Natus Medical plunges on missed Q2 sales
Natus Medical's preliminary sales results for the 2nd quarter miss its own forecast, sending share prices down more than 12% today on Wall Street.
The San Carlos, Calif.-based company said it expects to post sales of $81 million to $82 million for the 3 months ended June 30, down 5.8%-8.9% from its prior guidance of $86 million to $90 million.
"Weakness in our International markets, particularly Europe, led to an unexpected decline in revenue late in the second quarter," CEO Jim Hawkins said in prepared remarks. "Domestic revenue was within our expectations."