Cardiac Science takes charge to replace devices
Cardiac diagnostics company Cardiac Science Corp. said Monday it will replace about 24,0000 automatic external defibrillators used by emergency first responders like police and firefighters.
The Bothell, Wash., company said that will add $10 million to $15 million to an $18.5 million expense the company declared last November for corrective action on the devices. Cardiac Science expects to take a charge to its second-quarter earnings for the additional expense.
The company said the devices have electronic components that may fail, and frequent use of the devices, which can happen with first responders, "may introduce a slightly higher probability" of that happening.
For devices not used by first responders, the company is providing a software update that boosts their ability to detect a failure.
Cardiac Science shares rose 18 cents to $1.31 in Monday afternoon trading.