Zoll Medical Corp. (NSDQ:ZOLL) doubled its reported quarterly and annual profits.
The Chelmsford, Mass.-based resuscitation products maker posted net earnings of $7.2 million, or 33 cents per diluted share, on sales of $120.4 million during the three months ended Oct. 3. That compares with net earnings of $3.4 million, or 16 cents per diluted share, on sales of $107.9 million during the same period last year.
For full fiscal 2010, the company reported profits of $18.9 million, or 87 cents per share, on sales of $444.0 million, which compares with profits of $9.6 million, or 45 cents per share, on sales of $385.2 million last year.
Zoll’s revenues increased across all of its domestic and international markets, although U.S. military sales dropped about 8 percent, from $24.7 million to $22.7 million for the year. The company reported that its revenues reflected a positive foreign exchange impact of $5 million, about half related to the Canadian dollar.
"The Military delivered solid revenue this year and with our new Propaq MD [heart monitor and automated defibrillator] shipping, we are excited about the potential from this market," CEO Richard Packer said in prepared remarks.
The company won FDA clearance for its Propaq MD in August and its Propaq M in September.
Packer added that his company’s "LifeVest revenue continues to experience high growth and contribute increased profitability to our consolidated results. Temperature Management, although still in investment mode, is adding another growth engine to our company."
