Natus Medical (NSDQ:NTUS) this week posted fourth-quarter results that beat the overall consensus on Wall Street.
The Pleasanton, California-based maker of monitoring and diagnostics for newborns reported profits of $1.7 million, or 5¢ per share, on sales of $128.7 million for the three months ended Dec. 31, 2021, for a bottom-line loss of 66.5% on sales growth of 8.37% compared with Q4 2020.
Adjusted to exclude one-time items, earnings per share were 47¢, 3¢ ahead of The Street, where analysts were looking for sales of $125.8 million.
“I would like to thank our Natus teammates for their efforts to deliver growth in both revenue and income in the fourth quarter despite challenges from both COVID and supply chain-related constraints,” president and CEO Thomas Sullivan said in a news release. “Throughout the year we focused on ensuring our products were available to clinicians and despite incurring over $1.7 million in higher costs in the fourth quarter alone, our non-GAAP earnings per share increased more than 200%.”
Natus Medical said it is realigning its commercial organization on the clinical focus areas of brain, neural pathways and with sensory nervous systems as part of its Q1 plans. It will transition to a matrix infrastructure of non-commercial resources to support innovation and growth for each clinical focus area. Because of this, Natus Medical is only providing annual guidance that excludes the impact of any acquisitions or divestitures.
The company expects full-year 2022 revenue to be in the range of $491 million and $499 million with non-GAAP earnings per share between $1.36 and $1.49.
Shares in NTUS were at a standstill before market trading.