April 21, 2009 / 11:47 AM / 10 years ago

UPDATE 1-Kinetic Concepts posts lower Q1 profit, cuts '09 rev

* Q1 adj EPS 83 cents

* Q1 revenue $470.1 mln vs est $484.9 mln

* Sees FY ‘09 adj EPS $3.95-$4.10

April 21 (Reuters) - Kinetic Concepts Inc KCI.N reported a drop in first-quarter profit on lower sales volumes due to capital constraints on acute care facilities and unfavorable foreign currency exchange rates.

The company also cut its revenue outlook for 2009 to $1.95 billion to $2.0 billion, from its previous view of $2.0 billion to $2.06 billion.

Net income for the first quarter was $39.7 million, or 57 cents a share, compared to $68.0 million, or 94 cents a share in the year-ago period.

Therapeutic support systems revenue fell 8 percent worldwide to $74.6 million, on a constant currency basis, due to the weak economy and capital constraints faced by hospitals.

Kinetic Concepts said foreign currency exchange movements hurt total revenue for the first quarter by 5 percent compared with the prior-year quarter.

Shares of the company closed at $22.63 Monday on the New York Stock Exchange.

For the alerts, please click [ID:nWNAB5376] (Reporting by Esha Dey in Bangalore; Editing by Anil D’Silva)

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