ICU Medical, Inc. (Nasdaq:ICUI), a leader in the development,
manufacture and sale of innovative medical devices used in infusion
therapy, oncology and critical care applications, today announced
financial results for the second quarter ended June 30, 2016.
Second Quarter 2016 Results
Second quarter 2016 revenue was $96.7 million, compared to $83.8
million in the same period last year. GAAP net income for the
second quarter of 2016 was $16.6 million, or $0.98 per diluted
share, as compared to GAAP net income of $13.6 million, or $0.83
per diluted share, for the second quarter of 2015. Adjusted
diluted earnings per share for the second quarter of 2016 were
$1.15 as compared to $0.97 for the second quarter of 2015. Also,
adjusted EBITDA was $33.1 million for the second quarter of 2016 as
compared to $28.1 million for the second quarter of
2015. Vivek Jain, ICU Medical's Chief Executive Officer,
said, "We are pleased with our revenue, adjusted EBITDA and net
income results in the second quarter as we achieved growth in both
our direct and OEM channels."
Revenues by market segment for the three months ended
June 30, 2016 and 2015 were as follows:
|
|
(dollars in millions) |
|
|
Three months ended June 30, 2016 |
|
Three months ended June 30, 2015 |
|
|
Market Segment |
|
Direct |
|
OEM |
|
Total |
|
Direct |
|
OEM |
|
Total |
|
Total Change |
Infusion Therapy |
|
$ |
38.5 |
|
|
$ |
32.1 |
|
|
$ |
70.6 |
|
|
$ |
31.5 |
|
|
$ |
26.7 |
|
|
$ |
58.2 |
|
|
$ |
12.4 |
|
Oncology |
|
|
8.9 |
|
|
|
3.8 |
|
|
|
12.7 |
|
|
|
6.0 |
|
|
|
4.2 |
|
|
|
10.2 |
|
|
|
2.5 |
|
Critical Care |
|
|
13.2 |
|
|
|
- |
|
|
|
13.2 |
|
|
|
14.9 |
|
|
|
0.2 |
|
|
|
15.1 |
|
|
|
(1.9 |
) |
Other |
|
|
0.2 |
|
|
|
- |
|
|
|
0.2 |
|
|
|
0.2 |
|
|
|
0.1 |
|
|
|
0.3 |
|
|
|
(0.1 |
) |
|
|
$ |
60.8 |
|
|
$ |
35.9 |
|
|
$ |
96.7 |
|
|
$ |
52.6 |
|
|
$ |
31.2 |
|
|
$ |
83.8 |
|
|
$ |
12.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Company ended the second quarter of 2016 with a strong
balance sheet. As of June 30, 2016, cash, cash equivalents and
investment securities totaled $400.6 million and working capital
was $494.8 million. Additionally, the Company generated operating
cash flow of $24 million for the second quarter of 2016.
Fiscal Year 2016 Guidance Update
For the year, the Company expects revenue to be in the range of
$360 million to $370 million, adjusted diluted earnings per share
to be in the range of $4.45 to $4.60, and adjusted EBITDA to be in
the range of $127 million to $131 million.
Recently Adopted Accounting Standard
During the second quarter of 2016, the Company adopted the
Financial Accounting Standards Board's Accounting Standard Update
("ASU") 2016-09, Improvements to Employee Share-Based Payment
Accounting, effective January 1, 2016. The net impact of
adopting ASU 2016-09 on net income per share is $0.03 and $0.14 for
the three and six months ended June 30, 2016, respectively.
Conference Call
The Company will host a conference call to
discuss second quarter 2016 financial results today at 4:30 p.m.
EDT (1:30 p.m. PDT). The call can be accessed at (800)
936-9761, international (408) 774-4587, conference ID 47410642. The
conference call will be simultaneously available by webcast, which
can be accessed by going to the Company's website at
www.icumed.com, clicking on the Investors tab, clicking on the
Webcast icon and following the prompts. The webcast will also be
available by replay.
About ICU Medical, Inc.
About ICU Medical, Inc. (Nasdaq:ICUI) develops, manufactures and
sells innovative medical devices used in vascular therapy, oncology
and critical care applications. ICU Medical’s products improve
patient outcomes by helping prevent bloodstream infections and
protecting healthcare workers from exposure to infectious diseases
or hazardous drugs. The company’s complete product line includes
custom IV systems, closed delivery systems for hazardous drugs,
needlefree IV connectors, catheters and cardiac monitoring systems.
