Cardiac Science posts a 41% jump in Q3 income

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Cardiac Science, a provider of cardiac diagnosis, resuscitation, rehabilitation and informatics products, announced revenue for the quarter ended Sept. 30, of $54 million, an increase of 20 percent over the $45.1 million in revenue in the prior year period.

The company posted net income gains of $2.48 million for the quarter, compared to $1.76 million in the third quarter of 2007—an increase of 41 percent.

Cardiac Science attributed its growth to an increase in defibrillation sales of 34 percent and service revenue increase of 16 percent, which were slightly offset by a 3 percent decrease in cardiac monitoring sales. The company also said that its total international product sales nearly doubled, increasing 96 percent over the prior year’s third quarter, “driven primarily by strong automated external defibrillator (AED) sales and continued expansion in the sales of hospital defibrillators.”

Despite the strong gains, the company said it “believes general economic concerns are continuing to influence buying activity in the cardiac monitoring portion of the business, particularly in U.S. hospitals.” Total cardiac monitoring sales declined 3 percent during the quarter, and, total year-to-date cardiac monitoring sales were relatively flat, with less than a 1 percent decline when compared with the same period last year.