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ICU Medical beats 4Q profit forecasts

SAN CLEMENTE, Calif. (AP) _ ICU Medical Inc. (ICUI) on Wednesday reported fourth-quarter net income of $9.5 million.

The San Clemente, California-based company said it had profit of 54 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to $1.20 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.

The medical device maker posted revenue of $95.7 million in the period.

For the year, the company reported profit of $63.1 million, or $3.66 per share. Revenue was reported as $379.4 million.

ICU Medical expects full-year earnings in the range of $3.55 to $3.90 per share, with revenue in the range of $1.2 billion to $1.25 billion.

ICU Medical shares have increased slightly more than 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $152.30, a rise of 63 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ICUI at https://www.zacks.com/ap/ICUI

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Keywords: ICU Medical, Earnings Report