Zoll 4Q profit rises as LifeVest sales climb
Resuscitation device maker Zoll Medical Corp. said Wednesday its profit grew 65 percent in the fiscal fourth quarter on strong sales of its LifeVest device.
Earnings rose to $11.9 million, or 52 cents per share, in the three months ended Oct. 2. A year earlier it reported net income of $7.2 million, or 33 cents per share. Revenue climbed 26 percent, to $151.9 million from $120.4 million.
Analysts expected Zoll to post a profit of 49 cents per share and $142.3 million in revenue, according to FactSet.
Zoll said sales of LifeVest, which is a wearable defibrillator, rose 57 percent to $111 million. Sales of its temperature management devices grew to $26 million from $18.9 million. Sales of its AutoPulse automated chest compression device edged down to $17.3 million from $17.5 million.
The company said sales to North American hospitals rose 8 percent to $110.7 million, and North American military sales jumped 41 percent to $32 million. International sales picked up 24 percent to $144.6 million.
Zoll said its fiscal-year profit increased 65 percent to $31.3 million, or $1.39 per share, from $18.9 million, or 87 cents per share. Revenue rose 18 percent, to $523.7 million from $444 million.
The company expects sales to grow 17 to 19 percent in fiscal 2012, which implies a total of $612.7 million to $623.2 million. Analysts expect $603.5 million in revenue on average.
Zoll also said it plans to buy back up to $50 million in stock. The company had about 22.8 million shares on the market during the fiscal fourth quarter.
Shares of Zoll Medical fell $2.01, or 5.3 percent, to close at $35.66. In aftermarket trading the stock gained $2.79, or 7.8 percent, at $38.45.