ICU Medical Announces First Quarter 2018 Results

ICU Medical (Nasdaq:ICUI), a leader in the development, manufacture and sale of innovative medical devices used in infusion therapy and critical care applications, today announced financial results for the quarter ended March 31, 2018.

As quoted in the press release:

First quarter 2018 revenue was $372.0 million, compared to $247.7 million in the same period last year. GAAP gross profit for the first quarter of 2018 was $149.0 million, as compared to $88.9 million in the same period last year.  GAAP gross margin for the first quarter of 2018 was 40%, as compared to 36% in the same period last year.  GAAP net income for the first quarter of 2018 was $4.9 million, or $0.23 per diluted share, as compared to GAAP net income of $55.9 million, or $2.86 per diluted share, for the first quarter of 2017.  Adjusted diluted earnings per share for the first quarter of 2018 were $2.26 as compared to $1.68 for the first quarter of 2017.  Also, adjusted EBITDA was $73.4 million for the first quarter of 2018 as compared to $50.1 million for the first quarter of 2017.

Adjusted EBITDA and adjusted diluted earnings per share are measures calculated and presented on the basis of methodologies other than in accordance with GAAP. Please refer to the Use of Non-GAAP Financial Information following the financial statements herein for further discussion and reconciliations of these measures to GAAP measures.

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