UPDATE 1-ICU Medical Q3 beats Street, raises FY outlook
Mon Oct 18, 2010 4:42pm EDT
* Q3 EPS $0.65 vs est $0.48
* Revenue up 40 pct at $75.7 mln vs est $66.6 mln
* Sees FY10 EPS $2.00-$2.07
* Sees FY10 revenue $277-$282 mln
Oct 18 (Reuters) - ICU Medical Inc (ICUI.O) posted a better-than-expected quarterly profit, helped by strong sales across all its product lines, and raised its full-year outlook for a second time this year.
The maker of disposable medical connection systems reported July-September net income of $9 million, or 65 cents a share, compared with $6.3 million, or 42 cents a share, a year ago.
Revenue at the company, which makes custom I.V. systems, catheters and cardiac monitoring systems, rose 40 percent to $75.7 million.
Analysts on average expected earnings of 48 cents a share, before items, on revenue of $66.6 million, according to Thomson Reuters I/B/E/S.
The company raised its fiscal 2010 earnings-per-share forecast to $2.00-$2.07 from its prior outlook of $1.85-$1.92.
For the full year, it expects revenue of $277-$282 million, up from its earlier forecast of $270-$275 million.
ICU Medical's shares closed at $38.15 Monday on Nasdaq. The stock has risen 11 percent in value since the company reported strong second-quarter results and raised its full-year view in July. (Reporting by Shravya Jain in Bangalore; Editing by Anne Pallivathuckal)
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