“During January, Natus announced and then successfully closed the acquisition of the Grass Technology Products Group, a provider of clinically differentiated neurodiagnostic and monitoring products,” said Hawkins. “This acquisition expands our presence in certain international markets, adds to our disposable product offering, and provides Natus with an entry into the research segment of the neurodiagnostic market.”
“Natus remains one of the fastest growing medical device companies in the world. With strong earnings growth and an emphasis on generating cash in 2013, we are enthusiastic about our prospects in the year ahead,” added Hawkins.
Natus reiterated its financial guidance for 2013.For the full year 2013, the Company expects to report revenue of $362 million to $367 million and non-GAAP earnings per share of $0.81 to $0.84. For the first quarter of 2013, the Company expects to report revenue of $83 million to $85 million and non-GAAP earnings per share of $0.09 to $0.10. The revenue and non-GAAP earnings per share guidance include the impact of the acquisition of the Grass Technologies Product Group. The guidance does not give effect to the impact of any other potential future acquisitions. The Company’s non-GAAP earnings per share guidance excludes charges for amortization expense associated with intangible assets from prior acquisitions and the Grass Technologies acquisition, which the Company expects to be approximately $6.4 million and $1.6 million for the full year and first quarter 2013, respectively, and which the Company expects will reduce GAAP earnings per share by approximately $0.14 and $0.03 for the respective periods. In addition, the non-GAAP earnings per share guidance excludes the effects of restructuring charges that the Company expects to incur in 2013 associated with recent acquisitions, the amount and timing of which have not yet been determined, and acquisition-related expenses associated with the Grass Technologies acquisition.