SAN CARLOS, Calif. (AP) ¿ Natus Medical Inc. said Monday that its profit slipped in the third quarter on increased operating expenses and acquisition-related costs.
The maker of medical devices used for newborn care earned $3.7 million, or 13 cents per share, for the three months ended Sept. 30. That's down 23 percent from $4.8 million, or 17 cents per share, a year earlier.
Quarterly results included acquisition costs of $460,000 related to the purchases of Hawaii Medical LLC in July and Alpine Biomed in September. Removing these costs, Natus earned 14 cents per share for the quarter.
Revenue increased 6 percent to $44.3 million from $41.7 million on improved product demand.The performance beat the 11 cents-per-share estimate on revenue of $38.5 million of analysts polled by Thomson Reuters. Analysts' estimates normally exclude one-time items. The company's results were pulled down by higher operating expenses of $21.6 million. The company reported expenses of $18.9 million last year.