Merit Medical Systems (Nasdaq:MMSI) this week posted fourth-quarter results that beat the overall consensus on Wall Street.
The South Jordan, Utah-based disposable medical device maker reported profits of $33.4 million, or 58¢ per share, on sales of $293.4 million, for the three months ended Dec. 31, 2023, for a bottom-line gain of 62% on sales growth of 5.36% compared to Q4 2021.
Adjusted to exclude one-time items, earnings per share were 79¢, 12¢ ahead of The Street, where analysts were looking for sales of $290.14 million.
“We delivered 8% constant currency revenue growth in the fourth quarter of 2022, at the high end of our expectations,” CEO Fred Lampropoulos said in a news release. “We are introducing 2023 financial guidance which reflects our confidence in our team’s ability to deliver continued strong execution, despite the challenging operating environment around the world.”
For fiscal 2023, Merit Medical anticipates net sales in the range of $1.194-$1.210 billion and non-GAAP EPS in the range of $2.80-$2.89.
Shares in MMSI were at a standstill in premarket hours.