ICU Medical Inc. (ICUI, Financial) filed Quarterly Report for the period ended 2012-06-30.
Icu Medical, Incorporated has a market cap of $742.1 million; its shares were traded at around $52.48 with a P/E ratio of 20.6 and P/S ratio of 2.5. Icu Medical, Incorporated had an annual average earning growth of 10.3% over the past 10 years. GuruFocus rated Icu Medical, Incorporated the business predictability rank of 2-star.
Net domestic sales to Hospira were $27.2 million in the second quarters of 2012 and 2011. Infusion therapy sales decreased $0.3 million in second quarter of 2012 from the second quarter of 2011. Oncology sales increased $0.2 million in the second quarter of 2012 from the second quarter of 2011. The decrease in infusion therapy was from $0.7 million in lower CLAVE product unit sales and $0.3 million in lower other infusion therapy unit sales, partially offset by $0.7 million in higher custom infusion set sales. The increase in oncology sales was from higher unit sales from increased market share through Hospira. We expect modest increases in U.S. sales to Hospira in 2012 compared to 2011, primarily from higher infusion therapy and oncology sales, although there is no assurance that these expectations will be realized.
Net other domestic sales (excluding Hospira) in the second quarter of 2012 were $29.2 million, an increase of $2.8 million, or 11%, from the second quarter of 2011. Infusion therapy sales increased $2.5 million, or 22%, from the second quarter of 2011, which was primarily from a $1.8 million increase in CLAVE product sales and a $0.5 million increase in custom infusion set sales. The increased CLAVE and custom infusion set sales were primarily due to increased unit sales. Oncology sales increased $0.5 million, or 51%, from the second quarter of 2011. The increased oncology sales were due to increased unit sales from increased market share and demographic growth. Critical care sales decreased $0.2 million, or 2%, from the second quarter of 2011. The critical care decrease was primarily from increased competition in this market that resulted in lower average sales prices on certain items. We expect modest increases in other domestic sales (excluding Hospira) in 2012 compared to 2011, primarily from higher infusion therapy and oncology sales, although there is no assurance that these
Domestic sales: Net domestic sales in the first half of 2012 were $112.2 million, compared to net domestic sales of $107.7 million in the first half of 2011, an increase of 4%. Net domestic sales to Hospira accounted for 50% and 51% of our domestic sales in the first halves of 2012 and 2011, respectively. Domestic sales to distributors, through direct sales, through other OEM and other revenue account for the balance of domestic sales, making up 50% and 49% in the first half of each of 2012 and 2011, respectively.
Research and development expenses (“R&D”) were $5.4 million, or 4% of revenue, in the first half of 2012 compared to $4.5 million, or 3% of revenue. in the first half of 2011. The increase in R&D expenses was primarily from $0.9 million of higher project related R&D expenses supporting all our infusion therapy, critical care and oncology market segments, partially offset by lower compensation expense. Our R&D projects focus on filling in product line gaps and product enhancements for our product line target markets and creating additional market opportunities. The 2011 compensation expense includes $0.3 million in one-time expense for the LTRP payout.
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Icu Medical, Incorporated has a market cap of $742.1 million; its shares were traded at around $52.48 with a P/E ratio of 20.6 and P/S ratio of 2.5. Icu Medical, Incorporated had an annual average earning growth of 10.3% over the past 10 years. GuruFocus rated Icu Medical, Incorporated the business predictability rank of 2-star.
Highlight of Business Operations:
Domestic sales: Net domestic sales in the second quarter of 2012 were $56.5 million, compared to net domestic sales of $53.7 million in second quarter of 2011, an increase of 5%. Net domestic sales to Hospira accounted for 48% and 51% of our domestic sales in the second quarters of 2012 and 2011, respectively. Domestic sales to distributors, through direct sales, through other OEM and other revenue account for the balance of domestic sales, making up 52% and 49% in the second quarters of 2012 and 2011, respectively.Net domestic sales to Hospira were $27.2 million in the second quarters of 2012 and 2011. Infusion therapy sales decreased $0.3 million in second quarter of 2012 from the second quarter of 2011. Oncology sales increased $0.2 million in the second quarter of 2012 from the second quarter of 2011. The decrease in infusion therapy was from $0.7 million in lower CLAVE product unit sales and $0.3 million in lower other infusion therapy unit sales, partially offset by $0.7 million in higher custom infusion set sales. The increase in oncology sales was from higher unit sales from increased market share through Hospira. We expect modest increases in U.S. sales to Hospira in 2012 compared to 2011, primarily from higher infusion therapy and oncology sales, although there is no assurance that these expectations will be realized.
Net other domestic sales (excluding Hospira) in the second quarter of 2012 were $29.2 million, an increase of $2.8 million, or 11%, from the second quarter of 2011. Infusion therapy sales increased $2.5 million, or 22%, from the second quarter of 2011, which was primarily from a $1.8 million increase in CLAVE product sales and a $0.5 million increase in custom infusion set sales. The increased CLAVE and custom infusion set sales were primarily due to increased unit sales. Oncology sales increased $0.5 million, or 51%, from the second quarter of 2011. The increased oncology sales were due to increased unit sales from increased market share and demographic growth. Critical care sales decreased $0.2 million, or 2%, from the second quarter of 2011. The critical care decrease was primarily from increased competition in this market that resulted in lower average sales prices on certain items. We expect modest increases in other domestic sales (excluding Hospira) in 2012 compared to 2011, primarily from higher infusion therapy and oncology sales, although there is no assurance that these
Domestic sales: Net domestic sales in the first half of 2012 were $112.2 million, compared to net domestic sales of $107.7 million in the first half of 2011, an increase of 4%. Net domestic sales to Hospira accounted for 50% and 51% of our domestic sales in the first halves of 2012 and 2011, respectively. Domestic sales to distributors, through direct sales, through other OEM and other revenue account for the balance of domestic sales, making up 50% and 49% in the first half of each of 2012 and 2011, respectively.
Research and development expenses (“R&D”) were $5.4 million, or 4% of revenue, in the first half of 2012 compared to $4.5 million, or 3% of revenue. in the first half of 2011. The increase in R&D expenses was primarily from $0.9 million of higher project related R&D expenses supporting all our infusion therapy, critical care and oncology market segments, partially offset by lower compensation expense. Our R&D projects focus on filling in product line gaps and product enhancements for our product line target markets and creating additional market opportunities. The 2011 compensation expense includes $0.3 million in one-time expense for the LTRP payout.
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