Lifeline Scientific estimates lower 2012 profit
Feb 7 (Reuters) - Medical technology company Lifeline Scientific Inc said it expects to report a lower pretax profit for 2012, partly due to a decrease in gross margins and certain legal costs.
The lower margins resulted from changes in product mix, the company said in a statement.
However, it estimated full-year revenue to be higher.
The company reported a profit before income tax of $2.4 million and revenue of $25.4 million in 2011.
Lifeline Scientific said it had invested to complete the development phase of its LifePort Liver Transporter product line in 2012 and toward expansion in Europe, South America and China.
The company also said it incurred significant legal expenses related to a lawsuit brought in June 2011 against a competitor and a former vendor.
Shares in the company closed at 195 pence on Wednesday on the London Stock Exchange.
- White House reverses, says Obama met uncle and lived with him during law school
- Flights delayed as air pollution hits record in Shanghai
- South Africa mourns Mandela, will bury him on December 15 |
- Analysis: Boeing bidders dangle goodies to win 777X jetliner
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image