Last month the Pleasanton, Calif.-based company posted losses of approximately -$24.8 million, or -74¢ per share, on sales of approximately $114.8 million for the three months ended March 31, seeing losses grow 687% while sales shrunk 10.8% when compared to the same period during the previous year. Adjusted to exclude one-time items, earnings per share were 9¢, ahead of the 5¢ per share consensus on Wall Street where analysts expected to see sales of $113.3 million, which the company also topped.
But yesterday Natus said that its internal reconciliation process found non-cash currency adjustments and related tax effects “that should have been accounted for in connection with the impairment charge for the divestiture of Medix,” meaning Q1 losses were instead -$30.0 million, or -89¢ per share. Adjusted EPS were not affected, the company said.
BABY shares were off -1.4% to $27.33 apiece today in early trading.