Earnings roundup Q4 2009

Pressure BioSciences ends 2009 on a high note

March 31, 2010 by MassDevice staff

Pressure BioSciences Inc. ended 2009 with increased revenues and narrower net losses and began 2010 on a $500,000 up note, with another $1.5 million in the wings.

Pressure BioSciences Inc. (NSDQ:PBIO) ended 2009 in fine shape, posting increased revenues and narrower net losses, and began 2010 with a $500,000 boost — with another $1.5 million waiting in the wings.

The Easton, Mass.-based firm reported revenues of $1.2 million for the year ended Dec. 31, 2009, up 46.1 percent compared with $852,000 during 2008. Net losses for the year were $3.3 million, down 33.1 percent compared with $4.9 million during 2008.

Cambridge Heart trims losses despite 24 percent drop in 2009 revenues

March 30, 2010 by MassDevice staff

Tewksbury, Mass.-based Cambridge Heart Inc. rides an austerity kick to narrow its 2009 losses, despite a sales downturn.

Cambridge Heart Inc. (NSDQ:CAMH) used a series of cost-cutting measures to offset slumping sales during 2009, as it looked to revamp the way it does business.

PLC Systems might not see 2011

March 30, 2010 by MassDevice staff

PLC Systems Inc. is on the ropes after ending 2009 with only $2.7 million in cash, recurring net losses and negative cash flows.

PLC Systems Inc. (OTC:PLCSF) is on the ropes after ending 2009 in rough shape and is looking to drum up enough cash to stay in business.

PLC's accountants are worried the company isn't bringing in enough cash to stay in business, slapping the company with a so-called "going concern" opinion on its audit. That means Caturano & Co. has "substantial doubt about [PLC's] ability to continue as a going concern for the next 12 months," according to a press release.

NMT Medical narrows losses despite revenue slide

March 25, 2010 by MassDevice staff

Fourth-quarter and full-year sales slipped for NMT Medical Inc., but the cardiac implant maker still managed to narrow its losses for the quarter and 2009.

NMT Medical Inc. (NSDQ:NMTI) managed to narrow its losses during the fourth quarter and full-year 2009, despite logging sales declines in both periods.

The Boston-based cardiac implant maker posted revenues of $3.6 million for the three months ended Dec. 31, 2009, down 19.8 percent compared with $4.4 million during the same period in 2008. Fourth-quarter net losses were $1.9 million, down 54 percent compared with net losses of $4.2 million during Q4 2008.

Anika's Q4 profits plunge

March 17, 2010 by MassDevice staff

Fourth-quarter profits for Anika Therapeutics fell 36 percent, despite and 18 percent revenue spike, but full-year 2009 sales and earnings both rise.

Anika Therapeutics Inc. (NSDQ:ANIK) saw fourth-quarter profits plunge 36.3 percent as it paid for an acquisition and the relocation of some of its manufacturing operations to its Bedford, Mass., headquarters.

Anika, which makes cosmetic and tissue-repair products using hyaluronic acid technology, posted net income of $697,000 (or 6 cents per diluted share) on revenues of $10.6 million during the three months ended Dec. 31, 2009. That compares with net income of $1.1 million, or 10 cents per diluted share, on revenues of $9 million during Q4 2008.

Athenahealth's Q4, 2009 profits fall as it restates financials

March 16, 2010 by MassDevice staff

Athenahealth Inc. restates its financial results going back to 2005 as fourth-quarter and full-year 2009 profits slide.

A change in the way it accounts for revenues forced Athenahealth Inc. (NSDQ:ATHN) to restate its financial results dating back to 2005, as it posted full-year and fourth-quarter declines in net income.

The Watertown, Mass.-based physician practice software provider posted net income of $4.3 million, or 12 cents per diluted share, during the three months ended Dec. 31, 2009, down 83.9 percent compared with $26.8 million (77 cents per share) during Q4 2008. Revenues for the quarter rose 33.4 percent to $54.4 million, compared with $40.8 million during the last three months of 2008.

Analogic's medical business flat in Q2

March 10, 2010 by MassDevice staff

Peabody, Mass.-based imaging equipment maker Analogic Corp. sees sales of its MRI and CT equipment drop 9 percent during the second quarter and cuts 17 jobs, but doubles its bottom line.

Analogic Corp.'s (NSDQ:ALOG) largest business segment posted flat sales, with a 9 percent dip in its bread-and-butter MRI and CT equipment business offsetting stronger sales of specialized ultrasound equipment.

The Peabody, Mass.-based imaging equipment maker posted sales of $103.3 million for the three months ended Jan. 31, essentially flat compared with $102.7 million during the same period last year. Still, net income improved to $3.6 million, compared to $1.4 million for the same period last year, when the company took a $3.5 million hit to its bottom line when it laid off 145 employees, or about 9 percent of its total workforce.

LeMaitre ends 2009 in the black

March 4, 2010 by MassDevice staff

Sales increase 13 percent and net income jumps to $1.3 million during the fourth quarter for Burlington, Mass.-based vascular device maker LeMaitre Vascular Inc.

LeMaitre Vascular Inc. (NSDQ:LMAT) ended 2009 swinging from red to black, riding strong sales in its vascular division to positive top- and bottom-line growth for the year.

The Burlington, Mass.-based peripheral vascular device maker posted sales of $13.6 million during the three months ended Dec. 31, 2009, up 13 percent compared with the $12 million in sales the company reported during the same period in 2008.

The increased sales helped the company boost its bottom line to $1.3 million, compared to a $312,000 profit for Q4 2008.

Volcano swings to Q4 loss despite 45 percent increase in sales

March 4, 2010 by MassDevice staff

Acquisitions take a bite out of San Diego-based intravascular therapy device maker Volcano Corp.'s profits.

Volcano Corp. (NSDQ:VOLC) posted $71 million in sales during the fourth quarter, a 45 percent increase from the $49 million it posted during the same period last year.

However, the San Diego-based maker of intravascular therapy devices slipped into the red during the three months ended Dec. 31, 2009, posting a net loss of $12 million, compared to a $1.3 million profit for the same period in 2008.

Officials blamed the quarterly loss on $14 million worth of "in-process" R&D charges it assumed when the company acquired CardioSpectra Inc. and Novelis Inc., according to its earnings release.

ATS Medical trims net loss by 68 percent in 2009

March 2, 2010 by MassDevice staff

Minneapolis, Minn.-based heart valve repair products maker ATS Medical Inc. reports a 13 percent revenue bump during 2009.

ATS Medical Inc. (NSDQ:ATSI) reported sales of $18.7 million during the fourth quarter, an increase of 4 percent when compared to the $18 million the company reported during the same period in 2008.

The Minneapolis, Minn.-based heart valve repair products company managed to trim its net loss to $3.4 million for the three months ended Dec. 31, 2009, a 62 percent decrease from the $8.5 million the company lost during the same period last year.

For the year, ATS managed to narrow its net losses by 68 percent, reporting a loss of just over $6 million on $75 million in sales, compared to a $19 million loss on $66 million in sales during 2008.

Denville acquisition pays off for Harvard Bioscience in Q4

February 26, 2010 by MassDevice staff

Holliston, Mass.-based lab instruments maker Harvard Bioscience sees 20 percent growth in sales during the fourth quarter, paced by its acquisition of Denville Scientific Inc.

Harvard Bioscience Inc. (NSDQ:HBIO) is seeing some returns from its $24 million acquisition of Denville Scientific Inc.

The Holliston, Mass.-based lab instruments maker said revenues from its new Denville subsidiary contributed $5.7 million in sales during the three months ended Dec. 31, 2009. In all, revenues from Denville made up about 20 percent of the $27.6 million in sales the company reported during the quarter; during the same period last year the company posted $23 million in sales.

NuVasive reverses $27 million loss from 2008 on 48 percent jump in sales

February 26, 2010 by MassDevice staff

The San Diego-based spine company rides strong sales to turn a $5 million profit in 2009, beating internal guidance for the year with $370 million in sales and predicting more growth in 2010.

NuVasive Inc. (NSDQ:NUVA) rode a nearly 50 percent increase in 2009 sales to turn a $27 million loss in 2008 into a $5 million profit last year.

The San Diego-based company, which is developing what it calls "minimally disruptive" spine surgery techniques, said its sales for the three months ended Dec. 31, 2009, were $107 million, a 43 percent increase from the $75 million the company posted for the fourth quarter of 2008.

NxStage Medical builds revenues, narrows Q4 losses

February 25, 2010 by MassDevice staff

Big gains in its home- and critical-care businesses lift NxStage Medical to record fourth-quarter revenues, while also helping close losses for the manufacturer of portable dialysis equipment.

NxStage Medical Inc. saw impressive gains in its home- and critical-care businesses during the fourth quarter, helping offset a slight decline in consumables sales and leading the manufacturer of home dialysis equipment to a smaller net loss during the three months ended Dec. 31, 2009, compared with year-ago levels.

Bruker's Q4 profits grow 66 percent

February 25, 2010 by MassDevice staff

Bruker Corp. records a 66 percent jump in fourth-quarter earnings and predicts 15 percent profit growth for its core scientific instruments business during 2010.

Paced by 16.2 percent revenue growth during the fourth quarter, Bruker Corp. (NSDQ:BRKR) reported $43.6 million in profits during the three months ended Dec. 31, 2009.

The 66 percent jump in net income, compared with year-ago levels, on $366.4 million in revenues translated into 26 cents per share, beating even the most optimistic bottom-line forecasts by analysts. Company officials said they anticipate profit growth of at least 15 percent this year within Bruker's primary scientific instruments operating unit, which would work out to net income of $93.4 million or more during 2010.

Stereotaxis narrows losses in 2009

February 25, 2010 by MassDevice staff

St. Louis, Mo.-based cardiology instrument control system maker Stereotaxis Inc. reports a 27 percent jump in sales during 2009.

Stereotaxis Inc. (NSDQ:STXS) reported strong fourth-quarter and year-end sales, helping the company narrow losses nearly 38 percent in 2009.

The St. Louis, Mo.-based cardiology instrument control system maker reported a net loss of $6.7 million on $14 million in sales during the three months ended Dec. 31, 2009, compared to a loss of $7.5 million on $12 million in sales during the comparable period in 2008.

For the full year, Stereotaxis reported a $27.5 million net losses on $51 million in sales, compared to a $44 net loss on $40 million in sales during 2008.

VirtualScopics' sales jump 45 percent in 2009

February 25, 2010 by MassDevice staff

Fourth-quarter sales jump 50 percent for Rochester, N.Y.-based quantitative imaging provider VirtualScopics Inc.

VirtualScopics Inc. (NSDQ:VSCP) posted a 50 percent increase in total sales during the fourth quarter, capping off a strong 2009.