ICU Medical is headquartered in San Clemente, California. More
information about ICU Medical, Inc. can be found at
www.icumed.com.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such statements contain words such as ''will,''
''expect,'' ''believe,'' ''could,'' ''would,'' ''estimate,''
''continue,'' ''build,'' ''expand'' or the negative thereof or
comparable terminology, and may include (without limitation)
information regarding the Company's expectations, goals or
intentions regarding the future, including our full year 2016
guidance. These forward-looking statements are based on
Management's current expectations, estimates, forecasts and
projections about the Company and assumptions Management believes
are reasonable, all of which are subject to risks and uncertainties
that could cause actual results and events to differ materially
from those stated in the forward-looking statements. These risks
and uncertainties include, but are not limited to, decreased demand
for the Company's products, decreased free cash flow, the inability
to recapture conversion delays or part/resource shortages on
anticipated timing, or at all, changes in product mix, increased
competition from competitors, lack of continued growth or improving
efficiencies and unexpected changes in the Company's arrangements
with its largest customers. Future results are subject to risks and
uncertainties, including the risk factors, and other risks and
uncertainties, described in the Company's filings with the
Securities and Exchange Commission, which include those in the
Annual Report on Form 10-K for the year ended December 31, 2015.
Forward-looking statements contained in this press release are made
only as of the date hereof, and the Company undertakes no
obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or
otherwise.
|
ICU MEDICAL, INC. AND
SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(In
thousands) |
|
|
June 30, 2016(unaudited) |
|
December 31, 2015(1) |
|
|
ASSETS |
|
|
|
CURRENT ASSETS: |
|
|
|
Cash and cash
equivalents |
$ |
372,895 |
|
|
$ |
336,164 |
|
Investment
securities |
|
27,720 |
|
|
|
41,233 |
|
Cash,
cash equivalents and investment securities |
|
400,615 |
|
|
|
377,397 |
|
Accounts receivable,
net |
|
60,487 |
|
|
|
57,847 |
|
Inventories |
|
49,919 |
|
|
|
43,632 |
|
Prepaid income
taxes |
|
12,072 |
|
|
|
14,366 |
|
Prepaid expenses and
other current assets |
|
8,092 |
|
|
|
7,631 |
|
Assets held for
sale |
|
4,209 |
|
|
|
4,134 |
|
TOTAL
CURRENT ASSETS |
|
535,394 |
|
|
|
505,007 |
|
|
|
|
|
PROPERTY AND EQUIPMENT,
net |
|
79,704 |
|
|
|
74,320 |
|
GOODWILL |
|
6,245 |
|
|
|
6,463 |
|
INTANGIBLE ASSETS,
net |
|
23,183 |
|
|
|
23,936 |
|
DEFERRED INCOME
TAXES |
|
18,853 |
|
|
|
17,099 |
|
TOTAL ASSETS |
$ |
663,379 |
|
|
$ |
626,825 |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
CURRENT
LIABILITIES: |
|
|
|
Accounts payable |
$ |
18,853 |
|
|
$ |
13,670 |
|
Accrued
liabilities |
|
21,759 |
|
|
|
28,948 |
|
TOTAL
CURRENT LIABILITIES |
|
40,612 |
|
|
|
42,618 |
|
|
|
|
|
LONG-TERM
LIABILITIES |
|
1,288 |
|
|
|
1,476 |
|
DEFERRED INCOME
TAXES |
|
3,764 |
|
|
|
1,372 |
|
INCOME TAX
LIABILITY |
|
1,488 |
|
|
|
1,488 |
|
COMMITMENTS AND
CONTINGENCIES |
|
- |
|
|
|
- |
|
STOCKHOLDERS’
EQUITY: |
|
|
|
Convertible preferred
stock |
|
- |
|
|
|
- |
|
Common stock |
|
1,618 |
|
|
|
1,608 |
|
