The San Clemente, Calif.-based company posted losses of approximately $7.4 million, or 36¢ per share, on sales of approximately $340.4 million for the three months ended December 31, seeing a swing into red ink on the bottom line while sales shrunk 8% when compared to the same period during the previous year.
After adjusting to exclude one-time items, earnings per share were $2.07, ahead of the $1.80 consensus on Wall Street.
For the full year, ICU Medical posted profits of approximately $28.8 million, or $1.33 per share, on sales of $1.4 billion, seeing profits shrink 58.1% while sales grew 8.3% compared with the same period during the previous year.
“Fourth quarter revenues, adjusted EBITDA and adjusted diluted earnings per share were in line with our expectations,” CEO Vivek Jain said in a prepared statement.
ICU Medical released guidance for 2019, expecting to post net income of between $165 million and $185 million with adjusted EBITDA of between $315 million and $340 million. The company added that it expects to post GAAP diluted EPS of between $7.59 and $8.49 and non-GAAP diluted EPS of between $9.00 and $9.90.
Yesterday, shares in ICU Medical fell 6.4% to close at $236.20. Today, shares in ICU Medical have fallen approximately 1.7%, at $232.29 as of 12:55 p.m. EST.
Last November, ICU Medical posted third quarter earnings that beat expectations for earnings per share but narrowly missed sales consensus on Wall Street.