The company reported revenues of $2.9 million for the three months ended Dec. 31, 2009, up 50 percent compared with $1.9 million during the same period in 2008.

For the year, the Rochester, N.Y.-based quantitative imaging provider for clinical trials reported $10.4 million in sales, up 45 percent from the $7.1 million it reported in 2008.

Symmetry Medical's Q4 sales, profits drop

February 25, 2010 by MassDevice staff

Weaker fourth-quarter sales weigh on Warsaw, Ind.-based Symmetry Medical Inc.'s bottom line.

Symmetry Medical Inc. (NYSE:SMA) reported sales of $76 million during the three months ended Jan. 2, 2010, a 23 percent decrease from nearly $100 million during the same period last year.

The drop in sales, which company officials blamed on reduced customer demand across all segments of the Warsaw, Ind.-based orthopedic company, held true for the entire year. The company reported a 14 percent decrease in revenues overall during 2009, recording $366 million in total sales for the year, compared to $423 million for the same period last year.

Conceptus' Q4 sales, earnings surge

February 23, 2010 by MassDevice staff

Fourth-quarter sales and earnings surged for women's health products maker Conceptus Inc.

Conceptus Inc. (NSDQ:CPTS) posted fourth-quarter sales of $37 million for the three months ended Dec. 31, 2009, up 29.6 percent compared with $28.5 million during the same period in 2008. Net income rose 66.9 percent to $6.6 million, compared with $4 million during QYY Q4 2008:

Press Release

Conceptus_® Reports Fourth Quarter Sales
Growth of 30%, Diluted EPS of $0.21

Cerus Corp.'s Q4 sales surge, losses narrow 25 percent

February 23, 2010 by MassDevice staff

Fourth-quarter sales for Cerus Corp. grew 48 percent to $5 million and losses shrank 25 percent to $5 million.

Cerus Corp. (NSDQ:CERS) posted fourth-quarter sales of $5.2 million for the three months ended Dec. 31, 2009, up 47.6 percent compared with $3.5 million during the same period in 2008. Net losses narrowed 24.9 percent to $4.9 million, compared with $6.5 million during Q4 2008:

Press Release

Cerus Announces Fourth Quarter and Year-End 2009 Results

iCad's Q4 profits steady despite sales slide

February 23, 2010 by MassDevice staff

Profits were nearly unchanged at iCad during fourth quarter as the Nashau, N.H.-based digital imaging firm looks for rebound after 11 percent sales dip.

Earnings at iCad Inc. (NSDQ:ICAD) changed little during the final quarter of 2009, despite an 11 percent drop in revenues from year-ago levels.

A sharp decline in film-based revenues coupled with falling sales for iCad's digital computer-aided detection business undercut gains in service and supply revenues during the period. Film-related revenues fell $1 million, or 45 percent, to $1.2 million during the quarter from the $2.2 million reported last year, while sales within its digital computer operations dropped about $700,000, or 11 percent, to $5.6 million.

Exactech's Q4 sales rise, earnings fall

February 23, 2010 by MassDevice staff

Fourth-quarter sales for Exactech Inc. rises 20 percent to $48 million, but net income plunges 84 percent to $494,000.

Exactech Inc. (NSDQ:EXAC) posted fourth-quarter sales of $48.3 million for the three months ended Dec. 31, 2009, up 19.9 percent compared with $40.3 million during the same period in 2008. Net income fell 84.1 percent to $494,000, compared with $3.1 million during Q4 2008:

Solta Medical's Q4 results shine as it acquires Aesthera Corp.

February 23, 2010 by MassDevice staff

Solta Medical posts fourth-qwuartter sales gains and narrows net losses as it announces a deal to acquire Aesthera Corp. for $5.25 million in Solta stock and cash, plus potential milestone payments of $750,000.

Solta Medical Inc. (NSDQ:SLTM) posted fourth-quarter sales of $28.4 million for the three months ended Dec. 31, 2009, up 197 percent compared with $9.5 million during the same period in 2008. Net losses narrowed to $256,000, compared with $15 million during Q4 2008.

Psychemedics increases Q4 profits despite sales slip

February 23, 2010 by MassDevice staff

Psychemedics Corp. posted fourth-quarter sales of $4 million, down 12 percent, but still managed to boost Q4 profits 216 percent to $546,000.

Psychemedics Corp. (NSDQ:PMD) posted fourth-quarter sales of $4.3 million for the three months ended Dec. 31, 2009, down 11.5 percent compared with $4.8 million during the same period in 2008. Net income rose 216 percent to $546,000, compared with $173,000 during Q4 2008:

Medtronic's Q3 sales, earnings rise

February 23, 2010 by MassDevice staff

Third-quarter sales for Medtronic Inc. rises 10 percent to $3.85 billion and net income jumps 19 percent to $831 million as the Minneapolis devices giant ups the lower end of its EPS guidance.

Medtronic Inc. (NYSE:MDT) posted strong enough results for the third quarter to prompt it to boost the lower end of its earnings-per-share guidance for fiscal 2010.

The Fridley, Minn.-based medical devices monolith posted sales of $3.85 billion during the three months ended Jan. 29, up 10.2 percent compared with $3.49 billion during Q3 2009. Net income rose 19.1 percent to $831 million (or 75 cents per share), compared with $698 million (62 cents per share) during the same period in fiscal 2009.

HeartWare ends Q4, 2009 on the upswing

February 23, 2010 by MassDevice staff

HeartWare International Inc.'s fourth-quarter and full-year 2009 sales soared and losses narrowed dramatically as the Framingham, Mass.-based cardiac assist device maker closed enrollment in its Advance clinical trial ahead of schedule (with an assist from the Food & Drug Administration).

HeartWare International Inc. (NSDQ:HTWR) closed 2009 on a high note, with soaring sales and slashed losses, even as it announced the early conclusion of enrollment in a clinical trial to gauge the effectiveness of its miniature heart pump (with some help from the Food & Drug Administration).

The Framingham, Mass.-based firm posted sales of $12.2 million during the three months ended Dec. 31, 2009, up a whopping 4,900 percent compared with $244,000 during the same period in 2009. Fourth-quarter net losses plunged 51.4 percent, to $1.9 million (or 176 cents per share) compared with $3.9 million (44 cents per share) during Q4 2008.

AtriCure's Q4 sales rise, losses narrow

February 22, 2010 by MedCity News

AtriCure Inc. posts higher sales and lower losses during the fourth quarter.

By Mary Vanac

WEST CHESTER, Ohio — Despite several challenges in 2009 — like a Dept. of Justice investigation and related whistleblower lawsuit — AtriCure Inc. (NSDQ:ATRC) advanced toward profitability, added regulator approvals for its cardiac surgical ablation systems and developed new avenues of growth.

Gen-Probe's Q4 sales, earnings rise

February 22, 2010 by MassDevice staff

Gen-Probe Inc. posts a fourth-quarter sales increase of 27 percent as net income rises 14 percent.

Gen-Probe Inc. (NSDQ:GPRO) posted fourth-quarter sales of $128.9 million for the three months ended Dec. 31, 2009, up 27.2 percent compared with $109.1 million during the same period in 2008. Net income rose 13.6 percent to $24 million, compared with $21.1 million during Q4 2008:

Spectranetics' Q4 losses soar

February 22, 2010 by MassDevice staff

Spectranetics Corp.'s fourth-quarter sales rose 11 percent, but net losses soared 426 percent to $5.7 million.

Spectranetics Corp. (NSDQ:SPNC) posted fourth-quarter sales of $29.7 million for the three months ended Dec. 31, 2009, up 11.3 percent compared with $26.6 million during the same period in 2008. Net losses widened 425.8 percent to $5.7 million, compared with $1.1 million during Q4 2008:

Wright Medical swings to Q4 profits

February 22, 2010 by MassDevice staff

Wright Medical Group posts a fourth quarter sales increase of 8 percent and swings to Q4 profits of $2 million.

Wright Medical Group Inc. (NSDQ:WMGI) posted fourth-quarter sales of $129.9 million for the three months ended Dec. 31, 2009, up 8.2 percent compared with $120.1 million during the same period in 2008. Net income was $2.2 million, compared with net losses of $2.7 million during Q4 2008:

Endologix boosts Q4 sales, narrows losses

February 22, 2010 by MassDevice staff

Fourth-quarter sales for Endologix Inc. rise 28 percent to $14 million as net losses narrow 57 percent to $676,000.

Endologix Inc. (NSDQ:ELGX) posted fourth-quarter sales of $13.7 million for the three months ended Dec. 31, 2009, up 27.9 percent compared with $10.7 million during the same period in 2008. Net losses narrowed 57.1 percent to $676,000, compared with $1.6 million during Q4 2008:

Press Release

Endologix Reports 28% Fourth Quarter 2009 Revenue Growth and Continued Positive Cash Flow from Operations

Provides 2010 revenue guidance of $62 to $66 million, an increase of 18% to 26%

Cyberonics' Q3 sales rise, net falls

February 22, 2010 by MassDevice staff

Third-quarter sales for Cyberonics Inc. rose 16 percent to $41 million, but net income slid 10 percent to $9 million.

Cyberonics Inc. (NSDQ:CYBX) posted third-quarter sales of $40.8 million for the three months ended Jan. 22, up 15.8 percent compared with $35.3 million during the same period in 2009. Net income fell 9.7 percent to $8.8 million, compared with $9.8 million during Q3 2009:

Press Release

Cyberonics Continues Strong Sales Growth and Profitability in Fiscal 2010 Third Quarter

- Company Achieves Sales Growth of 16% -

- Increases Sales and Operating Income Guidance -

Vital Images' Q4 losses widen 63 percent

February 19, 2010 by MassDevice staff

Vital Images Inc.'s sales slide and net losses widen during the fourth quarter.

Vital Images Inc. (NSDQ:VTAL) posted fourth-quarter sales of $6.6 million for the three months ended Dec. 31, 2009, down 18.8 percent compared with $8.1 million during the same period in 2008. Net losses widened 63.2 percent to $630,000, compared with $386,000 during Q4 2008:

CardioNet swings to Q4 losses

February 19, 2010 by MassDevice staff

CardioNet Inc. posts net losses of $16 million during the fourth quarter, as Q4 sales decline 3 percent to $33 million.

CardioNet Inc. (NSDQ:BEAT) posted fourth-quarter sales of $33.3 million for the three months ended Dec. 31, 2009, down 3.3 percent compared with $34.4 million during the same period in 2008. Net losses were $15.9 million, compared with net income of $6.9 million during Q4 2008:

Orthofix swings to profit in 2009

February 18, 2010 by MassDevice staff

Spinal implants and stimulation devices drive big sales gains for Boston-based device supplier Orthofix International during the fourth quarter, as it swings to profit after staggering losses in 2008.

