Increased sales of bedside monitors, including two new product introductions, powered Datascope Corp. to greater revenues in its second fiscal quarter, ending Dec. 31, 2003.
Sales increased 5 percent to $86.8 million, compared with $82.5 million in the second quarter of FY03. Favorable foreign exchange rates accounted for $2 million of that increase. Net earnings slipped to $5.6 million, compared with $7 million in the year-ago quarter. Earnings in the second quarter of FY04 benefited by an after-tax gain of $1.9 million from the settlement of patent litigation.
For the six-month period, revenues rose 6 percent to $163.9 million, compared with $154.5 million in the first half of FY03. The company noted that favorable foreign exchange rates contributed $3.2 million to that increase. Net earnings were $9.8 million, compared with $10.7 million in the year-ago period.
For the 12th straight quarter, sales of patient monitoring products exceeded sales of the prior year's quarter, rising 10 percent to a record $38.6 million. Increased sales of bedside monitors, including sales of the recently introduced Spectrum and Trio monitors, accounted for the growth.