CSI (Cardiac Science Inc) sees "best ever" quarter 1, resolves Philips row
This article was originally published in Clinica
Executive Summary
Shares in Cardiac Science Inc (CSI), the Bothell, Washington-based heart diagnostic and therapeutic device developer, rallied to a 52-week high after the company reported a 43% growth in defibrillator sales during the first quarter of 2007. Said to be its "best ever performance yet", the results were boosted by significant increases in both domestic (+59%) and international (+29%) sales of its automated external defibrillator (AED). However, this was offset by a 16% decline in revenue from cardiac monitoring sales, which the company said has been flat for the last three quarters. Total revenue for the quarter was $41.7m, up 7% from the prior year.