Orthofix International NV (NSDQ:OFIX) turned the page on a fairly disastrous 2008, swinging from a $228 million loss to a $24 million gain over the course of 2009.

The Dutch firm, which maintains its U.S. headquarters in Boston, reported sales of $144 million during the three months ended Dec. 31, 2009, an 8 percent increase from the $132 million the company reported during the same period the prior year. Big increases in sales of spinal stimulation devices and implants, which made up about half of the company's total sales during the quarter, drove growth and made up somewhat for declines in the company's biologic and sports medicine businesses, which both reported lower sales.

American Medical Systems' Q4 sales rise, earnings soar 136 percent

February 17, 2010 by MassDevice staff

Fourth-quarter sales for American Medical Systems Holdings Inc. rises 9 percent to $146 million and net income surges to $22 million.

American Medical Systems Holdings Inc. (NSDQ:AMMD) posted fourth-quarter sales of $146 million for the three months ended Jan. 2, up 9 percent compared with $134 million during the same period last year. Net income rose more than 136 percent to $22.3 million, compared with $9.4 million during Q4 2008:

Press Release

American Medical Systems Confirms Fourth Quarter Revenue and Finishes
2009 with Strong Financial Performance

Third-quarter sales slip, losses narrow for AdvanSource Biomaterials

February 17, 2010 by MassDevice staff

AdvanSource Biomaterials posts third-quarter sales of $668,000, down 3 percent, but narrows net losses nearly 46 percent.

AdvanSource Biomaterials Corp. (AMEX:ASB) managed to pare its net losses during the third quarter, despite a decline in royalties from its medical device customers.

The Wilmington, Mass.-based polymer maker reported sales of $668,000 for the three months ended Dec. 31, 2009, down 2.9 percent compared with $688,000 during the third quarter of fiscal 2009. Net losses narrowed 45.8 percent to $542,000, compared with net losses of $1 million during Q3 2009.

Inverness swings to Q4 net loss but posts 2009 profits

February 17, 2010 by MassDevice staff

Inverness Medical Innovations saw its sales rise both during the fourth quarter and full-year 2009, posting $10.7 million in profits for the year but a $3.2 million Q4 loss.

Inverness Medical Innovations Inc. (NYSE: IMA) reported mixed year-end results, logging profits during 2009 but a net loss for the fourth quarter.

The Waltham, Mass.-based diagnostics and lab equipment maker posted sales of $546.2 million for the three months ended Dec. 31, 2009, up 26.3 percent compared with $432.5 million during the same period in 2008. Inverness swung to a Q4 net loss of $3.1 million, or 4 cents per share, compared with net income of $10.9 million, or 14 cents per share, during Q4 2008.

For the full year, sales grew 21.5 percent to $1.92 billion, compared with $1.58 billion during 2008. Net income last year was $10.7 million, or 13 cents per share, compared with a net loss of $35.8 million, or 46 cents per share, during 2008.

AGA Medical boosts Q4 sales, narrows losses 90 percent

February 16, 2010 by MassDevice staff

AGA Medical Holdings posts fourth-quarter sales of $54 million and narrows its Q4 net losses to $328,000.

AGA Medical Holdings (NSDQ:AGAM) posted fourth-quarter sales of $54.2 million for the three months ended Dec. 31, 2009, up 27.7 percent compared with $42.4 million during the same period in Q4 2008. Net losses narrowed 90 percent to $328,000, compared with $3.3 million during Q4 2008:

Press Release

AGA Medical Reports Strong 2009 Fourth Quarter and Full Year
Financial Results

Company Reports Record Net Sales of $54.2 Million, 28% Increase
over Q4 2008;

Misonix's Q2 sales fall as it swings to red ink

February 16, 2010 by MassDevice staff

Second-quarter sales for Misonix Inc. fall 31 percent as it swings to $367,000 in Q2 red ink.

Misonix Inc. (NSDQ: MSON) posted second-quarter sales of $3.4 million for the three months ended Dec. 31, 2009, down 31 percent compared with $4.9 million during the same period in fiscal 2009. Net losses were $367,000, compared with net income of $194,000 during Q2 2009:

Exact Sciences posts Q4 revenue gains, narrows losses

February 16, 2010 by MassDevice staff

Exact Sciences Corp. goes from negative fourth-quarter revenues in 2008 to $1.8 million in Q4 2009 and narrows its net losses 14 percent.

Exact Sciences Corp. (NSDQ:EXAS) posted fourth-quarter sales of $1.2 million for the three months ended Dec. 31, 2009, compared with negative revenues of $109,000 during the same period in 2008. Net losses narrowed 13.9 percent to $1.8 million, compared with $2.1 million during Q4 2008:

Olympus acquisition boosts Beckman Coulter's Q4 sales

February 12, 2010 by MassDevice staff

Beckman Coulter Inc.'s $800 million buyout of Olympus Corp.'s diagnostics division boosts sales 22 percent during the fourth quarter.

Beckman Coulter Inc. (NYSE:BEC) finally started seeing some positive returns from its $800 million buyout of Olympus Corp.'s (OTC:OCPNY) diagnostics division.

The Orange County, Calif.-based diagnostics equipment maker's top line grew 22 percent, based mostly on increased revenues from the merger. The company reported $990 million in sales during the three months ended Dec. 31, 2009, compared to $811 million during the same period in 2008. Sales directly resulting from the acquisition contributed heavily to the favorable comparison, accounting for $122 million during the quarter.

Q-Med's 2009 net soars on 7 percent sales boost

February 12, 2010 by MassDevice staff

Swedish medical device maker Q-Med AB's 2009 net income soared nearly 2,000 percent as full-year sales rose to about $180 million.

Q-Med AB (STO:QMED) posted sales of about $179.1 million last year, up 7.2 percent compared with roughly $167.1 million during 2008. Annual net income rose 1,976 percent to approximately $90 million, compared with about $4.3 million during 2008.

Fourth-quarter sales were roughly $49.6 million, up 3.6 percent compared with $47.9 million during Q4 2008. Net income was $7.3 million for the quarter, compared with a net loss of $6.3 millio during the same period in 2008:

Press Release

Q-Med AB: Year-End Report 2009

2010-02-12 08:31

January - December

Agilent's Q1 sales, profits rise

February 12, 2010 by MassDevice staff

Agilent Technologies posts first-quarter sales of $1.2 billion, up 9 percent, and net income of $79 million, a 23 percent increase.

Agilent Technologies Inc. (NYSE:A) posted first-quarter sales of $1.22 billion for the three months ended Jan. 31, up 9 percent compared with $1.12 billion during the same period in 2009. Net income rose 23 percent to $79 million, compared with $64 million during Q1 2009:

Press Release

Agilent Technologies Reports First Quarter 2010 Results

Highlights:

Pacific Biometrics rebrands, posts lower Q2 sales and wider losses

February 12, 2010 by MassDevice staff

Pacific Biometrics Inc., known henceforth as Pacific Biomarkers, posts a second-quarter sales decline of 35 percent as it swings to a Q2 net loss.

Pacific Biomarkers Inc. (OTC:PBME) posted second-quarter sales of $2.1 million for the three months ended Dec. 31, 2009, down 34.6 percent compared with $3.2 million during the same period in 2008. Net losses were $458,000, compared with net income of $977,000 during Q2 2008:

Vision-Sciences posts lower Q3 sales, losses widen 6 percent

February 12, 2010 by MassDevice staff

Third-quarter sales for Vision-Sciences Inc. slid 28 percent and Q3 net losses widened to $3.2 million.

Vision-Sciences Inc. (NSDQ:VSCI) posted third-quarter sales of $2.6 million for the three months ended Dec. 31, 2009, down 28 percent compared with $3.6 million during the same period in 2008. Net losses widened 5.6 percent to $3.2 million, compared with $3.1 million during Q3 2008:

LabCorp.'s Q4 sales, earnings rise

February 12, 2010 by MassDevice staff

Laboratory Corp. of America Holdings posted fourth-quarter sales of $1.2 billion, up 5 percent, and net earnings of $143 million, up 21 percent.

Laboratory Corp. of America Holdings (NYSE:LH) posted fourth-quarter sales of $1.17 billion for the three months ended Dec. 31, 2009, up 4.6 percent compared with $1.12 billion during the same period in 2008. Net income rose 20.8 percent to $142.7 million, compared with $118.1 million during Q4 2008:

Corgenix narrows Q2 losses

February 12, 2010 by MassDevice staff

Corgenix Medical Corp. substantially narrowed its second-quarter net losses despite a 2 percent Q2 sales dip to nearly $2 million.

Corgenix Medical Corp. (OTC:CONX) posted second-quarter sales of $1.96 million for the three months ended Dec. 31, 2009, down 1.8 percent compared with $2 million during the same period in 2008. Net losses narrowed rose 68.7 percent to $84 million, compared with $268 million during Q2 2009:

Syneron's Q4 losses narrow 73 percent on slight sales gain

February 11, 2010 by MassDevice staff

Syneron Medical Ltd. narrows its fourth-quarter net losses by nearly 73 percent as Q4 sales tick up 1.6 percent.

Syneron Medical Ltd. (NSDQ:ELOS) posted fourth-quarter sales of $14.4 million for the three months ended Dec. 31, 2009, up 1.6 percent compared with $14.2 million during the same period in 2008. Net losses narrowed 72.6 percent to $4.3 million, compared with $15.9 million during Q4 2008:

Press Release

Syneron Reports Fourth Quarter and Full Year 2009 Results

Closed Acquisition of Candela Corporation in January 2010

Theragenics swings to Q4, 2009 black

February 11, 2010 by MassDevice staff

Theragenics Corp. posted fourth-quarter profits of nearly $400,000 on sales of $19 million.

Theragenics Corp. (NYSE:TGX) posted fourth-quarter sales of $18.7 million for the three months ended Dec. 31, 2009, up 3.2 percent compared with $18.1 million during the same period in 2008. Net income was $389,000, compared with net losses of $62.5 million during Q4 2008:

Press Release

Theragenics^® Reports Record Revenue with
2009 Results

$78.3 Million is Highest Annual Revenue in 29-Year History

Palomar takes big hits during Q4, 2009

February 11, 2010 by MassDevice staff

Palomar Medical Technologies suffering lower sales and vastly wider losses during the fourth quarter and full year 2009.

Palomar Medical Technologies Inc. (NSDQ:PMTI) trod a rocky road last year, closing out 2009 with vastly wider net losses and lower sales.

