Natus Medical Incorporated (NASDAQ:BABY) today announced financial results for the three and six months ended June 30, 2012.
For the second quarter ended June 30, 2012, the Company reported revenue of $61.0 million, compared to $58.1 million in the comparable quarter of the previous year. Net income was $445,000, or $0.01 per diluted share, compared with net income of $2.4 million, or $0.08 per diluted share for the second quarter of 2011.
For the six months ended June 30, 2012, the Company reported revenue of $120.5 million, compared to $117.2 million in the comparable period of the previous year. Net income was $803,000, or $0.03 per diluted share, compared with net income of $5.5 million, or $0.18 per diluted share in for the first half of 2011.
The Company reported non-GAAP earnings per share of $0.12 per diluted share for the second quarter of 2012 compared to $0.13 per diluted share for the second quarter of 2011 and $0.18 per diluted share for the six months ended June 30, 2012, compared to $0.26 per diluted share for the same period in the previous year.“I am pleased to report on the excellent execution by our operating teams in the second quarter,” said Jim Hawkins, Chief Executive Officer of the Company. “Our non-GAAP earnings came in at the high end of the guidance range while our revenue was in line with our guidance. This was a considerable achievement, given the efforts that were also underway throughout the quarter related to the Nicolet acquisition.” “Prior to the close of the acquisition on July 2nd, the Natus team completed the Nicolet integration and operating plans as well as the carve-out of the business from CareFusion,” added Hawkins. “With this acquisition, Natus is now the leading provider of products into the worldwide neurodiagnostic market. We have market leading positions in EEG, EMG, and PSG in both the United States and abroad. While we expect Nicolet to be marginally accretive to our non-GAAP earnings in the fourth quarter, we expect it to be substantially accretive throughout 2013.”