Fourth Quarter Revenue up 29% to $50.4 Million
Strong Revenue Growth in both Defibrillation and Cardiac Monitoring
Full Year Revenue Growth of 17% to $182 Million and EPS of $0.37
BOTHELL, Wash., Feb. 28 /PRNewswire-FirstCall/ -- Cardiac Science Corporation (Nasdaq: CSCX), a global leader in advanced cardiac diagnosis, resuscitation, rehabilitation, and informatics products, today announced record results for the fourth quarter and full year ended December 31, 2007.
Revenue for the quarter was $50.4 million, an increase of 29% over the prior year period. The growth reflected an increase in defibrillation and cardiac monitoring sales of 48% and 16%, respectively. Domestic automated external defibrillator (AED) sales grew 30% from the prior year's fourth quarter, while international AED sales rose 68% for the quarter, driven by strong growth throughout Europe and Asia. The Company reported net income of $2.4 million, or $0.10 per diluted share in the fourth quarter, compared to a small net loss of $35,000, or $0.00 per share in the fourth quarter of 2006.
For the full year 2007, revenue totaled $182.1 million, an increase of
17% compared to revenue of $155.4 million for 2006. The Company reported
net income of $8.5 million for the year, or $0.37 per diluted share. Net
income for the year included a non-cash benefit and related cash expenses
associated with litigation that was settled in 2007. Excluding these
litigation-related items, pro forma net income would have been $7.1
million, or $0.31 per diluted share.
|SOURCE Cardiac Science Corporation|
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