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Natus Medical Incorporated (NTUS) Reports Q2 Loss of $0.13, Revenues Miss

July 30, 2020 5:17 PM

Natus Medical Incorporated (NASDAQ: NTUS) reported Q2 EPS of ($0.13), versus $0.00 reported last year. Revenue for the quarter came in at $84.78 million versus the consensus estimate of $98.2 million.

“As expected, we saw significant impact from COVID-19 during the second quarter, with revenue declining 32.4% compared to the second quarter of 2019. Our Neuro end market was impacted by the decline in spending at many hospitals and Hearing & Balance revenue declined due to the reduced activity in audiologist's offices and retail hearing centers. Our Newborn Care business performed well during the quarter increasing 1% compared to the second quarter last year as births continued at normal rates and we benefited from the release of our NICVIEW II NICU video streaming product,” said Jonathan Kennedy, President and Chief Executive Officer of Natus.

“Looking ahead to the third quarter, we expect Neuro and Hearing & Balance revenues to remain below pre-pandemic levels, but to improve compared to the second quarter. We expect Newborn Care to remain closer to historical levels. We see our customers adapting to the COVID environment with elective procedures resuming, which we believe will result in increased capital spending, improving our business over the remainder of 2020,” Mr. Kennedy continued.

Financial Guidance

Although we see our revenues and margins improving compared to the second quarter for the remainder of 2020, a significant amount of uncertainty still exists as a result of the COVID-19 pandemic. With this in mind, the Company will not provide detailed guidance at this time.

For earnings history and earnings-related data on Natus Medical Incorporated (NTUS) click here.

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