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Respironics Takes a Dip

Shares fall after revenue misses estimates.



saw its shares fall after third-quarter revenue disappointed investors.

Sales for the quarter were $266.6 million, up 11% from the year-ago period. However, analysts were expecting sales of $274.7 million. Sleep-therapy products accounted for $153.9 million of the total, a 17% increase.

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Shares of Respironics fell 6.6% to $35.97.

Respironics earned $22.1 million, or 30 cents a share, including 3 cents of stock-compensation expenses. Profits were in line with estimates and up from 25 cents last year.

Domestic revenue was up 9% to $181.6 million during the quarter, and international revenue reached $85 million, up 15%.