MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Greatbatch tramples Wall Street estimates | Earnings Roundup

Greatbatch tramples Wall Street estimates | Earnings Roundup

By

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.

Sign up to get our free newsletters delivered straight to your inbox

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

In case you missed it

RSS From Medical Design & Outsourcing

  • EPA delayed notifying residents of ethylene oxide emissions
    The EPA delayed notifying neighbors of an Illinois medical device sterilization plant of ethylene oxide (EtO) emissions the agency measured in 2018, according to an inspector general’s report released yesterday. The report also says that “leadership” in the agency’s Office of Air and Radiation also failed to conduct public meetings with residents either near the… […]
  • 9 medical devices you should keep an eye out for in 2021
    The medical device industry weathered the COVID-19 pandemic well — and is now set to roll out a host of innovations in 2021. Economists generally expect the U.S. to see a boom as we emerge from the pandemic and resulting recession. Medtech companies appear set to ride the wave this year, with plans to seek… […]
  • Greenlight Guru to provide QMS to NIH diagnostics program
    NIH has chosen Greenlight Guru to provide quality management software for its COVID-19 rapid diagnostics program. The agency launched the Rapid Acceleration of Diagnostics (RADx) program in March 2020 to speed the development, commercialization and implementation COVID-19 testing technologies. As the only QMS provider currently available to all projects in the RADx program, Greenlight Guru… […]
  • MicroCare names CFO
    MicroCare (New Britain, Conn.) has announced the appointment of John Stardellis as the company’s new chief financial officer (CFO). Stardellis joins MicroCare with more than 20 years’ experience in a variety of finance, policy and operational leadership roles. Most recently, he served as CFO at i-Health, a division of DSM Nutritional Products. “John’s track record with… […]
  • Mayo Clinic helps launch two new companies for improved diagnostics
    Mayo Clinic announced that it is introducing a new technology platform to support two new companies it has launched. Rochester, Minn.–based Mayo Clinic’s Remote Diagnostics & Management Platform (RDMP) is designed to connect data with new AI algorithms and augment human decision-making within existing clinical workflows, according to a news release. Get the full story… […]
  • Intertek gains FDA nod for premarket device testing
    Intertek has won accreditation under an FDA pilot program for testing laboratories, the company said this week. The accreditation authorizes Intertek’s 12 “medical centers of excellence” to perform premarket testing of devices for the U.S. market. The Accreditation Scheme for Conformity Assessment pilot program is a voluntary program developed to provide increased confidence in testing… […]
  • HHS shoots down ‘flawed’ plan to let some devices skip review
    The Biden administration has nixed what it described as a “flawed” Trump-era decision to exempt certain medical devices — including infusion pump controllers and fetal monitors — from regulatory review. HHS published the original notice in the Federal Register on Jan. 15, shortly before President Joe Biden was set to take office, without speaking with… […]
  • More than 50 medtech testing sites win FDA pilot accreditation
    The FDA announced today that more than 50 laboratory sites were chosen to participate in its program for streamlined regulatory reviews. In total, 53 sites made the FDA’s initial list for participation in its Accreditation Scheme for Conformity Assessment (ASCA) program, which will set out to support more streamlined regulatory reviews of medical device market… […]
  • Medline Industries up for sale?
    Medline Industries is looking for a buyer in a deal that could be worth $30 billion, according to a report in the Wall Street Journal. The Journal cites “people familiar with the matter” saying that Northfield, Ill.-based Medline has hired Goldman Sachs to manage the process. The people added that the company might alternatively seek… […]
  • Micro to add plant in Costa Rica
    Contract manufacturer Micro today announced plans to open a new plant in Costa Rica. The 32,000 ft² facility will significantly increase Micro’s cleanroom assembly capacity, according to the Somerset, N.J.-based company. It will be located in the Zona Franca Metro business park and is expected to open in late 2021 with operations beginning in 2022.… […]
  • Survey shows solid medical device industry performance despite pandemic
    By Stewart Eisenhart, Emergo Group Medical device and IVD manufacturers report healthy performance over the course of 2020, but also faced significant operational and regulatory challenges related to the coronavirus pandemic. Get the full story here at the Emergo Group’s blog. The opinions expressed in this blog post are the author’s only and do not… […]

Leave a Reply