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.