Chad Announces Third Quarter Results: For the third
quarter ended Dec. 31, 2002, Chatsworth, Calif.-based Chad
Therapeutics reported a net income of $228,000, or 2 cents per
diluted share, compared to a net income of $81,000, or 1 cent per
diluted share, for the same quarter the previous fiscal year.
Revenue for the quarter rose 6 percent, to $4.9 million, compared
to revenue of $4.7 million for the same quarter the previous fiscal
ResMed Releases Q2 Earnings: For the second quarter ended
Dec. 31, 2002, San Diego-based ResMed reported a net income of
$10.4 million, or 30 cents per diluted share, compared to a net
income of $8.8 million, or 26 cents per diluted share, for the same
quarter the previous fiscal year. Revenue for the quarter rose 25
percent, to $65.3 million, compared to revenue of $48.9 million for
the same quarter the previous fiscal year.
Viasys Reports Fourth Quarter, Annual Results: For the
fourth quarter ended Dec. 28, 2002, Viasys Healthcare of
Conshohocken, Pa. reported a net income of $977,000, or 4 cents per
diluted share, compared to a net income of $3.5 million, or 13
cents per diluted share, for the same quarter the previous fiscal
year. Sales for the quarter were $97.3 million, compared to sales
of $88.3 million for the fourth quarter of 2001.
Viasys' net income for fiscal year 2002 was $5.3 million, or 20
cents per diluted share, compared to a net income of $16.3 million,
or 62 cents per diluted share, for fiscal year 2001. Annual revenue
was $353.9 million for fiscal year 2002, compared to revenue of
$336.3 million in 2001.
Mergers & Acquisitions
Otto Bock Acquires TEC: Pursuing a strategy of
“aggressive growth” and investment in
“forward-looking technologies,” Minneapolis-based Otto
Bock has acquired St. Cloud, Minn.-based TEC Interface Systems,
according to Bert Harman, Otto Bock's president.
TEC develops and manufactures custom and prefabricated liners,
suspension sleeves and post-operative products for the prosthetic
industry. The companies did not disclose the terms of the deal.
Enteral Nutrition Investigation Will Not Hurt Bottom Line,
McKesson Says: San Francisco-based McKesson assured investors
Feb. 13 that an Illinois U.S. Attorney's investigation into the
marketing of enteral nutritional products — an investigation
of which McKesson's Medical-Surgical Solutions segment and two
McKesson employees are subjects — will not hurt the company's
“McKesson is cooperating with the investigation and
responding to a subpoena which has been issued,” the company
said, noting that the investigation is industry-wide and involves
Medicare's reimbursement of enteral nutritional products.
CareCentric Could Go Private: John Reed and his son,
Stewart Reed, who are majority stockholders in Atlanta-based
CareCentric, are leading an investor group that wants to take the
company private, CareCentric announced Feb. 4.
The group's proposal would create a new corporation, Borden
Associates, which would merge with CareCentric.
Smaller CareCentric stockholders would receive 55 cents per
share, and other CareCentric shares would remain outstanding. These
steps would reduce the number of stockholders from 5,500 to 200,
leaving CareCentric eligible to terminate its common-stock
CareCentric's board of directors has formed a special committee
to consider the proposal, the company said.
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