Natus Medical Announces Fourth Quarter And Full Year 2011 Results

Natus Medical Incorporated (Nasdaq:BABY) today announced financial results for the fourth quarter and full year ended December 31, 2011.

For the fourth quarter ended December 31, 2011, Natus reported revenue of $64.1 million, compared to $63.2 million reported in the comparable quarter of the previous year. The Company reported a loss of $17.3 million, or $0.60 per share, for the fourth quarter of 2011, compared with net income of $5.2 million, or $0.18 per diluted share, for the fourth quarter of 2010.

For the year ended December 31, 2011, Natus reported revenue of $232.7 million, compared to $218.7 million reported in 2010. Net loss was $11.7 million, or $0.41 per share for the year ended December 31, 2011, compared to net income of $11.9 million, or $0.41 per diluted share in 2010.

Results for the 2011 fourth quarter and full year include a $20 million non-cash goodwill impairment charge for the Company’s European operations.

On a non-GAAP basis the Company reported net income of $4.1 million, or $0.14 per diluted share, for the fourth quarter of 2011, compared with net income of $7.0 million, or $0.24 per diluted share, for the fourth quarter of 2010, and net income of $14.0 million, or $0.47 per diluted share, for the full year 2011, compared with net income of $19.0 million, or $0.65 per diluted share, for the full year 2010.

In commenting on the fourth quarter revenue results, Jim Hawkins, Chief Executive Officer of the Company said, “During the fourth quarter we experienced a strong rebound in our business with revenue of $64.1 million compared to $51.3 million reported for the third quarter and just shy of our $65 million guidance.”

“I am pleased to report that recently acquired Embla Systems had an excellent quarter as did our newborn care group,” added Hawkins. “We continue to expect Embla to be accretive to earnings in 2012, adding approximately eight cents to non-GAAP earnings per share.”

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