A slew of medical device companies are providing a sneak preview of the upcoming earnings season at the JP Morgan Conference in San Francisco this week.
MassDevice is on site at the conference and will have updates coming throughout the week on one of the largest meetings of the medical technology investment community.
CareFusion doesn’t meet Q2 expectations
San Diego,Calif.-based medical products maker CareFusion Corp. (NYSE:CFN) expects second quarter sales to be $910 million to $915 million for the three month period ended Dec. 31, 2011. The numbers fall well below consensus analyst expectations of $923 million. Officials said they expect operating income to be $141 million to $146 million.
The company maintained top-line guidance of 3% to 5% growth on a constant currency basis, compared to sales of $3.53 billion in 2011. However, they lowered the bottom end of its full-year adjusted EPS guidance range to $1.75 to $1.90.
Volcano Corp. sees 17% jump in sales
San Diego, Calif-based intravascular diagnosis and therapy guidance tools maker Volcano Corp. (NSDQ:VOLC) said sales in the fourth quarter were $92.7 million, up 14%, compared to $81.2 million for the same period the last year. The numbers just missed analyst’s consensus expectation on The Street of $93.1 million.
For 2011, Volcano officials said sales will be $343.5 million, a 17% jump, compared to $294.1 million in 2010.
“We are pleased with these record quarterly and annual revenues as our medical segment business continued to demonstrate solid growth—led by a strong performance in our FFR (Fractional Flow Reserve) disposable business, which increased 37 percent in the quarter versus the fourth quarter a year ago. Our IVUS (Intravascular Ultrasound) business performed to our expectations. However, due to continued softness in telecom infrastructure spending in key international geographies, we experienced a greater than anticipated reduction in Axsun Industrial segment revenues, which were approximately $1.5 million in the fourth quarter of 2011 versus revenues of $5.1 million in the fourth quarter a year ago, or a decline of approximately 70 percent,” Scott Huennekens, president and CEO said in a prepared release.
AngioDynamics up 6% from Q2 2011
Albany, N.Y.-based device maker AngioDynamics (NSDQ:ANGO) said its second quarter sales were $58.1 million, a 9% increase from the $53.4 million reported for the same period last year. U.S. sales were $49.7 million, up 6% compared to the second quarter of fiscal 2011.
Officials said gross profits will be down $1.5 million, as a result of the voluntary Class II recall of NeverTouch procedure kits used with the VenaCure EVLT System, Morpheus Smart PICC CT PICCs and DuraMax Chronic Hemodialysis Catheters. Officials said the recalls stemmed from nonconforming parts manufactured by suppliers and that “shipments of all three products have resumed, however, management believes that a backlog of orders for NeverTouch procedure kits may exist until the end of February 2012," according to an SEC filing.
AngioDynamics provided full year guidance of $218-$220 million in sales with 0.32 – 0.37 EPS.
Orthofix International expects 5% jump in Q4 sales
Orthofix International (NSDQ:OFIX) said it expects fourth quarter sales to jump 5% to $151.3 million, compared to $143.8 million from the same period last year. The Dutch orthopedic maker said it expects net sales to be $578.7 million, a 2.5 % increase from the $564.4 million from the same period last year.