The Burlington, Mass.-based cosmetic laser device maker reported net losses of $8.5 million, or 47 cents per share, on sales of $16.3 million for the three months ended Dec. 31, 2009. That compared with net losses of just $420,000, or 2 cents per share, on sales of $17.2 million during Q4 2008. Palomar said part of the Q4 2009 losses stemmed from a $5.2 million set-aside for income taxes. Excluding that provision, losses before income taxes were $3.3 million.

Smith & Nephew's 2009 profits rise 15 percent to $723 million

February 11, 2010 by MassDevice staff

The British medical device maker's profits last year rose to $723 million on flat sales of $3.8 billion; fourth-quarter sales rose 11 percent and Q4 profits were up 6 percent.

Smith & Nephew plc (NYSE:SNN) closed out 2009 with a strong fourth quarter that saw the British medical device maker's sales and profits rise.

The company posted sales of $1.07 billion during the three months ended Dec. 31, 2009, up 11 percent compared with $960 million during the same period in 2008. Profits were $189 million, or 15 cents per share, compared with $179 million, or 13 cents per share, during Q4 2008.

Hanger Orthopedic's Q4 sales rise, net income soars 52 percent

February 10, 2010 by MassDevice staff

Fourth-quarter sales for Hanger Orthopedic Group rose 11 percent and Q4 net income soared to nearly $12 million.

Hanger Orthopedic Group Inc. (NYSE:HGR) posted fourth-quarter sales of $205.1 million for the three months ended Dec. 31, 2009, up 10.6 percent compared with $185.5 million during the same period in 2008. Net income rose 51.9 percent to $11.9 million, compared with $7.8 million during Q4 2008:

Press Release

Hanger Orthopedic Group, Inc. Reports an Increase of 42.3% in Earnings Per Share, to $0.37 on a 10.6% Sales Increase, for the Fourth Quarter 2009

UPDATE: Boston Scientific to lay off up to 1,300; Q4, 2009 sales rise, losses narrow

February 10, 2010 by MassDevice staff

Boston Scientific Corp. announces plans to lay off between 1,000 and 1,300 workers as it reports higher fourth-quarter and full-year sales for 2009 and narrows its net losses.

Boston Scientific Corp. (NYSE:BSX) revealed plans to lay off up to 1,300 workers worldwide, even as it announced higher sales and lower net losses for both the fourth quarter and full year 2009.

The Natick, Mass.-based medical devices giant said the layoffs of 1,000 to 1,300 employees — 8 percent to 10 percent of its non-direct labor force* — are part of a larger restructuring effort that will see dramatic changes to its corporate structure and management and a program of divestitures and acquisitions designed to "further rationalize and refocus its business portfolio."

BioSphere's Q4 sales spike 15 percent on liver cancer treatment

February 10, 2010 by MassDevice staff

Rockland, Mass.-based microsphere maker BioSphere Medical Inc. posts sales increases and narrows losses during 2009 as a pair of investment firms increase their stakes in the company.

BioSphere Medical Inc. (NSDQ:BSMD) managed to cut its losses in half during 2009, ending the year with a 7 percent sales increase.

The Rockland, Mass.-based microsphere maker reported a net loss of $293,000 on $8.4 million in sales during the three months ended Dec. 31, 2009, compared to a $1.7 million loss on $7.2 million in sales for the same period in 2008.

NMT Medical's preliminary Q4 sales slip 18 percent

February 10, 2010 by MassDevice staff

Preliminary fourth-quarter sales results for NMT Medical Inc. slip 18.2 percent to $3.6 million, but expected full-year sales of $13.2 million meet its prior guidance.

NMT Medical Inc. (NSDQ:NMTI) released preliminary sales figures for its fourth quarter and full year, saying it expects Q4 sales to be down 18.2 percent compared with the same period last year but full-year sales to meet its prior guidance.

The Boston-based cardiac implant maker said it expects to post sales of about $3.6 million for the three months ended Dec. 31, 2009, compared with $4.4 million during the same period in 2008. Full-year sales are expected to be roughly $13.2 million, within its previous forecast of $13 million to $14 million but down 26.3 percent compared with the $17.9 million NMT posted during 2008.

NeuroMetrix swings to Q4 black on warrants revaluation

February 10, 2010 by MassDevice staff

NeuroMetrix Inc. posted fourth-quarter profits of $363,000, due to a $2.2 million revaluation of warrants last year, but full-year 2009 profits still elude the nerve conduction test equipment maker.

A revaluation of warrants and a change in reimbursement policy helped produce fourth-quarter profits and hope for future top-line growth for NeuroMetrix Inc. (NSDQ:NURO).

BlackRock sheds a portion of its Barclay's stake in Boston Scientific

February 9, 2010 by MassDevice staff

BlackRock Inc., the world's largest asset manager, trims its stake in Boston Scientific Corp. as BSX prepares to release its Q4 results.

BlackRock Inc. (NYSE:BLK) shed some 760,000 shares of its stake in Boston Scientific Corp. (NYSE:BSX) a day before the medical device giant is set to release its annual earnings report to Wall Street.

BlackRock, which controls more than $3.2 trillion in assets, assumed a stake in Natick, Mass.-based Boston Scientific following its purchase of Barclay's Global Investors last December.

According to stock ownership forms filed with the federal Securities & Exchange Commission, BlackRock owned some 76 million shares of BSX stock after the Barclay's buyout, good for a 5.2 percent piece of BSX, making it the firms fourth-largest shareholder.

CareFusion's Q2 sales rise, profits fall

February 9, 2010 by MassDevice staff

CareFusion Corp. posts second-quarter sales of $1 billion, up 5 percent, but net income falls 63 percent to $969 million.

CareFusion Corp. (NYSE:CFN) posted second-quarter sales of $1.02 billion for the three months ended Dec. 31, 2009, up 5.2 percent compared with $969 million during the same period in fiscal 2009. Net income fell 62.8 percent to $70 million, compared with $188 million during Q2 2009:

Press Release

CareFusion Reports Second Quarter Results

-- Revenue increased 5 percent to $1 billion, or 2 percent on a constant currency basis

-- GAAP diluted earnings per share (EPS) from continuing operations of $0.33, or $0.39 on an adjusted basis

Insulet beats Q4, full-year expectations

February 9, 2010 by MassDevice staff

Insulet Corp.'s fourth-quarter and full-year revenues beat its own and analysts' expectations as it continues its drive toward profitability.

Insulet Corp. (NSDQ:PODD) continued down the road to profitability, increasing its fourth-quarter and full-year revenues and narrowing its net losses by 48.9 percent and 16.1 percent, respectively.

The Bedford, Mass.-based insulin management system maker posted a net loss of $14.9 million, or 42 cents per share, on sales of $20.2 million during the three months ended Dec. 31, 2009, compared with net losses of $29.2 million, or $1.05 per share, on sales of $11.9 million during the fourth quarter of 2008.

Mediware nearly triples Q2 profits

February 9, 2010 by MassDevice staff

Mediware Information Systems nearly triples its second-quarter profits as sales rise 8 percent.

Mediware Information Systems Inc. (NSDQ:MEDW) posted second-quarter sales of $10.8 million for the three months ended Dec. 31, 2009, up 8 percent compared with $10 million during the same period in fiscal 2009. Net income rose 158.4 percent to $783,000, compared with $303,000 during Q2 2009:

Press Release

Mediware Continues Trend with Sixth Quarter of Revenue and Earnings Growth

Company more than doubles year-over-year EPS, extends quarterly growth trend and adds two acquisitions during second quarter

RTI Biologics swings to Q4 black

February 9, 2010 by MassDevice staff

RTI Biologics Inc. posted net income of $1.5 million during the fourth quarter, compared with a net loss of $103 million during Q4 2008, on sales of $42 million.

RTI Biologics Inc. (NSDQ:RTIX) posted fourth-quarter sales of $42 million for the three months ended Dec. 31, 2009, up 12 percent compared with $37.4 million during the same period in 2008. Net income was $1.5 million, compared with a net loss of $102.5 million during Q4 2008:

Press Release

RTI Announces 2009 Year End, Fourth Quarter Results, Estimates 2010 Revenues And EPS

SeraCare swings to Q1 profits

February 9, 2010 by MassDevice staff

First-quarter sales for SeraCare Life Sciences rise 21 percent as it swings to Q1 profits of $1.3 million.

SeraCare Life Sciences Inc. (NSDQ:SRLS) posted strong first-quarter sales and earnings results, swinging back into the black after posting quarterly losses last year.

The Milford, Mass.-based life sciences service provider posted sales of $11.3 million for the three months ended Dec. 31, 2009, up 21.4 percent compared with $9.3 million during the same period in fiscal 2009. SeraCare reported net income of $1.3 million, or 7 cents per share, for the quarter, compared with net losses of $16.9 million, or 91 cents per share, during Q1 2009.

Cynosure wins patent case, posts wider Q4 sales decline and net losses

February 9, 2010 by MassDevice staff

Cynosure Inc. wins a patent infringement lawsuit against CoolTouch Inc. but fourth-quarter sales slide 25 percent and net losses widen 482 percent.

Cynosure Inc. (NSDQ:CYNO) announced mixed news today, saying it won a patent infringement lawsuit against a competitor but posting a 25 percent fourth-quarter sales slide and soaring net losses.

The Westford, Mass.-based cosmetic device maker reported fourth-quarter sales of $19 million for the three months ended Dec. 31, 2009, down 24 percent percent compared to $25 million during the same period in 2008. Fourth-quarter net losses widened 481.5 percent to $14.5 million, or $1.14 per diluted share, compared with $2.5 million, or 20 cents per diluted share, during Q4 2008.

PPD Inc.'s Q4 sales and earnings slide

February 9, 2010 by MassDevice staff

Contract research organization PPD Inc. sees fourth-quarter sales slide 2 percent and Q4 net income plunge 60 percent.

PPD Inc. (NSDQ:PPDI) posted fourth-quarter sales of $357.4 million for the three months ended Dec. 31, 2009, down 1.6 percent compared with $363.1 million during the same period last year. Net income fell 59.8 percent to $19 million, compared with $47.2 million during Q4 2008:

Press Release

PPD Reports Fourth Quarter and Full Year 2009 Financial Results

Highlights:

Church & Dwight's Q4 sales rise 4 percent, net income jumps 19 percent

February 9, 2010 by MassDevice staff

Church & Dwight Co. Inc. posts fourth-quarter sales of $671 million and Q4 net income of $53 million.

Church & Dwight Co. Inc. (NYSE:CHD) posted fourth-quarter sales of $670.8 million for the three months ended Dec. 31, 2009, up 4 percent compared with $644.9 million during the same period in 2008. Net income rose 19.3 percent to $52.8 million, compared with $44.2 million during Q4 2008:

Press Release

Church & Dwight Reports 2009 Earnings Per Share of $3.41

Fourth Quarter Sales and EPS Exceed Expectations

Qiagen's Q4 sales, net earnings rise by double digits

February 8, 2010 by MassDevice staff

Qiagen N.V.'s fourth-quarter sales rose 22 percent to $289 million and net earnings rose 32 percent to $44 million.

