![]() ![]() continue to be sluggish due to unfavorable foreign exchange rate and economic uncertainties. The growth in revenues has been primarily achieved through entry into new markets and successful integration of previously completed acquisitions.ĭomestic Newborn Care and Neurodiagnostic businesses were particularly impressive, thanks to the efficiency of Natus Medical’s domestic sales organizations. Revenues from the neurology market increased 2.1% to $63 million, whereas revenues from the newborn care market improved 14.6% to $37 million. The upside may be attributed to improved performance in neurology and newborn care markets. Revenues increased 6.3% year over year to almost $100 million and were in line with the Zacks Consensus Estimate. Adjusted EPS surged 27.5% on a year-over-year basis and also surpassed the Zacks Consensus Estimate by a nickel. BABY reported adjusted earnings per share (EPS) of 51 cents in the fourth quarter of 2015. B.Provider of newborn care and neurology healthcare products, Natus Medical Inc.Medtronic names former Amazon consumer robotics VP as chief technology and innovation officer.Fast Five: Bayer is making a big digital health play, startup Ezra wants to make a 15-minute MRI using AI.Hawkins continued.īABY shares were down -11.1% to $39.10 apiece today in early trading.įiled Under: MassDevice Earnings Roundup, Mergers & Acquisitions, Pediatrics, Wall Street Beat Tagged With: GN Store Nord, Hearing, Natus Medical Inc. “While we continue to take orders, we will not ship affected products until we have completed the remediation process,” Mr. ![]() “We are committed to bringing our Seattle design and manufacturing systems up to required regulatory standards and we have placed a voluntary ship hold on certain products that are produced in Seattle,” Hawkins said. Shipment is expected to resume during the 4th quarter and early next year. The shipping hold is in place while the company “remediates deficiencies in its engineering and manufacturing quality processes,” Natus said, noting that the problems are not safety-related. Natus said it now expects 3rd-quarter sales of $89 million to $91 million, down from prior guidance of $97 million to $98 million, due mostly to the shipment hold in Seattle and partly to softer international demand. ![]() We expect Otometrics to be accretive to our 2017 earnings with a non-GAAP contribution operating margin goal for the year of 10% and a 2018 goal of 20%.” “With the addition of Otometrics, we anticipate Natus revenue in 2017 will reach $500 million, a major milestone for the company. “Otometrics has several leading brands and has introduced many industry firsts,” president & CEO Jim Hawkins said in prepared remarks. The deal is expected to close by the end of 2016. Pleasanton, Calif.-based Natus said it plans to fund the GN Otometrics buyout with a $150 million credit revolver from JP Morgan Chase and Citibank, plus offshore cash. Shares in Natus Medical (NSDQ: BABY), which said today that it agreed to put up $145 million for GN Store Nord‘s (CPH: GN) otometrics hearing and balance diagnostics business, plunged today after Natus cut its 3rd-quarter guidance due to a voluntary shipment hold at its Seattle facility. ![]()
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