Disposable products provider Merit Medical Systems said it anticipates that third-quarter revenues will be below market expectations. Revenues for the third quarter (end-September 30) will be in the $35 million to $36 million range, below expectations but approximately 3% higher than the same quarter last year, according to the South Jordan, UT-based firm.
Earnings are expected to be in the 14¢ to 15¢ range, Merit said. The company attributed the revenues and earnings shortfall to reduced demand for its products during the quarter, due primarily to fewer procedures being conducted, an increase in competitive pressures, and to a lesser extent, weather-related disturbances in the southeastern U.S.
Merit will report its actual third-quarter results on October 26 at the close of the market.
By AuntMinnie.com staff writers
October 13, 2004
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