Sorin Group (BIT:SRN) managed to raise its bottom line despite flat sales for 2011 by raising its gross margin via restructuring, posting a profit increase of 48.3% for the year.
The Milanese cardiovascular device maker reported profits of $75.2 million (~€58.0 million) on sales of $963.4 million (~€743.4 million), compared with profits of $50.7 million (~€39.1 million) on sales of $966.5 million (~€745.8 million) during 2010.
Gross profit rose to $580.0 million (€447.6 million), or 60.2% of revenues, compared to 58.9% of revenues in 2010, "representing the first year in the company’s history in which gross margin resulted above 60%," according to a press release that attributed the gain to "ongoing manufacturing cost reduction programs."
"2011 was a challenging year for the top line, particularly in CRM, where market conditions have deteriorated over the year. In contrast, the company strengthened its global leadership position in cardiopulmonary and was able to significantly grow its net profit by around 50%, thanks to a rigorous operational and financial discipline," CEO André-Michel Ballester said in prepared remarks. "In 2012 we expect a favorable impact of the launch of key new products."
Sorin said it expects revenues to grow at a rate between 2% and 4% and net profits to rise 5% to 10% this year. During the 1st quarter, sales are forecast to grow 1% to 2%.
Its cardiopulmonary business posted revenues of $447.0 million (€344.9 million), up 4.2%, reflecting "the strong contribution of the emerging markets," according to the release. "The group believes that emerging markets will continue to drive the business unit’s growth in 2012."
Sorin’s CRM segment reported revenues of $359.6 million (€277.5 million), down 2.9% compared to 2010, "mainly due to a global market slowdown and the absence in the first 9 months of significant new product launches for the company in the cardiac resynchronization therapy segment. With the European commercial launch of the innovative SonR system in October, Sorin stopped its share erosion in the CRT segment. The Company expects to further gain share in this segment in 2012."
The heart valves operation posted revenues of $154.2 million (€119.0 million), a 1.5% increase.
Barco’s 2011 profits soar on double-digit sales boost
Belgian medical display maker Barco (EBR:BAR) increased its profits by 74.1% on a 16.1% addition to the top-line
Barco posted profits of $98.4 million (~€1.04 billion), or $8.19 (~€6.32) per diluted share, on sales of $1.35 billion (~€1.04 billion) for the year ended Dec. 31, 2011.
That compares with profits of $56.5 million (~€43.6 million), or $4.74 (~€3.66) per diluted share, on sales of $1.16 billion (~€897.0 million) during 2010. Read more
The Swiss dental implant maker posted profits of $51.6 million (~€39.8 million), or 41 cents (~€0.32) per diluted share, on sales of $737.6 million (~€569.2 million) for 2011.
That compares with profits of $59.2 million (~€45.7 million), or 48 cents (~€.037) per diluted share, on sales of $747.2 million (~€576.6 million) during 2010. Read more
The Low-Country medical device maker posted profits of $36.5 million (~€28.1 million), or $1.22 (~€0.94) per diluted share, on sales of $638.0 million (~€492.3 million) for 2011.
That compares with profits of $29.1 million (~€22.5 million), or 97 cents (~€0.75) per diluted share, on sales of $549.5 million (~€424.1 million) during 2010. Read more
The Icelandic prosthetics maker posted profits of $36.6 million, or $8.11 per diluted share, on sales of $401.3 million for 2011.
That compares with profits of $35.4 million , or $7.77 per diluted share, on sales of $358.5 million during 2010. Read more
The Australian hearing implant maker posted losses of $20.8 million (~A$20.4 million) on sales of $395.0 million (A$387.5 million) for the 6 months ended Dec. 31, 2011.
That compares with profits of $89.0 million (A$YY87.2 million) on sales of $384.9 million (A$377.1 million) during the same period in 2010. Read more