Kinetic Concepts Inc.’s (NYSE:KCI) profits rose 17.4 percent during the its third quarter.
The San Antonio-based wound care products maker posted net income of $75.8 million, or $1.06 per diluted share, on revenues of $506.7 million during the three months ended June 30. That compares with net income of $64.6 million, or 91 cents per diluted share, on reveneus of $504.4 million during the same period last year.
The bottom-line bump was due to partly to $4 million from several research & development programs that came to a close during the quarter, KCI said.
The company raised its full-year EPS guidance from $3.40 – $3.50 to $3.52 – $3.57 for Q3, up 9 percent to 10 percent over 2009. Excluding acquisition expenses, adjusted EPS is expected to be $4.24 – $4.29. KCI stood pat on its prior $2.0 billion to $2.03 billion 2010 revenue forecast.