Cardiac Science (CSCX) Misses Q1 EPS by 3c; Guides Below for Q2
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Cardiac Science (Nasdaq: CSCX) reports a Q1 loss of $0.02, 3 cents worse than the analyst estimate of $0.01. Revenue for the quarter was $39.7 million, versus the consensus of $38.98 million.
The Company expects revenue for the second quarter of 2009 to be in a range between $37 million and $39 million, reflecting continued softness in global cardiac monitoring sales and Japanese defibrillation sales, with more stability in North American and other international AED sales and service revenue. (Q2 revenue consensus is $40.36M)
The Company expects to report a small net loss again in the second quarter in a range between $0.03 and $0.05 per share. (Consensus is $0.02 profit)
"Despite near term revenue softness, we remain confident about our long term growth prospects," said Mike Matysik, chief financial officer. "We expect operating cash flow to be neutral to positive in the near term. We will continue to incur relatively small GAAP losses during this time, as we continue to invest in and build capabilities that we expect will result in longer term growth," he concluded.
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