Log in to your IBTimes Account

close
ID
Password
  • Set your IBTimes.com Edition

American Medical Systems Plunges On Weaker Guidance



By Daniel Jacobs
11 April 2007 @ 02:59 pm ET

Shares of medical firm American Medical Systems Holdings, Inc. (NASDAQ: AMMD) plunged nearly 18 percent on Wednesday after the firm lowered its expectations for first quarter revenue.

Related Topic

Get stories by e-mail on this topic.

  • ammd guidance | RSS
E-mail:

Shares of the firm dropped $3.48, or 17.95 percent to $17.95 in afternoon trading on the Nasdaq Stock Market.

On Tuesday the Minnetonka, Minn.-based firm reported preliminary sales of $108.4 million and earnings of 5 cents to 7 cents for the first quarter of 2007, which ended March 31. The Company had previously provided revenue guidance for the quarter of $113 to $118 million.

Analysts polled by Thomson Financial had expected 14 cents earnings per share. The company had previously predicted earnings per share to be in the range of 13 cents to 15 cents.

"This quarter, vendor quality issues, combined with performance shortfalls in our internal manufacturing and demand planning efforts, resulted in an inability to consistently meet demand for several key product lines," said president and chief executive Martin Emerson in a statement.

The company said its men’s health business grew 5 percent for the quarter, excluding an item, but was hindered by product availability issues. Its women’s health business grew 20 percent although it did experience some vendor-related supply issues.

American Medical is a supplier of medical devices and procedures to cure erectile dysfunction, benign prostatic hyperplasia, incontinence, menorrhagia, prolapse and other pelvic disorders in men and women.

This article is copyrighted by International Business Times.

    Click!
  • Rate this article:

Comments

Post Your Comment

*Name


advertisement
More Global Markets
Next weeks G8 may shine the spotlight on the USD as the global standard
Oil dropped a dollar to below $66 a barrel on Friday after unemployment data hardened views economic weakness would sap energy demand and that last month...
Oil fell toward $66 a barrel on Friday, adding to a drop of nearly 4 percent the previous day, as unemployment data hardened views economic weakness woul...

Advertisement
Forex trading is too complicated?

Can predict currency pairs movements? Binary option trading is what you need. Click here.

70% Profit in Less Than an Hour

Take profit from the markets roller coaster. No downloads, no commissions, no spreads.

Option Trading Was Never So Easy

Come and experience the trading platform that everyone talks about. Simple, fast and exciting.

advertisement
 
IBTimes.com Web
Partners
International Business Times© 2009 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives