Natus Medical Announces 2012 Annual And First Quarter Financial Guidance

Natus Medical Incorporated (Nasdaq:BABY) today announced its financial guidance for the first quarter and full year 2012.

For the full year 2012, the Company expects to report revenue of approximately $260 million and non-GAAP earnings per share of approximately $0.60. For the first quarter of 2012, the Company expects to report revenue of approximately $60 million and non-GAAP earnings per share of approximately $0.07.

In commenting on the Company’s financial guidance for 2012, Jim Hawkins, Chief Executive Officer of Natus said, “Our strong first quarter in 2011 presents a challenging comparison for this year’s first quarter. However, for our full year 2012 we look for solid earnings growth as we continue to execute on our strategy of organic growth and accretive acquisitions. We expect our profitability to improve throughout the year as we benefit from continued cost cutting measures and the integration of Embla into our operations. As we have communicated recently, we are focused on driving profitability and operating margins to historic levels.”

The Company’s non-GAAP earnings per share guidance excludes the following charges:
  • Amortization expense associated with acquisition-related intangible assets, which the Company expects to be approximately $5.2 million and $1.3 million for the full year and first quarter 2012, respectively, and which the Company expects will reduce GAAP earnings per share by approximately $0.11 and $0.03 for the respective periods.
  • A charge of approximately $1.0 million in the second half of 2012 to write off the cost of previously capitalized internally developed software costs due to the Company’s implementation of a world-wide enterprise resource planning platform in 2012. The Company expects this charge will reduce GAAP earnings per share by approximately $0.02.

In addition, the non-GAAP earnings per share guidance excludes the effects of restructuring charges that the Company expects to incur in 2012 associated with recent acquisitions, the amount and timing of which have not yet been determined, as well as the impact any future acquisitions might have on its results of operations.

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