Qiagen N.V. (NSDQ:QGEN) posted fourth-quarter sales of $289.1 million for the three months ended Dec. 31, 2009, up 22 percent compared with $237.2 million during the same period in 2008. Net income rose 32 percent to $57.6 million, compared with $43.7 million during Q4 2008:

Press Release

QIAGEN Reports Strong Fourth Quarter and Fiscal 2009 Results

Fiscal 2009 Net Sales Exceed $1 Billion

Charles River Labs: Back in black

February 8, 2010 by MassDevice staff

Wilmington, Mass.-based CRO Charles River Laboratories International Inc. recovers from a rough year, but sales are still sluggish.

Less than a month after it announcing layoffs for 300 workers in Massachusetts, Charles River Laboratories International Inc. (NYSE:CRL) swung to a profit during 2009.

But it's unlikely that anyone at the Wilmington, Mass.-based contract research organization, which announced in January that it will suspend operations at its preclinical services unit in Shrewsbury, was celebrating the return to black ink.

In the fourth quarter of 2008, the company took a massive, non-cash goodwill impairment charge of $700 million, which led it to report a a $525 million loss for the year. Absent the write-down, the 2009 results looked rosier, but only on the surface.

Owens & Minor's Q4 sales tick up, earnings soar 60 percent.

February 8, 2010 by MassDevice staff

Medical device distributor Owens & Minor posted a strong fourth quarter, with sales up 4 percent to $2 billion and net income rising to $32 million.

Owens & Minor (NYSE:OMI) posted fourth-quarter sales of $2.04 billion for the three months ended Dec. 31, 2009, up 4.2 percent compared with $1.96 billion during the same period in 2008. Net income rose 60.1 percent to $32.3 million, compared with $20.2 million during Q4 2008:

Sirona's Q1 net soars as sales grow 20 percent to $31 million

February 8, 2010 by MassDevice staff

Sirona posted $31 million in first-quarter net income, up a whopping 460 percent, as Q1 sales rose to $215 million.

Sirona (NSDQ:SIRO) posted first-quarter sales of $214.8 million for the three months ended Dec. 31, 2009, up 19.5 percent compared with $179.7 million during the same period in 2008. Net income rose 460 percent to $31.2 million, compared with $5.6 million during Q1 2009:

Brooks Automation's Q1 sales rise, net losses narrow

February 5, 2010 by MassDevice staff

Semiconductor imaging components maker Brooks Automation posts a 45 percent first-quarter sales hike and narrows its Q1 net losses by 92 percent.

Brooks Automation Inc. (NSDQ:BRKS) boosted its top line and slashed losses during the first quarter.

Revenues for the Chelmsford, Mass.-based semiconductor imaging components maker neared $106.2 million for the three months ended Dec. 31, 2009, compared to revenues of $73.4 million during the same period last year. Compared with the fourth quarter last year, sales rose 65.7 percent from $64.1 million.

Brooks pared its Q1 net losses to $2.8 million, or 4 cents per diluted share, from $35.1 million, or 56 cents per diluted share, during Q1 2009. Net losses were also down sequentially from $14.5 million during Q4 2009.

Accuray's Q2 sales slide 14 percent as it slips into the red

February 5, 2010 by MassDevice staff

Second-quarter sales for Accuray Inc. fell 14 percent as it posted a Q2 net loss of $1.2 million.

Accuray Inc. (NSDQ:ARAY) posted second-quarter sales of $35.7 million for the three months ended Dec. 31, 2009, down 13.6 percent compared with $41.3 million during the same period last year. Accuray posted a net loss of $1.2 million for the quarter, compared with net income of $1.4 million during Q2 2009:

Press Release

Accuray Announces Results for Second Quarter Fiscal 2010

18 New Orders to Backlog and 11 CyberKnife Installations Drive Quarter

PerkinElmer tops forecasts with 43-cent adjusted Q4 profit

February 5, 2010 by MassDevice staff

Lab and diagnostic equipment maker PerkinElmer Inc. beats both Wall Street's and its own fourth-quarter forecasts with net income of $40 million and $498 million in Q4 revenues.

Topping both analyst's and its own prior estimates, adjusted fourth-quarter earnings at PerkinElmer Inc. (NYSE:PKI) rose handily despite a slight dip in revenues for the diagnostic and laboratory equipment maker.

Company executives said they were largely pleased with the results, noting that the Waltham, Mass.-based firm was able to top expectations in a tough market while also investing in several initiatives supporting future growth.

"We believe this balanced approach allowed us to exit 2009 stronger and better positioned strategically," CEO Robert Friel said in a press release.

Bruker: Q4 sales even higher than we thought before

February 5, 2010 by MassDevice staff

Fourth-quarter sales for Bruker Corp. are likely to be even higher than previous forecasts, sending its stock price up in after-hours trading.

When Bruker Corp. (NSDQ:BRKR) gave a presentation to analysts Jan. 13, it painted a rosy picture for its fourth-quarter results, saying revenues would exceed both its previous forecasts and analysts' expectations.

Today the Billerica, Mass.-based lab and imaging equipment maker said Q4 results will be even better than that, predicting sales in excess of $355 million for the three months ended Dec. 31, 2009. That's a 4.4 percent improvement over the $340 million in Q4 sales predicted back in January and a darn sight better than the $329.4 million Bruker posted in Q4 2008.

Edwards Lifesciences posts double-digit Q4 sales and earnings increases

February 5, 2010 by MassDevice staff

Fourth-quarter sales for Edwards Lifesciences Corp. rose 12 percent and Q4 net income jumped 25 percent.

Edwards Lifesciences Corp. (NYSE:EW) posted fourth-quarter sales of $346.7 million for the three months ended Dec. 31, 2009, up 11.9 percent compared with $309.7 million during the same period last year. Net income rose 24.9 percent to $47.6 million, compared with $38.1 million during Q4 2008:

Press Release

Edwards Lifesciences Reports Strong Fourth Quarter Results

Company Achieves Double Digit Sales Growth
2009 Transcatheter Heart Valve Sales More Than Double to $112 Million

Illumina's Q4 sales rise 10 percent but net income plummets 55 percent

February 5, 2010 by MassDevice staff

Illumina Inc. posts a fourth-quarter sales increase of 10 percent but net income plummets 55 percent to $12 million.

Illumina Inc. (NSDQ:ILMN) posted fourth-quarter sales of $167.5 million for the three months ended Jan. 3, up 9.6 percent compared with $152.8 million during the same period last year. Net income fell 55.1 percent to $11.7 million, compared with $26.1 million during Q4 2008:

Press Release

Illumina Reports Financial Results for Fourth Quarter and Fiscal Year 2009

SAN DIEGO--(BUSINESS WIRE)--Illumina, Inc. (NASDAQ:ILMN) today announced its financial results for the fourth quarter and fiscal year of 2009.

Phase Forward pays a price for prosperity

February 5, 2010 by MassDevice staff

Phase Forward Inc. swings to a fourth-quarter loss, despite posting a 22 percent increase in Q4 sales, as its pays off a buying spree.

Phase Forward Inc. (NSDQ:PFWD)‎ paid a small price for success during the fourth quarter, as mounting expenses from a flurry of acquisitions swung it into the black.

The Waltham, Mass.-based clinical data management provider reported a net loss of $68,000 for the three months ended Dec. 30, 2009, compared to more than $2 million in net income for the same period in 2008. Full-year net income fell by 38 percent to $8 million, compared with nearly $14 million during Q4 2008.

Officials attributed the bottom-line drop to non-cash expenses including a $2.3 million impairment charge and a $700,000 increase in the amortization of intangible assets resulting from acquisitions.*

Invacare's Q4, 2009 profits rise

February 4, 2010 by MedCity News

Invacare Corp.'s profits rose during the fourth quarter and full year 2009.

By Mary Vanac

ELYRIA, Ohio — Home healthcare products maker Invacare Corp. (NYSE:IVC) is closing the books on a strong financial performance in 2009 “despite a challenging reimbursement and economic environment,” chairman and CEO A. Malachi Mixon III said.

Bottom line surges 254 percent for Medical Action Industries

February 4, 2010 by MassDevice staff

Medical Action Industries posted $4 million to its bottom line during the third quarter and raised Q3 sales nearly 2 percent.

Medical Action Industries Inc. (NSDQ:MDCI) posted third-quarter sales of $73.2 million for the three months ended Dec. 31, 2009, up 1.6 percent compared with $72 million during the same period in 2008. Net income surged 245 percent to $4 million, compared with $157,000 during Q3 2009:

Press Release

Medical Action Industries Reports Strong Third Quarter 2010 Fiscal Results

Company Reports Gains in Net Income and Gross Profit; Increase in Cash Flow Facilitates a $9.7 Million Debt Reduction in the Third Quarter and a $30.7 Million Debt Reduction Year to Date

Micrus Endovascular swings to black ink during Q3

February 4, 2010 by MassDevice staff

Micrus Endovascular Corp. posted a profitable third quarter and a 24 percent increase in Q3 revenues.

Micrus Endovascular Corp. (NSDQ:MEND) posted third-quarter sales of $22.8 million for the three months ended Dec. 31, 2009, up 24.4 percent compared with $18.3 million during the same period in 2008. The company swung from a net loss of $2.3 million during Q3 2009 to net income of $3.3 million during Q3 2010:

Press Release

Micrus Endovascular Reports Fiscal Third Quarter Revenues of $22.8 Million and Diluted EPS of $0.20

Record Quarterly Revenues up 24%; Double-digit Revenue Growth in All Major Geographic Regions; Fourth Consecutive Quarter of Profitability

ConMed swings from red to black despite Q4 sales slide

February 4, 2010 by MassDevice staff

ConMed Corp. swung from red to black during the fourth quarter, posting $8.3 million in profits despite a 6 percent sales slide.

ConMed Corp. (NSDQ:CNMD) posted fourth-quarter sales of $179.2 million for the three months ended Dec. 31, 2009, down 6 percent compared with $190.6 million during the same period in 2008. Net income rose 67.9 percent to $8.3 million, compared with $5 million during Q4 2008:

Press Release

CONMED Corporation Announces Fourth Quarter and Full Year 2009 Results

Fourth Quarter Sales Increase 6.4%

Q3 Impella sales help Abiomed close in on the black

February 4, 2010 by MassDevice staff

Third-quarter sales of its Impella heart pump helped Abiomed Inc. slash its net losses again, as total Q3 sales rise 32 percent.

