Thursday, Kensey Nash Corp. (KNSY) reported first-quarter net income of $4.9 million, down from net income of $5.2 million in the same quarter last year. On a per share basis, net income was $0.43, flat with the year ago quarter.
On average, six analysts polled by Thomson Reuters expected the company to earn $0.41 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter was $19.7 million, down 2% from $20.1 million in the comparable quarter last year. Analysts expected the company to report revenue of $20.44 million for the quarter.
Looking ahead to the second quarter, the company expects total revenues to be in the range of $19.3 million - $20.1 million and net sales in the range of $12.5 million - $13.0 million. The company expects earnings in the range of $0.37 - $0.40. Excluding items, earnings are expected to be in a range of $0.42 - $0.45 per share. Analysts currently anticipate the company to earn $0.43 per share on revenue of $21.56 million.
For the full year 2010, the company expects total revenues in the range of $82.5 million - $86 million and net sales in the range of $55.5 million - $57 million. Earnings is expected to be in the range of $1.76 - $1.80 per share, with adjusted earnings in the range of $1.81 - $1.85 per share. Analysts currently anticipate the company to earn $1.75 per share on revenue of $86.62 million.
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