Zoll books solid gains for Q4, FY10

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Zoll Medical, a manufacturer of resuscitation devices and related software technologies, has announced increased revenue gains and net income for the 2010 fiscal fourth quarter and the 2010 fiscal year.

Net income for the 2010 year was $18.9 million, compared with $9.6 million in the prior year, the company reported. Net income was $7.2 million for the 2010 fiscal fourth quarter, an increase of 112 percent compared with $3.4 million in the prior year.

The fiscal 2010 revenues were $444 million, compared with fiscal 2009 revenues of $385.2 million, an increase of 15 percent. The company reported that the revenue results reflected a positive foreign exchange impact of $5 million, approximately half of which related to the Canadian dollar, compared with fiscal 2009. The results include approximately $18.9 million of revenue derived from its new temperature management business, whose assets were acquired from Alsius in May 2009.

Annual 2010 sales to the North American market increased 14 percent to $328 million, compared with $287.6 million for the prior year, Zoll said. Sales to the North American hospital market increased 11 percent to $103.9 million, compared with $93.3 million last year. Excluding U.S. military sales, North American hospital sales increased 18 percent from $68.6 million to $81.1 million. Also, U.S. military sales dropped slightly, from $22.7 million to $24.7 million in the 2009 annual period. Sales to the North American pre-hospital market increased 16 percent to $199 million, compared with $171.2 million in the prior year. International revenues increased by 19 percent to $116 million, compared with $97.6 million last year. Specifically, total LifeVest revenues increased 61 percent to $70.7 million compared with $43.9 million last year. Total AutoPulse sales increased 5 percent to $17.5 million for the year, compared with $16.7 million in the prior year.

The Chelmsford, Mass.-based Zoll said that the 2010 fourth quarter revenues increased 12 percent to $120.4 million, compared with revenues in the fourth quarter of last year of $107.9 million.

The company said its fourth quarter sales to the North American market were $89.7 million, an increase of 13 percent compared to $79.1 million for the prior-year period. Sales to the North American hospital market increased 3 percent to $29.9 million, compared with $28.9 million in the fourth quarter of last year. Excluding the U.S. military, sales to the North American hospital market increased 5 percent to $21 million, compared with $20 million in the prior-year quarter. Sales to the U.S. military were $8.9 million, consistent with the fourth quarter in the prior year. Sales to the North American pre-hospital market increased 20 percent to $53.5 million compared with $44.5 million in the same period last year. International sales increased 7 percent to $30.7 million, compared with $28.8 million in the fourth quarter last year. Total LifeVest revenues increased 64 percent to $21.2 million. Total AutoPulse sales increased 28 percent to $5.3 million, compared with $4.1 million in the same period of last year.