Led by a strong increase in cardiovascular device sales, disposable products developer Merit Medical Systems achieved nearly 25% growth in worldwide revenues in its second quarter.
For the period (end-June 30), Merit had worldwide revenues of $186.5 million, up 23.5% on a nominal basis and up 24.9% on a currency-comparable basis, compared with the $151.1 million recorded in the second quarter of 2016. Cardiovascular device sales climbed 23.5% during the quarter, while sales of endoscopy devices increased by 22.9%, according to the firm.
Merit had generally accepted accounting principles (GAAP) net income of $9.5 million, up from $7.3 million a year ago. Non-GAAP net income reached $18.3 million, compared with $11.5 million in last year's second quarter.