Abiomed Inc. (NSDQ:ABMD) continued its ride toward profitability on the back of its Impella cardiac assist device, paring its third-quarter net loss by more than 40 percent and posting a 32 percent increase in total sales.

The Danvers, Mass.-based company reported net losses of $4.6 million, or 12 cents per share, on revenues of $22.8 million during the three months ended Dec. 31, 2009, compared with net losses of $7.7 million, or 21 cents per share, on revenues of $17.3 million during Q3 2009.

Thermo Fisher posts record Q4 sales

February 3, 2010 by MassDevice staff

Thermo Fisher Scientific posts record sales during the fourth quarter, as full-year revenues slide 4 percent, and issues 2010 guidance.

Thermo Fisher Scientific Inc. (NYSE:TMO) posted record sales during the fourth quarter, but full-year sales suffered from the downturn in the capital expenditures market earlier in 2009.

The Waltham, Mass.-based lab instruments and services provider posted sales of $2.84 billion during the three months ended Dec. 31, 2009, up 7.3 percent compared with $2.65 billion during the same period in 2008. Net income slipped 4.8 percent to $273 million, or 65 cents per diluted share, compared with $287 million, or 67 cents per share, during Q4 2008.

Millipore's Q4, 2009 sales and earnings rise

February 2, 2010 by MassDevice staff

Millipore Corp. posted strong fourth-quarter and full-year results for 2009, with Q4 sales up 7 percent and 2009 revenues rising 3 percent.

Millipore Corp.'s (NYSE:MIL) focus on selling consumables rather than big-ticket capital equipment paid off during the fourth quarter and full year 2009, as the Billerica, Mass.-based lab instruments maker posted strong sales and earnings numbers.

Fourth-quarter net income rose 41.2 percent to $43.9 million, or 78 cents per diluted share, compared with $31.1 million, or 56 cents per diluted share, during Q4 2008. Sale for the three months ended Dec. 31, 2009, rose 7.4 percent to $426 million, compared with $396.8 million during the same period last year, despite there being six fewer business days during Q4 2009.

Vascular Solutions posts Q4 sales gain, earnings plunge

February 2, 2010 by MassDevice staff

A non-cash income tax boon from the 2008 fourth quarter plunges Vascular Solutions Inc.'s fourth-quarter net income 89 percent, despite a 10 percent increase in sales.

Vascular Solutions Inc. (NSDQ:VASC) posted fourth-quarter sales of $17.7 million for the three months ended Dec. 31, 2009, up 10.3 percent compared with $16.1 million during the same period in 2008. Net income fell 89 percent to $1.6 million, compared with $14.7 million during Q4 2008:

Steris Corp.'s Q3 sales and earnings rise despite FDA uncertainty

February 2, 2010 by MedCity News

Steris Corp. managed to post strong third-quarter results despite its imbroglio with the Food & Drug Administration, which is advising hospitals to stop using its System 1 sterilizer within 18 months.

By Mary Vanac

MENTOR, Ohio — Steris Corp. (NYSE:STE) reported higher operating profits and a modest increase in revenue for its fiscal third quarter over the year-ago quarter.

Bottom line dips for ICU Medical despite Q4 sales boost

February 2, 2010 by MassDevice staff

ICU Medical Inc.'s bottom line slid 18 percent during the fourth quarter, despite a 23 percent increase in Q4 revenues.

ICU Medical Inc. (NSDQ:ICUI) posted fourth-quarter sales of $69.8 million for the three months ended Dec. 31, 2009, up 23 percent compared with $56.7 million during the same period last year. Net income fell 18 percent to $7.4 million, compared with $9 million during Q4 2008:

Hologic's Q1 bottom line drops 31 percent

February 1, 2010 by MassDevice staff

Hologic Inc. writes off another $100 million in intangible assets during the first quarter of 2010, decimating its bottom line.

Hologic Inc. (NSDQ:HOLX) took another tangible hit to its bottom line, writing off about $100 million worth of intangibles during the first quarter.

In all, the Bedford, Mass.-based women's health company peeled off a little more than $100 million worth of intangible assets, an accounting term for the value of the perceived advantage a company has over its competitors. The hit, combined with another $18 million charge to adopt new changes to its accounting code, pushed Hologic's bottom line down 31 percent during the three months ended Dec. 26, 2009.

Dynatronics boosts Q2 earnings despite sales slide

February 1, 2010 by MassDevice staff

Second quarter net income rose for Dynatronics Corp., despite a Q2 sales slide.

Dynatronics Corp. (NSDQ:DYNT) posted second-quarter sales of $8.5 million for the three months ended Dec. 31, 2009, down 2.5 percent compared with $8.7 million during the same period last year. Net income rose 2.5 percent to $188,000, compared with $55,000 during Q2 2009:

Thoratec posts 19% revenue gain in 2009

January 29, 2010 by MassDevice staff

Supported by strong growth in sales of heart-assist pumps during 2009, Thoratec Corp. forecasts a 15 percent top-line increase for 2010.

Cardiac pump maker Thoratec Corp. (NSDQ:THOR) soundly beat fourth-quarter estimates but tried to rein in expectations with a relatively cautious forecast for 2010, despite recent approvals that significantly expanded the prospects for its flagship device.

Overall revenues during 2009 for the Pleasanton, Calif.-based company rose 19 percent over the prior year, reaching $373.9 million. Fourth-quarter revenues of $104.5 million also were well above year-ago levels, climbing 22 percent.

Idexx Labs posts strong Q4 results

January 29, 2010 by MassDevice staff

Fourth-quarter and full-year sales and earnings both rose for veterinary diagnostics provider Idexx Laboratories Inc.

IDEXX Laboratories Inc. (NSDQ:IDXX) posted fourth-quarter sales of $270.3 million for the three months ended Dec. 31, 2009, up 11.1 percent compared with $243.3 million during the same period last year. Net income rose 31.4 percent to $31 million, compared with $23.6 million during Q4 2008:

Abaxis posts Q3 sales, earnings increases

January 28, 2010 by MassDevice staff

Third-quarter sales and earnings rose for Abaxis Inc.

Abaxis Inc. (NSDQ:ABAX) posted third-quarter sales of $31 million for the three months ended Dec. 31, 2009, up 15 percent compared with $27 million during the same period in 2008. Net income rose 2.2 percent to $3.43 million, compared with $3.36 million during Q3 2008:

Press Release

Abaxis Reports Record Revenues for the Third Quarter of Fiscal 2010

EnteroMedics pares Q4 loss by 63 percent

January 28, 2010 by MassDevice staff

EnteroMedics Inc. pared its fourth-quarter net loss by 63 percent, to $2.9 million.

EnteroMedics Inc. (NSDQ:ETRM) posted a fourth-quarter net loss of $2.9 million for the three months ended Dec. 31, 2009, compared with a net loss of $7.8 million during the same period in 2008:

Press Release

EnteroMedics Reports Fourth Quarter and Full Year 2009 Financial
Results

ST. PAUL, Minn.--(BUSINESS WIRE)--EnteroMedics Inc., (NASDAQ: ETRM), the developer of medical devices

Omnicell's Q4 net plunges 83 percent

January 28, 2010 by MassDevice staff

Omnicell Inc.'s fourth-quarter profits plunged 83 percent to $557,000; Q4 sales dip 16 percent to $43 million.

Omnicell Inc. (NSDQ:OMCL) posted fourth-quarter sales of $42.9 million for the three months ended Dec. 31, 2009, down 16.3 percent compared with $51.3 million during the same period in 2008. Net income plunged 83.2 percent to $557,000, compared with $3.3 million during Q4 2008:

Press Release

Omnicell Announces Fourth Quarter and Full-Year 2009 Results

Cepheid's Q4 sales rise, net loss falls

January 28, 2010 by MassDevice staff

Fourth-quarter sales for Cepheid rose 30 percent to $49 million as it reduced its Q4 net loss to $4 million.

Cepheid (NSDQ:CPHD) posted fourth-quarter sales of $49.2 million for the three months ended Dec. 31, 2009, up 30.1 percent compared with $37.8 million during the same period in 2008. Cepheid pared its net loss for the quarter by 29.2 percent to $4.3 million, compared with $6.1 million during Q4 2008:

Press Release

Cepheid Reports Fourth Quarter and Full Year 2009 Results

Test Menu Expansion Drives Full Year Clinical Business Growth of 28%

Cardica halves Q4 net losses despite 64 percent sales slide

January 28, 2010 by MassDevice staff

Fourth-quarter net losses were cut in half for Cardica Inc., despite a Q4 sales slide of 64 percent.

Cardica Inc. (NSDQ:CRDC) posted second-quarter sales of $1.1 million for the three months ended Dec. 31, 2009, down 63.9 percent compared with $2.9 million during the same period in 2008. Net losses for the quarter were $2.2 million, compared with net losses of $4.7 million during Q2 2008:

Press Release

Cardica Announces Fiscal 2010 Second Quarter Financial Results

C.R. Bard boosts its 2009 bottom line by 10 percent to $461 million

January 28, 2010 by MassDevice staff

Murray Hill, N.J.-based medical devices giant C.R. Bard Inc. sees fourth-quarter net income plunge on increased taxes, but still manages to increase profits for the year.

C.R. Bard Inc. (NYSE:CRB) rode strong sales growth in its vascular and surgical specialties businesses to a 10 percent bump to its bottom line last year, despite the fact that its net income shrunk about 30 percent during the fourth quarter.

For the three months ended Dec. 31, 2009, the Murray Hill, N.J.-based medical devices giant reported a $106 million profit on $676 million in sales, down 29 percent compared to $150 million in net income on $634 million in sales for the same period last year. A more than 250 percent increase in its tax provision was the difference-maker for the firm, accounting for about $40 million in costs.

Big Q1 top-line growth for BD

January 28, 2010 by MassDevice staff

Becton, Dickinson & Co. reports a nearly 12 percent jump in first-quarter revenues and ups its profit and sales forecast for fiscal 2010.

Boosted by a $143 million jump in sales for its BD Medical segment, along with smaller rises for its diagnostics and biosciences segments, first-quarter revenues jumped 11.6 percent over year-ago levels at Becton, Dickinson and Co. (NYSE:BDX) during the three months ended Dec. 31, 2009.

Growth was strongest in sales of medical surgical systems, which climbed nearly $80 million, or 16.6 percent, to $560 million. Pharmaceutical systems and diabetes care also posted double-digit percentage gains within the medical segment during the quarter.

Encision's Q3 sales, net income slide

January 28, 2010 by MassDevice staff

Third-quarter sales for Encision Inc. dipped 3 percent to $3 million and Q3 net income plunged 36 percent to $149,000.

