• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Special charges devour Merit Medical’s bottom line in Q2

Special charges devour Merit Medical’s bottom line in Q2

August 6, 2013 By Sony Salzman

merit medical logo

Merit Medical Systems (NSDQ:MMSI) saw its bottom line drop dramatically during its 2nd quarter, thanks in part to some high-value temporary expenses, but the device maker’s otherwise promising financials got some attention from Wall Street last week.

Share prices were just above $13 when the company posted its earnings report on Wednesday, July 31, but jumped to above $14 by week’s end.

Excluding 1-time costs, the company’s adjusted earnings beat analysts’ expectations of 13¢ by 2 pennies. Merit’s bottom line dip reflects sunk costs from the acquisition of Thomas Medical, lost patents and an estimated 38% income tax rate, according to a company filing. Including the impact of the special costs, the company’s per-share earnings rang in at 9¢, down 35% from last year’s 14¢.

The South Jordan, Utah-based disposable device maker posted Q2 2013 profits of $3.8 million on sales of $109.9 million. That compared with Q2 2012 profits of $6.1 million on sales of $100.5 million. Overall Q2 sales increased by about 9.3% in 2013 over 2012, but profits slid about 38.4%.

"The 2nd quarter of 2013 was evidence of our plan for performance and profit improvement," said CEO Fred Lampropoulos in prepared remarks. "During the quarter we started up our new advanced manufacturing facility and consolidated our former facility in Murray, Utah onto our South Jordan campus. Although we anticipate that some ongoing expenses and start-up costs will continue during the 3rd quarter of 2013, we came in below cost estimates and 5 weeks ahead of our scheduled plan.

MMSI shares closed at $14.01 last night, but were down a few pennies in after-hours trading as of about 4:15 p.m.

Filed Under: MassDevice Earnings Roundup, News Well, Wall Street Beat Tagged With: 2013, Merit Medical Systems, Q2

More recent news

  • Vicarious Surgical inks surgical robot collab with hospital, eyes first clinical patients
  • Bioliberty launches hub for soft-robotic wearable devices
  • Zynex submits laser pulse oximeter to FDA
  • Roche invests $550M to make Indianapolis a CGM manufacturing hub
  • Product liability lawsuits target Medtronic, Boston Scientific spinal cord stim tech

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy