Disposable products provider Merit Medical Systems has reported fourth-quarter revenues of $39.3 million, up 12% compared to the $35.1 million posted a year ago.
For the quarter (end-December 31), the South Jordan, UT-based company also reported a net income of $4.3 million. Earnings per share for the fourth quarter were negatively impacted by a one-time $665,000 severance expense relating to Sarbanes-Oxley compliance.
For 2004 the company reported record revenues of $151.4 million, an 11% increase compared to the $136.0 million for 2003. Sales were also up in the fourth quarter, including 14% growth in the catheter market and 13% in standalone devices.
In November 2004, Merit acquired MedSource. The company also spent $15.8 million last year on facility expansions in South Jordan and Galway, Ireland.
By AuntMinnie.com staff writers
March 9, 2005
Related Reading
Merit Q3 shows revenue gain, October 27, 2004
Merit Q3 to fall below expectations, October 13, 2004
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