Natus Medical 4Q profit falls on costs |
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Tue, 20 Feb 2007 14:04
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SAN CARLOS, Calif. (AP) - Natus Medical Inc. which makes devices used to screen for conditions such as epilepsy, hearing loss and brain dysfunction, said Tuesday fourth-quarter profit shrank because of costs to buy three new businesses, but those acquisitions contributed to a big jump in sales.Natus Medical reported fourth-quarter net income of $512,000, or 2 cents per share, compared with profit of $2.5 million, or 13 cents per share, in the fourth quarter of 2005.Excluding charges to buy Bio-logic Systems, Deltamed and Olympic Medical, fourth-quarter earnings totaled $2.9 million, or 13 cents per share, in the latest period. On that basis, analysts polled by Thomson Financial forecast earnings of 12 cents per share.While the deals dented net income, the new businesses boosted sales during the quarter, the company said. Revenue more than doubled to $28.8 million from $12.6 million -- beating Wall Street's $28 million consensus estimate.For 2006, Natus Medical swung to a loss of $927,000, or 5 cents per share, compared with profit of $6.2 million, or 33 cents per share, in 2005. Revenue grew to $89.9 million from $43 million in the prior year.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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