Utah Medical Products (UTMD) Reports Q1 Earnings, Guides for FY-08
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Utah Medical Products, Inc. (Nasdaq: UTMD) reports Q1 EPS of $0.48 compared to $0.48 for the same period last year. Revenues were $6.9 million compared to $7.12 million for Q1 of 2007.
According to UTMD CEO Kevin Cornwell, "We are not happy with the results for 1Q 2008, although there were many reasons to be pleased with our ability to respond to a number of significant negative external factors affecting UTMD's business. We are just going to have to work harder to overcome, in particular, the restrictive practices of GPOs in the U.S. with devices that are highly differentiated in quality, safety and cost. We expect higher sales in 2Q 2008.''
Given the results of 1Q 2008, UTMD management now projects that EPS for 2008 as a whole will be in the range of $1.92 to $1.95. This compares to 2007 EPS of $1.98.
Utah Medical Products, Inc. (UTMD) manufactures medical devices that are mostly disposable and for hospital applications. [SM]
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