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ICU Medical, Inc. Announces Third Quarter 2019 Results

SAN CLEMENTE, Calif., Nov. 11, 2019 (GLOBE NEWSWIRE) -- ICU Medical, Inc. (Nasdaq:ICUI), a leader in the development, manufacture and sale of innovative medical products used in infusion therapy and critical care applications, today announced financial results for the quarter ended September 30, 2019.
Third Quarter 2019 ResultsThird quarter 2019 revenue was $307.5 million, compared to $327.2 million in the same period last year. GAAP gross profit for the third quarter of 2019 was $118.6 million, as compared to $134.6 million in the same period last year.A  GAAP gross margin for the third quarter of 2019 was 39%, as compared to 41% in the same period last year.A  GAAP net income for the third quarter of 2019 was $26.6 million, or $1.24 per diluted share, as compared to GAAP net income of $0.2 million, or $0.01 per diluted share, for the third quarter of 2018.A  Adjusted diluted earnings per share for the third quarter of 2019 were $1.65 as compared to $1.88 for the third quarter of 2018.A  Also, adjusted EBITDA was $62.6 million for the third quarter of 2019 as compared to $68.4 million for the third quarter of 2018.Adjusted EBITDA and adjusted diluted earnings per share are measures calculated and presented on the basis of methodologies other than in accordance with GAAP. Please refer to the Use of Non-GAAP Financial Information following the financial statements herein for further discussion and reconciliations of these measures to GAAP measures.Vivek Jain, ICU Medicala??s Chief Executive Officer, said, a??Third quarter revenue, adjusted EBITDA and adjusted diluted earnings per share were generally in line with our expectations.a??
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