SpaceLabs Medical Reports Second Quarter Financial Results

Strategic Insights -

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