Wednesday, specimen processing diagnostics system maker Iris International, Inc. (IRIS), reported a rise in profit for the fourth quarter from the year ago quarter as revenues grew 22%. The company has also provided guidance for the first quarter and full fiscal 2009.
The Chatsworth, California-based company's net income for the fourth quarter was $3.4 million or $0.18 per share, up from $2.7 million or $0.14 per share in the same quarter last year.
On average, five analysts polled by Thomson Reuters expected the company to earn $0.14 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter increased 22% to $26.7 million from $21.9 million in comparable quarter last year. Analysts expected the company to report revenue of $25.06 million for the quarter.
For the full year, the company's net income was $9.0 million or $0.48 per share, up from $7.5 million or $0.40 per share in the year-ago period. 2007
Total revenue for the full year was of $95.5 million, a 13% increase over revenue of $84.3 million in the prior year. Of the reporting segments, the high margin consumable and service segment revenue showed the strongest improvement of 27% from last year, accounting for 49% of overall revenue for the year.
For the first quarter, the company anticipates revenue growth of at least $22 million and earnings of at least $0.08 per share. Analysts currently expect the company to earn $0.11 per share on revenue of $25.10 million for the quarter.
Looking ahead to the full year 2009, the company expects revenue growth of at least $102 million and earnings of at least $0.48 per share. Analysts currently expect the company to earn $0.51 per share on revenue of $106.60 million for the full year.
IRIS closed Wednesday's trading at $10.11, down $0.09 or 0.88% on the Nasdaq.
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