Sorin Group (BIT:SRN) reported flat sales but strong profit growth for 2011, saying it raised earnings by 48.3% and revealing that the cardiac rhythm management slump has made its way across the pond.
The Italian medical device maker posted net income of €58.0 million (~$75.2 million) on sales of €743.4 million (~$963.4 million) for the year ended Dec. 31, 2011. That compares with profits of €39.1 million (~$50.7 million) on sales of €745.8 million (~$966.5 million) during 2010.
Shares of orthopedic device makers are up this morning after bellwether Biomet Inc. reported preliminary sales numbers indicating 3.8% growth for its fiscal second quarter.
Edwards Lifesciences (NYSE:EW) can’t seem to get a break on Wall Street, where its share price slipped 3.4 percent today despite growth for its top and bottom lines.
The Irvine, Calif.-based heart valve maker missed The Street’s earnings forecast by a mere penny, but that was enough to send its shares down to a $67.79 close.
Second-quarter sales and earnings may have slipped for Swedish medical device maker Getinge AB (STO:GETI B), but that hasn’t stopped it from issuing an ambitious plan to boost its profits.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days:
Neogen profits jump 33 percent
Neogen Corp. (NSDQ:NEOG) posted profits of $6.1 million, or 26 cents per diluted share, on sales of $43.9 million during the three months ended Nov. 30. That compares with profits of $4.6 million, or 20 cents per diluted share, on sales of $35.3 million during the same period last year.