Additional paid-in
capital |
|
149,344 |
|
|
|
145,125 |
|
Treasury stock |
|
(4,471 |
) |
|
|
- |
|
Retained earnings |
|
488,662 |
|
|
|
453,896 |
|
Accumulated other
comprehensive loss |
|
(18,926 |
) |
|
|
(20,758 |
) |
TOTAL
STOCKHOLDERS' EQUITY |
|
616,227 |
|
|
|
579,871 |
|
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY |
$ |
663,379 |
|
|
$ |
626,825 |
|
|
(1) December 31, 2015 balances were derived from audited
consolidated financial statements. |
ICU MEDICAL, INC. AND
SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF
INCOME (Unaudited)(In thousands, except per share
data) |
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2016 |
|
|
|
2015 |
|
|
|
2016 |
|
|
|
2015 |
|
REVENUES: |
|
|
|
|
|
|
|
Net
sales |
$ |
96,712 |
|
|
$ |
83,662 |
|
|
$ |
186,561 |
|
|
$ |
164,985 |
|
Other |
|
9 |
|
|
|
119 |
|
|
|
15 |
|
|
|
280 |
|
TOTAL REVENUE |
|
96,721 |
|
|
|
83,781 |
|
|
|
186,576 |
|
|
|
165,265 |
|
COST OF GOODS SOLD |
|
46,589 |
|
|
|
40,020 |
|
|
|
87,211 |
|
|
|
78,990 |
|
GROSS
PROFIT |
|
50,132 |
|
|
|
43,761 |
|
|
|
99,365 |
|
|
|
86,275 |
|
OPERATING
EXPENSES: |
|
|
|
|
|
|
|
Selling,
general and administrative |
|
22,491 |
|
|
|
20,318 |
|
|
|
44,466 |
|
|
|
40,492 |
|
Research
and development |
|
3,338 |
|
|
|
3,122 |
|
|
|
6,651 |
|
|
|
7,430 |
|
Restructuring and strategic transaction |
|
1,533 |
|
|
|
- |
|
|
|
1,533 |
|
|
|
- |
|
Legal
settlement |
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
7,059 |
|
TOTAL OPERATING
EXPENSES |
|
27,362 |
|
|
|
23,440 |
|
|
|
52,650 |
|
|
|
54,981 |
|
INCOME FROM
OPERATIONS |
|
22,770 |
|
|
|
20,321 |
|
|
|
46,715 |
|
|
|
31,294 |
|
BARGAIN PURCHASE
GAIN |
|
1,110 |
|
|
|
- |
|
|
|
1,110 |
|
|
|
- |
|
OTHER INCOME, net |
|
77 |
|
|
|
240 |
|
|
|
224 |
|
|
|
766 |
|
INCOME BEFORE INCOME
TAXES |
|
23,957 |
|
|
|
20,561 |
|
|
|
48,049 |
|
|
|
32,060 |
|
PROVISION FOR INCOME
TAXES (1) |
|
(7,351 |
) |
|
|
(6,991 |
) |
|
|
(13,283 |
) |
|
|
(8,804 |
) |
NET INCOME (1) |
$ |
16,606 |
|
|
$ |
13,570 |
|
|
$ |
34,766 |
|
|
$ |
23,256 |
|
NET INCOME PER
SHARE |
|
|
|
|
|
|
|
Basic |
$ |
1.03 |
|
|
$ |
0.86 |
|
|
$ |
2.16 |
|
|
$ |
1.48 |
|
Diluted
(3) |
$ |
0.98 |
|
|
$ |
0.83 |
|
|
$ |
2.05 |
|
|
$ |
1.43 |
|
WEIGHTED AVERAGE NUMBER
OF SHARES |
|
|
|
|
|
|
|
Basic |
|
16,091 |
|
|
|
15,781 |
|
|
|
16,070 |
|
|
|
15,738 |
|
Diluted
(2) |
|
17,000 |
|
|
|
16,352 |
|
|
|
16,964 |
|
|
|
16,302 |
|
|
(1)
As a result of the adoption of ASU 2016-09, the Company recorded
$0.8 million and $3.1 million in excess tax benefits as a component
of income taxes for the three and six months ended June 30, 2016,
respectively. |
(2)
As a result of the adoption of ASU 2016-09, the Company recorded a
345,000 share and a 340,000 share adjustment to the weighted
average diluted shares outstanding for the three and six months
ended June 30, 2016, respectively. |
(3)
The net impact of adopting ASU 2016-09 on net income per share is
$0.03 and $0.14 for the three and six months ended June 30, 2016,
respectively. |
ICU MEDICAL, INC. AND
SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF
CASH FLOWS (Unaudited)(In thousands) |
|
|
Six months ended June 30, |
|
|
2016 |
|
|
|
2015 |
|
CASH FLOWS FROM
OPERATING ACTIVITIES: |
|
|
|
Net income |
$ |
34,766 |
|
|
$ |
23,256 |
|
Adjustments to
reconcile net income to net cash provided by operating
