ZOLL Medical Shares Jumped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of medical device maker ZOLLMedical (NAS: ZOLL) have jumped by as much as 25% after the company reported fourth-quarter earnings last night.
So what: Fourth-quarter revenue for ZOLL added up to $151.9 million, a jump of 26%, and earnings per share increased by 58% to $0.52. Both figures were record breakers for the company, and its full-year revenue topped $520 million.
Now what: The results topped analysts' expectations of $143 million revenue and $0.49 earnings per share. Full-year earnings per share jumped 60% to $1.39, and gross margin rose from 54% last year to 57% this year. To follow up the strong results, the company's board also approved a $50 million stock repurchase plan.
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