RPT-Getinge Q1 profit falls less than expected

Wed Apr 16, 2014 7:17am EDT

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STOCKHOLM, April 16 (Reuters) - Swedish medical technology firm Getinge posted a 15.4 percent fall in first-quarter core profit on Wednesday, better than analyst had forecast, and saw restructuring costs for the year swelling to 960 million crowns.

Earnings before interest, taxes, amortisation and restructuring costs fell to 670 million Swedish crowns ($102 million) from a year-earlier 792 million. The mean forecast in a Reuters poll of analysts was for 528 million.

The medical technology group issued its third profit warning in just over a year in March as it said it faced more than a year of heavy spending to boost its quality controls.

It said then that it expected consultants brought in to address the issues to cost about 125 million crowns per quarter for a period of six to seven quarters.

($1 = 6.5695 Swedish Crowns) (Reporting by Mia Shanley)

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