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ZOLL Medical Corp. (ZOLL)

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We retain our Outperform recommendation on ZOLL Medical Corp. (ZOLL) following its forecast-topping first quarter results. Revenues and earnings for the quarter beat the Zacks Consensus Estimates, driven by strong sales from the company's LifeVest and temperature management businesses.

The company witnessed healthy sales across the North American hospital and pre-hospital markets. We are pleased with ZOLL's solid fundamentals and its broad product range. Moreover, its significant international presence should also drive growth.

The company has completed multiple acquisitions and is seeking more such lucrative transactions to aid growth. Management's outlook for fiscal 2012 is encouraging with sales are expected to grow at a healthy double-digit clip on the strength of the company's core defibrillator business.

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