activities: |
|
|
|
Depreciation and amortization |
|
9,648 |
|
|
|
9,026 |
|
Provision
for doubtful accounts |
|
- |
|
|
|
53 |
|
Provision
for warranty and returns |
|
(125 |
) |
|
|
38 |
|
Stock
compensation |
|
7,674 |
|
|
|
5,947 |
|
Loss
(gain) on disposal of property and equipment |
|
31 |
|
|
|
(33 |
) |
Bargain
purchase gain |
|
(1,110 |
) |
|
|
- |
|
Bond
premium amortization |
|
121 |
|
|
|
1,223 |
|
Changes
in operating assets and liabilities: |
|
|
|
Accounts
receivable |
|
(2,527 |
) |
|
|
(5,529 |
) |
Inventories |
|
(5,479 |
) |
|
|
(2,267 |
) |
Prepaid
expenses and other assets |
|
(3,784 |
) |
|
|
(1,375 |
) |
Accounts
payable |
|
3,752 |
|
|
|
1,894 |
|
Accrued
liabilities |
|
(5,985 |
) |
|
|
(1,027 |
) |
Income
taxes, including excess tax benefits and deferred income taxes |
|
4,793 |
|
|
|
(2,031 |
) |
Net cash
provided by operating activities |
|
41,775 |
|
|
|
29,175 |
|
CASH
FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
Purchases
of property and equipment |
|
(9,112 |
) |
|
|
(5,005 |
) |
Proceeds
from sale of assets |
|
1 |
|
|
|
34 |
|
Business
acquisitions, net of acquired cash |
|
(2,606 |
) |
|
|
- |
|
Intangible asset additions |
|
(513 |
) |
|
|
(440 |
) |
Purchases
of investment securities |
|
(18,106 |
) |
|
|
(17,092 |
) |
Proceeds
from sale of investment securities |
|
31,765 |
|
|
|
49,555 |
|
Net cash
provided by investing activities |
|
1,429 |
|
|
|
27,052 |
|
CASH
FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
Proceeds
from exercise of stock options |
|
7,796 |
|
|
|
5,797 |
|
Proceeds
from employee stock purchase plan |
|
1,197 |
|
|
|
1,041 |
|
Purchase
of treasury stock |
|
(16,911 |
) |
|
|
(1,435 |
) |
Net cash
(used in) provided by financing activities |
|
(7,918 |
) |
|
|
5,403 |
|
Effect of
exchange rate changes on cash |
|
1,445 |
|
|
|
(6,350 |
) |
NET
INCREASE IN CASH AND CASH EQUIVALENTS |
|
36,731 |
|
|
|
55,280 |
|
CASH AND
CASH EQUIVALENTS, beginning of period |
|
336,164 |
|
|
|
275,812 |
|
CASH AND
CASH EQUIVALENTS, end of period |
$ |
372,895 |
|
|
$ |
331,092 |
|
|
|
|
|
|
|
|
|
Use of Non-GAAP Financial Information
This press release contains financial measures that are not
calculated in accordance with U.S. generally accepted accounting
principles ("GAAP"). The non-GAAP financial measures should
be considered supplemental to, and not as a substitute for, or
superior to, financial measures calculated in accordance with
GAAP. There are material limitations in using these non-GAAP
financial measures because they are not prepared in accordance with
GAAP and may not be comparable to similarly titled non-GAAP
financial measures used by other companies, including peer
companies. Our management believes that the non-GAAP data
provides useful supplemental information to management and
investors regarding our performance and facilitates a more
meaningful comparison of results of operations between current and
prior periods. We use non-GAAP financial measures in addition
to and in conjunction with GAAP financial measures to analyze and
assess the overall performance of our business, in making
financial, operating and planning decisions, and in determining
executive incentive compensation. The non-GAAP financial
measures included in this press release are adjusted EBITDA and
adjusted diluted earnings per share ("Adjusted Diluted
EPS").
