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UPDATE 1-American Medical Q4 profit beats market estimates
February 17, 2009 / 10:03 PM / 9 years ago

UPDATE 1-American Medical Q4 profit beats market estimates

* Q4 profit beats estimates

* Sees Q1 adj EPS $0.15-$0.19, vs estimate of $0.15

* Sees Q1 revenue $117-$124 mln, vs estimate of $123.1 mln

* Sees FY 2009 profit above market estimates

* Shares up almost 12 pct

Feb 17 (Reuters) - American Medical Systems Holdings Inc AMMD.O, a supplier of urological medical devices, posted a better-than-expected quarterly profit, driven by growth in its men’s and women’s healthcare business.

Shares of the company rose almost 12 percent to $11.97 after the bell.

For the fourth-quarter, the company posted a net income of $14.6 million, or 20 cents a share, compared with a net loss of $5 million, or 7 cents a share, a year ago.

Excluding items, the company earned 26 cents per share. Analysts on average were expecting 23 cents a share, before items, according to Reuters Estimates

The company also confirmed revenue of $134 million for the quarter, up 3 percent from a year ago.

For 2009, the company expects adjusted earnings of 86 cents to 99 cents per share on revenue of $495 million to $515 million. Analysts on average were expecting a profit of 76 cents a share, excluding items, on revenue of $517.7 million.

In a separate statement, the company said its chief operating officer, Ross Longhini, resigned and that the post would not be filled going forward.

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Shares of the Minnetonka, Minnesota-based company closed at $10.72 Tuesday on Nasdaq. (Reporting by Vidya L Nathan in Bangalore; Editing by Himani Sarkar)

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