“I am also pleased to report that the introduction of our first incubator into the U.S. market is attracting a lot of interest. We remain convinced the incubator market will be an area of solid growth for Natus in the years ahead,” said Hawkins.
As of June 30, 2012, the Company had cash, cash equivalents, and short-term investments of $17 million, stockholders' equity of approximately $259 million, and working capital of approximately $111 million. On June 28, the Company borrowed $31 million on its line of credit and used approximately $27 million of its existing cash to fund the Nicolet acquisition. The approximate $58 million purchase consideration will be reported as a deposit on the Company’s June 30, 2012 balance sheet.
Natus updated its 2012 financial guidance. For the full year 2012, the Company expects to report revenue of $295 million to $300 million and non-GAAP earnings per share of $0.58 to $0.63. The Company had earlier said that it expected to report revenue of $256 million to $262 million and non-GAAP earnings per share of $0.57 to $0.62 without giving effect to the Nicolet acquisition.For the third quarter of 2012, the Company expects to report revenue of $80 million to $82 million and non-GAAP earnings per share of $0.12 to $0.14. This compares to revenue of $51.3 million and non-GAAP earnings per share of $0.07 reported in the third quarter of 2011. For the fourth quarter of 2012, the Company expects to report revenue of $94.5 million to $97.5 million and non-GAAP earnings per share of $0.27 to $0.30. This compares to revenue of $64.1 million and non-GAAP earnings per share of $0.14 reported in the fourth quarter of 2011. The Company's full year 2012 and quarterly non-GAAP earnings per share guidance exclude the following charges:
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