Adjusted EBITDA excludes the following items:
Intangible asset amortization expense: We do not acquire
businesses or capitalize certain patent costs on a predictable
cycle. The amount of purchase price allocated to intangible
assets and the term of amortization can vary significantly and are
unique to each acquisition. Capitalized patent costs can vary
significantly based on our current level of development
activities. We believe that excluding amortization of
intangible assets provides the users of our financial statements
with a consistent basis for comparison across accounting
periods.
Depreciation expense: We exclude depreciation expense in
deriving adjusted EBITDA because companies utilize productive
assets of different ages and the depreciable lives can vary
significantly resulting in considerable variability in
depreciation expense among companies.
Stock compensation expense: Stock-based compensation is
generally fixed at the time the stock-based instrument is granted
and amortized over a period of several years. The value of
stock options is determined using a complex formula that
incorporates factors, such as market volatility, that are beyond
our control. The value of our restricted stock awards is
determined using the grant date stock price, which may not be
indicative of our operational performance over the expense
period. Additionally, in order to establish the fair value of
performance-based stock awards, which are currently an element of
our ongoing stock-based compensation, we are required to apply
judgment to estimate the probability of the extent to which
performance objectives will be achieved. Based on the above
factors, we believe it is useful to exclude stock-based
compensation in order to better understand our operating
performance.
Restructuring and strategic transaction: We incur
restructuring and strategic transaction charges that result from
events, which arise from unforeseen circumstances and/or often
occur outside of the ordinary course of our ongoing business.
Although these events are reflected in our GAAP financial
statements, these unique transactions may limit the comparability
of our ongoing operations with prior and future periods.
Legal settlement: We may incur charges or benefits as well
as legal costs related to litigation and other contingencies.
We exclude these charges or benefits, when significant as well as
the legal costs associated with significant legal matters, because
we do not believe they are an indication of our operating
performance.
Bargain purchase gain: We may incur a bargain purchase
gain on certain acquisitions if the fair market value of the
identifiable assets acquired and liabilities assumed, net of
deferred taxes exceeds the total consideration paid. We
exclude such gains as they are related to acquisitions and have no
direct correlation to the operation of our ongoing
business.
Adjusted Diluted EPS excludes, net of tax, intangible
asset amortization expense, stock compensation expense,
restructuring and strategic transaction, legal settlement and
bargain purchase gain, which was tax free. We apply our GAAP
consolidated effective tax rate to our non-GAAP financial measures,
other than when the underlying item has a materially different tax
treatment.
From time to time in the future, there may be other items that
we may exclude if we believe that doing so is consistent with the
goal of providing useful information to investors and
management.
The following tables reconcile our GAAP and non-GAAP financial
