SpaceLabs Medical Reports Second Quarter Financial Results

Strategic Insights

Jul 17, 1995 — 1 min read

SpaceLabs Medical, Inc., a leading developer of patient monitoring products and clinical information systems, reported financial results for the second quarter ended July 1, 1995. The company's net income for the quarter was $4.6 million, including restructuring and reorganization charges of $337,000. Excluding these costs, earnings per share were $0.45 compared to $0.43 for the same period last year. The company's revenue for the quarter was $64.0 million, up from $63.3 million in the same period last year.

Key Takeaways:

Net income for the second quarter was $4.6 million, with earnings per share of $0.45, compared to $0.43 for the same period last year.
Revenue for the quarter was $64.0 million, a 1.1% increase from $63.3 million last year.
Gross margin was 51.5% of revenue, compared to 51.7% last year, due to continued pricing pressures in the highly competitive marketplace.
Restructuring and reorganization expenses for the quarter were $337,000, including $725,000 of costs for 1995.
The company introduced two new products: PC Ranger, a wireless portable monitor, and a 12-lead ECG and ST segment monitoring capability for its Patient Care Information System.
SpaceLabs Medical also announced the consolidation of its clinical information system products under the name Intesys, which will include products such as Chartmaster and QuIC.

Statistics:

Net income for the second quarter: $4.6 million
Earnings per share for the second quarter: $0.45
Revenue for the second quarter: $64.0 million
Revenue for the second quarter compared to the same period last year: Up 1.1%
Gross margin for the second quarter: 51.5%
Restructuring and reorganization expenses for the quarter: $337,000
Total restructuring and reorganization charges for 1995: $725,000
Number of employees: Not mentioned
Revenue for 1995: $127.2 million
Revenue for 1994: $124.5 million

Sources:

Business Wire - July 18, 1995
NASDAQ: SLMD - July 1995
SpaceLabs Medical press release - July 18, 1995
Bruce Kleaveland, SpaceLabs Medical, Inc. - July 18, 1995

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