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Greatbatch slips to loss in Q3 with Swiss plant closure costs

Mon, 10/29/2012 - 3:49pm
Mass Device

Greatbatch's increases 22% during its 3rd quarter, but the medical device maker posts net losses of $ 7.6 million in due to operational issues at its Swiss facilities.

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Medical device maker Greatbatch (NYSE:GB) lost $7.6 million in 3Q, the result of the nearly $15 million in expense to close a pair of Swiss factories.

The Clarence, N.Y.-based company lost 32¢ per share, on sales of $161.3 million during the 3 months ended Sept. 28, 2012. That compared with a profit of $7 million, or 30¢ per share, on sales of $131.7 million during the same period last year.

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