Natus Medical Incorporated (Nasdaq:BABY) today announced financial results for the three and nine months ended September 30, 2012.
For the third quarter ended September 30, 2012, the Company reported revenue of $80.7 million, compared to $51.3 million in the comparable quarter of the previous year. Net loss was $1.9 million, or a net loss of $0.07 per share, compared with net income of $154,000 or $0.01 per diluted share for the third quarter of 2011.
For the nine months ended September 30, 2012, the Company reported revenue of $201.2 million, compared to $168.5 million in the comparable period of the previous year. Net loss was $1.1 million, or $0.04 per share, compared with net income of $5.6 million, or $0.19 per diluted share, for the nine months ended September 30, 2011.
The Company reported non-GAAP earnings per share of $0.15 per diluted share for the third quarter of 2012 compared to $0.07 per diluted share for the third quarter of 2011, and $0.33 per diluted share for the nine months ended September 30, 2012, compared to $0.34 per diluted share for the same period in the previous year.“I am pleased with our third quarter results as our non-GAAP earnings exceeded our expectations and revenue was in line with our guidance,” said Jim Hawkins, Chief Executive Officer of the Company. “During the quarter we completed the acquisition of the Nicolet business from CareFusion. This is the most significant acquisition in the history of the Company. Natus is now the leading provider of products into the worldwide neurodiagnostic market, with market-leading positions in EEG, EMG, and PSG technologies in both the United States and abroad,” added Hawkins. “In the third quarter we also initiated the reorganization of the Company into two Strategic Business Units: Natus Newborn Care and Natus Neurology. As we drive Natus towards our goal of $500 million in annual revenue, the new SBU structure will give added focus to our business,” said Hawkins.