Natus Medical Q1 Profit Increases; Lifts 2014 Adj. EPS View

(RTTNews) - Natus Medical Inc. (BABY) reported rise in first-quarter net income to $6.3 million, or $0.19 per share, from $3.4 million, or $0.11 per share, in the first quarter of 2013. Non-GAAP earnings per share were $0.26 per share, up 73% from $0.15 per share last year.

Quarterly revenue was $85.6 million, compared to $85.8 million in the first quarter of the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share and revenues of $84.70 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter of 2014, the company expects revenue of $83 million to $86 million and non-GAAP earnings per share of $0.24 to $0.27. Analysts expect the company to report earnings of $0.26 per share and revenues of $84.80 million for the second-quarter.

The company updated its non-GAAP earnings guidance for the full year 2014 and now expects to report non-GAAP earnings per share of $1.18 to $1.21, an increase from previous guidance of $1.14 to $1.18. Full year 2014 revenue guidance remained unchanged at $345 million to $350 million. Street currently is looking for fiscal year 2014 earnings of $1.19 per share on annual revenues of $348.77 million.