Published on 30 Apr 2024 on GuruFocus.com via Yahoo Finance

Merit Medical Systems Inc. Surpasses Q1 Revenue Expectations and Boosts Profitability

Revenue: Reported $323.5 million, an increase of 8.7% year-over-year, surpassing estimates of $315.51 million.Net Income: GAAP net income was $28.2 million, up from $20.7 million in the prior year quarter, with non-GAAP net income at $44.8 million.Earnings Per Share (EPS): GAAP EPS at $0.48, compared to $0.36 year-over-year; non-GAAP EPS was $0.77, exceeding the estimated $0.71.Gross Margin: GAAP gross margin improved to 46.9% from 46.5% year-over-year; non-GAAP gross margin increased to 50.9% from 50.1%.Free Cash Flow: Generated approximately $25 million in the quarter, indicating strong profitability and cash generation.Financial Position: Ended the quarter with $581.9 million in cash and cash equivalents, with total debt obligations at $822.5 million.Fiscal Year 2024 Guidance: Reaffirmed revenue expectations between $1.312 billion and $1.325 billion and non-GAAP EPS between $3.28 and $3.35.

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