Encision Inc. (OTC:ECIA) posted third-quarter sales of $3.26 million for the three months ended Dec. 31, 2009, down 3.3 percent compared with $3.27 million during the same period last year. Net income fell 36.1 percent to $149,000, compared with $233,000 during Q3 2009:

Kensey Nash's Q2 sales, earnings fall

January 28, 2010 by MassDevice staff

Second-quarter sales for Kensey Nash Corp. slid 8 percent to $19 million and Q2 net income dropped 30 percent to $4 million.

Kensey Nash Corp. (NSDQ:KNSY) posted second-quarter sales of $19.1 million for the three months ended Dec. 31, 2009, down 8.3 percent compared with $20.8 million during the same period in 2008. Net income fell 30.2 percent to $3.7 million, compared with $5.2 million during Q2 2009:

Baxter's Q4, 2009 sales and earnings rise

January 28, 2010 by MassDevice staff

Baxter International Inc. posted strong sales and earnings numbers for both the fourth quarter and full-year 2009.

Baxter International Inc. (NYSE:BAX) posted sales and earnings increases for the quarter and year ended Dec. 31, 2009, fattening its Q4 bottom line despite a $56 million move to slim its operations.

The Deerfield, Ill.-based medical device maker reported fourth-quarter sales of $3.47 billion, up 10.8 percent compared with $3.13 billion during the same period in 2008. Quarterly net income ticked up half a percent to $572 million, or 94 cents per diluted share, compared with $569 million or 91 cents per diluted share during Q4 2008. The results included a $56 million after-tax hit (9 cents per diluted share) from its move to streamline operations and reflected a 15 percent spike in international sales, after the effects of foreign exchange rates were factored in.

Zoll's Q1 profits slip 20% despite increased sales of $105 million

January 28, 2010 by MassDevice staff

First-quarter profits for Zoll Medical Corp. slid 20 percent to $2 million, despite a Q1 sales increase of 18 percent.

Zoll Medical Corp. (NSDQ:ZOLL) posted a 20.2 percent decline in net income during the first quarter, despite logging a 17.6 percent sales increase, hampered by still-slow capital spending.

The Chelmsford, Mass.-based resuscitation device maker reported net income of $2.3 million, or 11 cents per share, for the three months ended Jan. 3, compared with $2.9 million, or 14 cents per share, during Q1 2009. That's despite sales of $105.2 million, compared with $89.5 million during the first quarter last year. The company had orders worth about $17 million in its pipeline at the end of the most recent quarter, more than double the amount it had at the end of Q1 2009.

Is St. Jude losing the CRM battle to Boston Scientific and Medtronic?

January 28, 2010 by MedCity News

St. Jude Medical Inc. blames lower hospital spending for a drop in sales of its pacemakers and defibrillators. There's only one problem: Its main competitors, Boston Scientific Corp. and Medtronic Inc., aren't seeing the same decline.

By Thomas Lee

LITTLE CANADA, Minnesota - It’s no secret that pacemakers and defibrillators are no longer a hot growth market. Most estimates peg global sales at growing low to mid single digits for the foreseeable future.

But for St. Jude Medical Inc, (NYSE:STJ) the question remains: How much is the company to blame for its lackluster U.S. numbers?

Varian's Q1 sales, earnings rise

January 27, 2010 by MassDevice staff

Varian Medical Systems posted $541 million in first-quarter sales, a 6 percent increase, and saw Q1 net earnings rise 15 percent to $79 million.

Varian Medical Systems (NYSE:VAR) posted first-quarter sales of $540.9 million, up 6.3 percent compared with $508.7 million during the same period last year. Net earnings rose 14.5 percent to $78.8 million, compared with $68.8 million during Q1:

Press Release

Varian Medical Systems Reports Results for First Quarter of Fiscal Year 2010

Net earnings per diluted share from continuing operations rise 13 percent to $0.63; revenues rise 6 percent to $541 million; company raises guidance for fiscal year

Abbott's Q4, 2009 vascular sales rise

January 27, 2010 by MassDevice staff

Fourth-quarter and full-year sales for Abbott's vascular medical device segment rose 9 percent and 20 percent, respectively.

Abbott (NYSE:ABT) reported strong sales for its vascular medical devices business, which posted double-digit growth during 2009 and rose 9.1 percent to $723 million during the fourth quarter, including the effects of foreign exchange rates.

The Chicago-area medical device monolith's overall sales rose 10.6 percent to $8.79 billion during the three months ended Dec. 31. For the full year, total sales reached $30.77 billion, a 4.2 percent increase when exchange rates were taken into account.

St. Jude Medical's Q4, 2009 sales and earnings rise

January 27, 2010 by MassDevice staff

St. Jude Medical Inc. swung to the black during the fourth quarter, posting sales and earnings increases for both Q4 and the full year.

Plans to pare costs paid off for St. Jude Medical Inc. (NYSE:STJ) during the fourth quarter and full year, as a restructuring program returned the St. Paul, Minn.-based medical device maker to the black for Q4.

St. Jude posted $1.2 billion in fourth-quarter sales, up 6.3 percent compared with $1.13 billion during the same period in 2008. Net earnings for the three months ended Jan. 2 were $189.7 million, or 57 cents per diluted share, compared with a net loss of $201.2 million, or 58 cents per diluted share, during Q3 2008.

Full-year sales for STJ topped $4.68 billion, a 7.3 percent increase over $4.36 billion during 2008. Net earnings for 2009 were $777.2 million ($2.26 per diluted share), compared with $353 million ($1.01 per diluted share) during the prior year.

Stryker's Q4 earnings rise 10 percent

January 27, 2010 by MassDevice staff

Big gains in orthopedic implant sales lead Stryker Corp. to a $306 million profit during the fourth quarter; full-year revenues reach $6.7 billion.

Paced by strong sales of orthopedic implants, along with more modest gains for its medical and surgery business, Stryker Corp. (NYSE:SYK) cruised to a $306 million profit during the three months ended Dec. 31, 2009.

The 10.2 percent gain on the bottom line and the 6.8 percent jump in sales over year-ago levels were supported by positive currency exchange rates, which added $73 million to fourth-quarter reported revenues. A 14.3 percent bounce in international sale during the period also worked to offset single-digit decline in domestic sales, lifting Stryker to $1.8 billion in overall revenues.

McKesson returns to black ink, sales growth during Q3

January 26, 2010 by MassDevice staff

Third-quarter sales rose 4 percent for McKesson Corp., to $28.3 billion, as it posted Q3 net income of $326 million after reporting a net loss for the year-ago quarter.

McKesson Corp. (NYSE:MCK) posted third-quarter sales of $$28.3 billion for the three months ended Dec. 31, 2009, up 4 percent compared with $27.1 million during the same period last year. Net income was $326 million, compared with a net loss of $20 million during Q3 2008:

Press Release

McKesson Corporation (NYSE:MCK) today reported that revenues for the third quarter ended December 31, 2009 were $28.3 billion compared to $27.1 billion a year ago. Third quarter earnings per diluted share was $1.19 compared to a loss of seven cents per diluted share a year ago.

Rochester Medical posts record Q1 sales but still slips into the red

January 26, 2010 by MassDevice staff

Rochester Medical Corp. posted record first-quarter sales of $10.2 million, but still slid to a Q1 net loss of about $170,000.

Rochester Medical Corp. (NSDQ:ROCM) posted record first-quarter sales of $10.2 million for the three months ended Dec. 31, 2009, up 21.3 percent compared with $8.4 million during the same period last year. Despite the record sales, Rochester Medical posted a net loss of nearly $170,000 for the quarter, compared with net income of about $54,000 during Q1 2009:

Press Release

STEWARTVILLE, Minn., Jan 26, 2010 /PRNewswire via COMTEX/ -- Rochester Medical Corporation (Nasdaq: ROCM) today announced operating results for its first quarter ended December 31, 2009.

Waters Corp.'s Q4 sales, earnings rise

January 26, 2010 by MassDevice staff

Lab instruments maker Waters Corp. posted fourth-quarter sales of $429 million, up nearly 3 percent, as it began to turn the corner on a difficult 2009 that saw revenues slide 5 percent.

Waters Corp. (NYSE:WAT) began to turn the corner on a difficult 2009 during the fourth quarter, posting revenue and profit increases during the three months ended Dec. 31.

The Milford, Mass.-based lab instruments maker said fourth-quarter sales rose 2.5 percent to $428.9 million, compared with Q4 2008 sales of $418.3 million. Net income for the quarter rose 4.8 percent to $104.1 million, or $1.08 per diluted share, compared with $99.4 million, or $1.01 per diluted share, during the fourth quarter of 2008.

Optos' 2009 sales dip 4 percent as it slides into the red after $6.3 million restructuring

January 26, 2010 by MassDevice staff

Optos plc's sales slid to $97.2 million last year as a far-reaching restructuring plan led to a net loss of $4.3 million for the full year.

Optos plc (LSE:OPTS) posted sales of $97.2 million during fiscal 2009, down 3.6 percent compared with $100.8 million during fiscal 2008, and dipped into the red after spending more than $6.3 million in a soup-to-nuts restructuring.

The British retinal imaging firm, which has operations in Marlborough, Mass., posted a net loss of $4.3 million, or 6.1 cents per diluted share, compared with net profits of $4.6 million, or 6.6 cents per diluted share, during the prior year.

Johnson & Johnson's Q4 net slumps 19 percent on restructuring charge

January 26, 2010 by MassDevice staff

Johnson & Johnson's bottom line declined 19 percent during the fourth quarter on a $1 billion restructuring charge, but its medical devices division still shined with a 12 percent Q4 sales increase.

The $1 billion Johnson & Johnson (NYSE:JNJ) spent on restructuring during the fourth quarter exacted a steep toll on its bottom line, dragging profits down 18.7 percent to $2.21 billion during the three months ended Dec. 31, 2009.

But the New Brunswick, N.J.-based health products conglomerate's medical devices division was once again a bright spot, posting sales of $6.31 billion during the quarter, up 11.8 percent compared with $5.64 billion during the same period last year. J&J said full-year sales for the segment also rose, topping $23.57 billion in 2010, a nearly 2 percent increase over the $23.13 billion posted during 2009.

Kinetic Concepts' Q4 sales, earnings rise

January 26, 2010 by MassDevice staff

Fourth-quarter sales rise 7 percent to $527 million for Kinetic Concepts Inc. and net earnings jump 34 percent to $66 million.

Kinetic Concepts Inc. (NYSE:KCI) posted fourth-quarter sales of $526.8 million for the three months ended Dec. 31, 2009, up 7 percent compared with $492.5 million during the same period in the prior year. Net earnings rose 34.3 percent to $66.3 million, compared with $49.4 million during Q4 2008:

Q2 less than perfect for Parexel

January 26, 2010 by MassDevice staff

Parexel International Corp. reports a $3.5 million second-quarter profit, down nearly a third as restructuring costs trim $14.3 million from the bottom line.

