Natus Medical Incorporated (Nasdaq:BABY) today announced financial results for the fourth quarter and full year ended December 31, 2012.
For the fourth quarter ended December 31, 2012, Natus reported revenue of $90.5 million, compared to $64.1 million reported in the comparable quarter of the previous year. The Company reported net income of $4.8 million or $0.16 per diluted share for the fourth quarter 2012, compared to a loss of $17.3 million, or a loss of $0.61 per share, for the fourth quarter of 2011.
For the year ended December 31, 2012, Natus reported revenue of $291.7 million, compared to $232.7 million reported in 2011. Net income was $3.6 million, or $0.12 per diluted share for the year ended December 31, 2012, compared to a loss of $11.7 million, or a loss of $0.41 per share in 2011.
On a non-GAAP basis the Company reported net income of $8.6 million, or $0.29 per diluted share, for the fourth quarter of 2012, compared with net income of $4.1 million, or $0.14 per diluted share, for the fourth quarter of 2011, and net income of $18.4 million, or $0.62 per diluted share, for the full year 2012, compared with net income of $14.0 million, or $0.47 per diluted share, for the full year 2011.“I am pleased with our record fourth quarter non-GAAP profitability and improved gross profit margin,” said Jim Hawkins, Chief Executive Officer of the Company, “Although delayed orders and softness in some international markets and in our domestic neurology business caused our revenue to come in below guidance, organic revenue still grew approximately 2.3% on a year-over-year basis. We believe our fourth quarter results reflect improved operating efficiencies at Natus. We remain committed to achieving our goal of a 12% non-GAAP pretax profit for fiscal 2013.” “We successfully integrated the Nicolet sales organization into Natus during the fourth quarter, creating what we believe to be the largest sales and service organization in the world selling into the neurodiagnostic market,” said Hawkins. “After first entering this market only seven years ago, we have now become the worldwide market leader. We are very proud of this accomplishment.”