Merit Medical Systems, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 04:05 pm EDT
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Merit Medical Systems, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 315.23 million compared to USD 287.18 million a year ago. Net income was USD 25.83 million compared to USD 15.27 million a year ago. Basic earnings per share from continuing operations was USD 0.45 compared to USD 0.27 a year ago. Diluted earnings per share from continuing operations was USD 0.44 compared to USD 0.27 a year ago.
For the nine months, sales was USD 932.85 million compared to USD 857.57 million a year ago. Net income was USD 66.78 million compared to USD 41.12 million a year ago. Basic earnings per share from continuing operations was USD 1.16 compared to USD 0.73 a year ago. Diluted earnings per share from continuing operations was USD 1.14 compared to USD 0.71 a year ago.
Merit Medical Systems, Inc. designs, develops, manufactures, markets and sells medical products for interventional and diagnostic procedures. The Company is engaged in the development, manufacture and distribution of proprietary disposable medical devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care and endoscopy. Its cardiovascular segment consists of four product categories: peripheral intervention, cardiac intervention, custom procedural solutions and original equipment manufacturer. Within these product categories, it sells a variety of products, including cardiology and radiology devices, as well as embolotherapeutic, cardiac rhythm management, electrophysiology, critical care and others. Its endoscopy segment consists of gastroenterology and pulmonology devices which assist in the palliative treatment of expanding esophageal, tracheobronchial and biliary strictures caused by malignant tumors.