Merit Medical Systems, Inc. (MMSI - Free Report) reported second-quarter 2019 adjusted earnings per share (EPS) of 42 cents, lagging the Zacks Consensus Estimate of 50 cents by 16%. The bottom line also deteriorated 2.3% from the year-ago quarter.
This Utah-based provider of peripheral and cardiac intervention products reported worldwide revenues of $255.5 million, up 13.7% from the year-ago quarter. On a comparable constant-currency basis, the metric improved 9.6% year over year. However, the top line missed the Zacks Consensus Estimate of $258.9 million by 1.3%.
Segmental Analysis
Cardiovascular
The Cardiovascular unit reported second-quarter revenues of $246.7 million, up 14% year over year. The upside can be attributed to year-over-year increase of 11.9% in the segment’s Stand-alone devices to $103.5 million. Further, revenues from Catheters improved 15.2% to $45.3 million. The same for embolization devices rose 10.1% to $14 million.
Moreover, revenues at the CRM/EP unit increased 3% to $13.9 million. Further, revenues from Custom kits and procedure trays unit, under the Cardiovascular segment, rose 1% to $34.3 million. Inflation devices revenues remained flat on a year-over-year basis at $24.3 million.
Endoscopy Devices
Revenues from the Endoscopy devices totaled $8.9 million, up 5.3% year over year.
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Merit Medical Systems, Inc. (MMSI - Free Report) reported second-quarter 2019 adjusted earnings per share (EPS) of 42 cents, lagging the Zacks Consensus Estimate of 50 cents by 16%. The bottom line also deteriorated 2.3% from the year-ago quarter.
This Utah-based provider of peripheral and cardiac intervention products reported worldwide revenues of $255.5 million, up 13.7% from the year-ago quarter. On a comparable constant-currency basis, the metric improved 9.6% year over year. However, the top line missed the Zacks Consensus Estimate of $258.9 million by 1.3%.
Segmental Analysis
Cardiovascular
The Cardiovascular unit reported second-quarter revenues of $246.7 million, up 14% year over year. The upside can be attributed to year-over-year increase of 11.9% in the segment’s Stand-alone devices to $103.5 million. Further, revenues from Catheters improved 15.2% to $45.3 million. The same for embolization devices rose 10.1% to $14 million.
Moreover, revenues at the CRM/EP unit increased 3% to $13.9 million. Further, revenues from Custom kits and procedure trays unit, under the Cardiovascular segment, rose 1% to $34.3 million. Inflation devices revenues remained flat on a year-over-year basis at $24.3 million.
Endoscopy Devices
Revenues from the Endoscopy devices totaled $8.9 million, up 5.3% year over year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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