Medical gear maker Getinge's Q1 core profit beats expectations [Reuters]
GETINGE AB UNSP/ADR (GNGBY)
NASDAQ:AMEX Investor Relations:
getinge.com/int/about-us/investors
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Source: Reuters
, opens new tab reported a smaller-than-expected drop in first-quarter core profit on Monday, as new orders offset the costs of resolving prolonged problems with its product packaging and heart products. Shares in Getinge were up 6% in midday trading. Its earnings before interest, tax and amortisation (EBITA), adjusted for items affecting comparability, were 842 million Swedish crowns ($77 million), down 13.4% from 972 million a year earlier, but above a consensus of 770 million cited by J.P.Morgan. Getinge has been scrambling to resolve quality problems with sterile packaging of products for heart-lung support systems and with its heart pumps, hurting its margins since the second quarter last year. ($1 = 10.9025 Swedish crowns) Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here. Reporting by Greta Rosen Fondahn and Elsa Ohlen in Gdansk; Editing by Milla Nissi Our Standards: The Thomson Reuters Tru
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