Natus Medical Inc. (BABY), a provider of neurodiagnostic and newborn care products, Monday, reported an increase in net income for the first quarter, following good performance from both neurology and newborn care businesses. On an adjusted basis, earnings per share exceeded Street estimates. The company also reiterated second-quarter guidance and updated full-year outlook.
For the three-month period, the company reported net income of $3.4 million or $0.11 per share, compared with $0.28 million or $0.01 per share during the corresponding quarter last year. Excluding certain expenses, earnings for the quarter were $0.15 per share. On average, four analysts polled by Thomson Reuters expected earnings per share of $0.11 for the first quarter. Analysts' estimates typically exclude one-time items.
Revenues for the quarter were $85.8 million, an increase from last year's $59.4 million. Analysts expected the company to generate revenues of $84.47 million for the quarter.
Looking forward, the company confirmed its second quarter guidance and expects to report revenues of $86 million to $90 million and non-GAAP earnings per share of $0.17 to $0.20. The Street expects the group to report revenues of $89.53 million and earnings per share of $0.19 for the upcoming quarter. For the full year, the company updated its guidance to report revenue of $362 million to $367 million and non-GAAP earnings per share of $0.85 to $0.88. Analysts expect full year revenues of $364.28 million, and earnings per share of $0.84. The company most recently reported that it expected to report non-GAAP earnings per share of $0.84 to $0.87.
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