Natus Medical (BABY) Lowers Q1 Sales, EPS Outlook
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Natus Medical Incorporated (Nasdaq: BABY) lowers its Q1 sales guidance from $37-$38 million to $32.5-$33.5 million, versus the consensus of $37.39 million. EPS for the quarter move from $0.06-$0.08 to $0.01-$0.02, versus the Street estimate of $0.08.
“The severe worldwide economic downturn that began last year impacted our results for the first quarter of 2009. In response to this economic downturn and a growing uncertainty in the healthcare industry, hospitals have delayed capital equipment spending,” said Jim Hawkins, President and CEO of the Company.
“We have been working on several large capital equipment orders that were expected to ship in the first quarter. While these orders were not placed, we believe that they have been pushed out to later in the year and not lost. The exact timing of these orders, however, remains uncertain,” said Hawkins.
“At the same time, I am happy to report that sales of our ALGO hearing screening products were up on a year over year basis. We believe our market leading position in newborn hearing screening remains strong, even in these difficult economic times,” added Hawkins.
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