revenue in the three months ended Sept 30. The Minnetonka, Minn.-based med device company posted a 53 percent increase in sales to $4.97 million, compared to $3.24 million during the same period last year.

Company profits decreased 38 percent to $1.2 million, or 6 cents per diluted share, compared to $922 thousand, or 5 cents per diluted share in Q2 of 2010. Read more.

LeMaitre Vascular’s Q3 report
LeMaitre Vascular Inc. (NASDAQ:LMAT) saw an increase in revenue in the three months ended Sept. 30. The Burlington, Mass.-based vascular device company posted a 6.6 percent increase in sales to $14.5 million, compared to $13.6 million during the same period last year.

Company profits decreased 19 percent to $1.2 million, or 8 cents per diluted share, compared to $1.5 million, or 9 cents per diluted share in Q3 of 2010. Read more.

Align Technology lands great Q3 numbers
Align Technology (NASDAQ:ALGN) saw its sales and profits go up in the three months ended Sept. 30. The San Jose, Calif.-based dental device company posted a 31.2 percent increase in sales to $125.9 million, compared to $95.9 million during the same period last year.

Company profits rose 14.6 percent to $19.2 million, or 24 cents per diluted share, compared to $16.8 million, or 22 cents per diluted share in Q2 of 2010.
Read more

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