Disposable products developer Merit Medical Systems reported revenue and net income increases in its 2017 fourth-quarter and year-end results (end-December 31).
The company's revenue in the fourth quarter rose to $190.9 million, an increase of 21% from $157.7 million in the same period of 2016. Its revenue for the year also increased to $727.9 million, up 20.5% from $603.8 million the previous year.
Net income for the fourth quarter saw a slight dip to $6.8 million, compared with $7.5 million for the same period in 2016. However, net income for the year was $64.3 million, a considerable increase from $45.1 million a year ago.
Looking ahead, the company plans to transition its recently purchased product lines from Becton Dickinson (BD) to Merit's facilities, said CEO Fred Lampropoulos. Expenses for the transition may lead to irregular earnings over the next six to nine months.
