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."