Lifeline Scientific estimates lower 2012 profit

Thu Feb 7, 2013 3:07am EST

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.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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