Natus Medical (NSDQ:NTUS) shares took a hit today on second-quarter results that came up short of the consensus earnings forecast.
The Pleasanton, Calif.-based maker of monitoring and diagnostics for newborns posted losses of -$8.9 million, or -26¢ per share, on sales of $84.8 million for the three months ended June 30, 2020, for a bottom-line slide into the red on a sales decline of -32.5%.
Adjusted to exclude one-time items, earnings per share were -13¢, 18¢ behind Wall Street analysts’ projections.
Natus reported that its neuro end market took a hit because of the decline in spending at many hospitals during the COVID-19 pandemic, while hearing & balance revenue went down with reduced activity in audiologist offices and retail hearing centers.
However, the company did report a strong performance from its newborn care business, which saw revenues increase by 1% as births continued at normal rates and the company released its Nicview II…