Restructuring costs cut deeply into second-quarter profits at Parexel International Corp. (NSDQ:PRXL) during the three months ended Dec. 31, with severance and related expenses costing the clinical research organization $14.3 million during the quarter.

The Waltham, Mass.-based clinical research organization recorded net income of $3.5 million, or 6 cents per share, on $284.7 million in revenues during its fiscal second period. That compares with a $5.2 million profit, or 9 cents per share, and $275.8 million in revenues during the year-ago quarter. In addition to severance payments, the bottom line was affected negatively by a client default, lease penalties associated with facility closings and a $6.1 investment impairment charge.

North American healthcare market continues to drag down Philips Healthcare

January 25, 2010 by MassDevice staff

Dutch consumer and healthcare giant Philips reports slower sales in its U.S. healthcare division during Q4, but still posts overall profits during the fourth quarter.

The U.S. healthcare market continues to under-perform for Royal Philips Electronics (NYSE:PHG), Europe's largest consumer goods company and the global leader in patient monitoring systems.

The Dutch company, which houses its U.S. healthcare division's headquarters in Andover, Mass., reported that fourth-quarter sales dropped by almost 7 percent, to $3.4 billion, for its healthcare division during the fourth quarter, compared to $3.6 billion for the same period last year. However, despite slower sales, the division still reported strong bottom-line growth, posting a $452 million EBIDTA profit, compared to $343 million for the same period last year.

Quest Diagnostics reports strong Q4, year-end results.

January 25, 2010 by MassDevice staff

Quest Diagnostics Inc. looks to buy back more stock after re-purchasing $500 million worth in 2009; reports a 25 percent jump in net income for the year.

Quest Diagnostics Inc. (NYSE:DGX) will continue to aggressively buy back shares of its own stock in 2010, after its board authorized another $750 million stock repurchasing plan on top of the more than 10 million shares it bought back last year.

GE Healthcare's Q4 profits spike 80 percent over Q3

January 22, 2010 by MassDevice staff

GE Healthcare posted strong sequential revenue and profit gains during the final three months of 2009, but full-year and Q4 numbers still lag year-ago figures.

GE Healthcare continues to recover from a sharp drop in hospital spending earlier in 2009, posting its best numbers of the year during the fourth quarter, but still trailed year-over-year comparisons during the three months ended Dec. 31.

The medical-equipment manufacturing unit at General Electric Co. (NYSE:GE) generated $4.7 billion in revenues during the quarter, up nearly $900 million from the previous three-month period. Segment profit topped the previous quarter by $403 million, or 79.3 percent, climbing from $508 million during the quarter ended Sept. 30, 2009, to $911 million over the final three months of the year.

Urologix posts Q2 sales increase, net losses decline

January 22, 2010 by MassDevice staff

Urologix Inc. posted second-quarter sales of $4 million, up 20 percent, and pared Q2 losses to $273,000.

Urologix Inc. (NSDQ:ULGX) posted second-quarter sales of $4.1 million for the three months ended Dec. 31, 2009, up 20 percent compared with $3.4 million during the same period in 2008. Urologix posted a net loss of $273,000 for the quarter, compared with a net loss of $1.1 million during Q2 2008:

Solos Endoscopy reports Q4 sales rise 9 percent over the prior quarter

January 22, 2010 by MassDevice staff

Fourth-quarter sales for Solos Endoscopy Inc. rose to $125,800, up 9 percent compared with the third quarter, putting it on track for increased full-year sales compared with 2008.

Solos Endoscopy Inc. (OTC:SNDY) reported $125,791 in fourth-quarter sales, a 9.2 percent uptick compared with its third-quarter sales.

The Boston-based company, which makes endoscopic instruments and imaging equipment, said the increase over the $115,159 worth of sales transactions it posted during Q3 2009 was consistent with its full-year results.

Somanetics posts Q4 sales increase, earnings plunge

January 21, 2010 by MassDevice staff

Somanetics Corp. posts fourth-quarter sales of $15 million, up 6 percent, but net income slides 55 percent to $2 million.

Somanetics Corp. (NSDQ:SMTS) posted fourth-quarter sales of $14.5 million for the three months ended Nov. 30, 2009, up 6.3 percent compared with $13.7 million during the same period during fiscal 2008. Net income fell 54.5 percent to $1.5 million, compared with $3.3 million during Q4 2008:

Meridian Bioscience posts double-digit Q1 sales, net earnings increases

January 21, 2010 by MassDevice staff

Meridian Bioscience's first-quarter sales rise 24 percent to $43 million; net earnings rise 11 percent to $9 million.

Meridian Bioscience Inc. posted first-quarter sales of $42.5 million for the three months ended Dec. 31, 2009, up 23.8 percent compared with $34.3 million during the same period in fiscal 2009. Net earnings rose 10.5 percent to $8.9 million, compared with $8.1 million during Q1 2009:

Press Release

CINCINNATI--(BUSINESS WIRE)--Meridian Bioscience, Inc. (NASDAQ: VIVO):

GENERAL HIGHLIGHTS

Meridian Bioscience, Inc., Cincinnati, Ohio (NASDAQ: VIVO) today:

Medical devices segment paces Covidien's 7 percent Q1 sales boost

January 20, 2010 by MassDevice staff

Covidien plc's sales rose more than 7 percent to $2.75 billion during the first quarter of fiscal 2010, paced by an 18 percent uptick for its medical devices segment.

An 18 percent uptick in revenues from its medical devices segment drove a 7.2 percent sales boost for Covidien plc (NYSE:COV) during the first quarter of fiscal 2010, despite increases in sales, marketing and research & development spending.

The Mansfield, Mass.-based medical device monolith posted sales of $2.75 billion during the three months ended Dec. 25, 2009, compared with $2.56 billion during the same period last year. Net income for the quarter rose to $412 million (82 cents per diluted share), up 6.7 percent compared with $386 million (76 cents per diluted share) during the three months ended Dec. 26, 2008.

Caliper beats Q4 revenue guidance

January 14, 2010 by MassDevice staff

Caliper Life Sciences released its preliminary revenue results for the fourth quarter, saying the $37.6 million it expects to post in Q4 sales will beat it previous revenue guidance.

Caliper Life Sciences Inc. (NSDQ:CALP) said it expects to beat its own expectations for the fourth quarter's top line, reporting preliminary revenues of $37.6 million for the three months ended Dec. 31, 2009.

The Hopkinton, Mass.-based lab equipment and services provider credited stronger-than-expected sales of its Ivis and LabChip instruments for the boon, along with license revenues from the deal it announced last week with Becton, Dickinson & Co. (NYSE:BDX). Caliper had predicted sales of between $33 million and $35 million for the quarter.

Osteotech reports preliminary Q4 sales rose 7 percent

January 14, 2010 by MassDevice staff

Preliminary fourth-quarter sales results for Osteotech Inc. show a 7 percent increase over the same period in 2008.

Osteotech Inc. (NSDQ:OSTE) posted preliminary fourth-quarter sales of $26.3 million and preliminary revenues of $96.7 million for 2009:

Press Release

Bruker Corp. says Q4 revenues will beat both 2008 and analysts' expectations

January 13, 2010 by MassDevice staff

Fourth-quarter revenues at Bruker Corp. are likely to beat its year-ago numbers and the expectations of analysts, according to a preliminary count by the Billerica, Mass.-based manufacturer of laboratory equipment.

Bruker Corp. (NSDQ:BRKR) likely generated more than $340 million in revenues during the fourth quarter, beating both year-ago levels and consensus analyst opinion for the period, according to company officials.

The preliminary revenue figures for the three months ended Dec. 31, 2009, were reported Jan. 13 as part of an investor presentation by Bruker executives at the J.P. Morgan Healthcare Conference in San Francisco. During their prepared remarks, CEO Frank Laukien and chief accounting officer Brian Monahan said the firm finished 2009 with a "healthy" order backlog and is beginning to see a gradual recovery in industrial orders.

ATS Medical’s stock plummets on Q4 loss projections

January 12, 2010 by MedCity News

ATS Medical Inc.'s stock fell 18 percent after it announced it expects to post fourth-quarter and full-year losses.

By Brandon Glenn

PLYMOUTH, Minnesota — Cardiology device maker ATS Medical Inc.'s (NSDQ:ATSI) stock plummeted 18 percent in early afternoon trading Jan. 12, a day after the company announced it expects losses for the fourth quarter and full year of 2009.

The company blamed the worse-than-expected projections on slow growth in its heart valve and heart surgery businesses, according to a statement. Its share price had fallen to $2.65 early Tuesday afternoon, after closing the prior day at $3.24.

Hanger Orthopedic releases preliminary Q4 results, announces relocation

January 12, 2010 by MassDevice staff

Hanger Orthopedic Group released preliminary fourth-quarter sales and earnings results and announced its relocation from Bethesda, Md., to Austin, Texas.

Hanger Orthopedic Group (NYSE:HGR) posted preliminary fourth-quarter sales of $205 million and announced it's relocation from Bethesda, Md., to Austin, Texas:

Press Release

Stryker's Q4 sales rise 7 percent

January 12, 2010 by MassDevice staff

Stryker Corp. released preliminary fourth-quarter sales numbers showing a 7 percent Q4 revenue spike and flat sales for the full year.

Stryker Corp. (NYSE:SYK) closed 2009 on a high note, according to its preliminary sales figures, with revenues rising nearly 7 percent during the three months ended Dec. 31.

The Kalamazoo, Mich.-based medical device maker said sales for the full year were flat, rising 0.1 percent to $6.72 billion compared with 2008. Stryker's deal with Acacia Research Corp. (NSDQ:ACRI) subsidiary Hospital Systems Corp. to license the latter's medical picture archiving and communication system technology resulted in the settlement of a patent infringement lawsuit — and a net gain of $43 million for Stryker.

Parexel International boosts Q2 earnings forecast

January 11, 2010 by MassDevice staff

Reversing previous predictions, contract researcher organization Parexel International Corp. expects improved earnings for the second quarter ended last month and for calendar year 2010.

Contract research lab Parexel International Corp. (NASQ:PRXL) boosted its forecast for the three months ended Dec. 31, 2009, and for calendar 2010, reversing downbeat predictions made in October.

The Boston-based contract research organization is now saying it expects to report net earnings of between $3.5 million and $4.6 million on revenues of up to $285 million during the second quarter. It also issued its initial forecast for calendar 2010, predicting profits of between $35 million and about $40.5 million on between $1.115 billion and $1.145 billion in revenues for the 12-month period.

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