measures:
ICU MEDICAL, INC. AND
SUBSIDIARIESReconciliation of GAAP to Non-GAAP
Financial Measures (Unaudited)(In thousands, except per
share data) |
|
|
Adjusted EBITDA |
|
Three months ended June 30, |
|
Six months ended June 30, |
|
|
2016 |
|
|
|
2015 |
|
|
|
2016 |
|
|
|
2015 |
|
GAAP net income |
$ |
16,606 |
|
|
$ |
13,570 |
|
|
$ |
34,766 |
|
|
$ |
23,256 |
|
|
|
|
|
|
|
|
|
Non-GAAP
adjustments: |
|
|
|
|
|
|
|
Stock
compensation expense |
|
3,866 |
|
|
|
3,134 |
|
|
|
7,674 |
|
|
|
5,947 |
|
Depreciation and amortization expense |
|
4,847 |
|
|
|
4,397 |
|
|
|
9,648 |
|
|
|
9,026 |
|
Restructuring and strategic transaction |
|
1,533 |
|
|
|
- |
|
|
|
1,533 |
|
|
|
- |
|
Legal
settlement |
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
7,059 |
|
Bargain
purchase gain |
|
(1,110 |
) |
|
|
- |
|
|
|
(1,110 |
) |
|
|
- |
|
Provision
for income taxes |
|
7,351 |
|
|
|
6,991 |
|
|
|
13,283 |
|
|
|
8,804 |
|
Total
non-GAAP adjustments |
|
16,487 |
|
|
|
14,522 |
|
|
|
31,028 |
|
|
|
30,836 |
|
|
|
|
|
|
|
|
|
Adjusted EBITDA |
$ |
33,093 |
|
|
$ |
28,092 |
|
|
$ |
65,794 |
|
|
$ |
54,092 |
|
|
|
|
|
|
|
|
|
|
Adjusted diluted earnings per
share |
|
Three months ended June 30, |
|
Six months ended June 30, |
|
|
2016 |
|
|
|
2015 |
|
|
|
2016 |
|
|
|
2015 |
|
GAAP diluted earnings
per share |
$ |
0.98 |
|
|
$ |
0.83 |
|
|
$ |
2.05 |
|
|
$ |
1.43 |
|
|
|
|
|
|
|
|
|
Non-GAAP
adjustments: |
|
|
|
|
|
|
|
Stock
compensation expense |
$ |
0.23 |
|
|
$ |
0.19 |
|
|
$ |
0.45 |
|
|
$ |
0.36 |
|
Amortization expense |
$ |
0.04 |
|
|
$ |
0.03 |
|
|
$ |
0.08 |
|
|
$ |
0.07 |
|
Restructuring and strategic transaction |
$ |
0.09 |
|
|
$ |
- |
|
|
$ |
0.09 |
|
|
$ |
- |
|
Legal
settlement |
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
0.43 |
|
Bargain
purchase gain |
$ |
(0.07 |
) |
|
$ |
- |
|
|
$ |
(0.07 |
) |
|
$ |
- |
|
Estimated
income tax impact from adjustments |
$ |
(0.12 |
) |
|
$ |
(0.08 |
) |
|
$ |
(0.21 |
) |
|
$ |
(0.29 |
) |
Adjusted diluted
earnings per share |
$ |
1.15 |
|
|
$ |
0.97 |
|
|
$ |
2.39 |
|
|
$ |
2.00 |
|
ICU MEDICAL, INC. AND
SUBSIDIARIESReconciliation of GAAP to Non-GAAP
Financial Measures - Fiscal Year 2016 Outlook
(Unaudited)(In millions, except per share data) |
|
|
|
GAAP net income |
$ |
64 |
|
|
$ |
67 |
|
|
|
|
|
Non-GAAP
adjustments: |
|
|
|
Stock
compensation expense |
|
15 |
|
|
|
15 |
|
Depreciation and amortization expense |
|
19 |
|
|
|
19 |
|
Restructuring and strategic transaction |
|
2 |
|
|
|
2 |
|
Bargain
purchase gain |
|
(1 |
) |
|
|
(1 |
) |
Provision
for income taxes |
|
28 |
|
|
|
29 |
|
Total
non-GAAP adjustments |
|
63 |
|
|
|
64 |
|
|
|
|
|
Adjusted EBITDA |
$ |
127 |
|
|
$ |
131 |
|
|
|
|
|
|
|
|
|
GAAP diluted earnings
per share |
$ |
3.72 |
|
|
$ |
3.87 |
|
|
|
|
|
Non-GAAP
adjustments: |
|
|
|
Stock
compensation expense |
$ |
0.87 |
|
|
$ |
0.87 |
|
Amortization expense |
$ |
0.16 |
|
|
$ |
0.16 |
|
Restructuring and strategic transaction |
$ |
0.12 |
|
|
$ |
0.12 |
|
Bargain
purchase gain |
$ |
(0.06 |
) |
|
$ |
(0.06 |
) |
Estimated
income tax impact from adjustments |
$ |
(0.36 |
) |
|
$ |
(0.36 |
) |
Adjusted diluted
earnings per share |
$ |
4.45 |
|
|
$ |
4.60 |
|
|
|
|
|
CONTACT:
ICU Medical, Inc.
Scott Lamb, Chief Financial Officer
(949) 366-2183
ICR, Inc.
John Mills, Partner
(646) 277-1254
ICU Medical (NASDAQ:ICUI)
Historical Stock Chart
From Feb 2024 to Mar 2024
ICU Medical (NASDAQ:ICUI)
Historical Stock Chart
From Mar 2023 to Mar 2024