Business
Merit Medical Reports Results for Fourth Quarter and Year Ended December 31, 2021, Issues FY 2022 Guidance
Q4 2021 reported revenue of $278.5 million, up 7.9% on a reported basis and up 8.4% on a constant currency revenue, organic* basis, compared to Q4 2020Q4 2021
About this update from Merit Medical Systems, Inc.
[{"type":"text","content":"Q4 2021 reported revenue of $278.5 million, up 7.9% on a reported basis and up 8.4% on a constant currency revenue, organic* basis, compared to Q4 2020Q4 2021 GAAP EPS increased 32% year-over-year to $0.36, compared to $0.27 in Q4 2020Q4 2021 non-GAAP EPS* increased 31% year-over-year to $0.71, compared to $0.54 in Q4 2020FY21 reported revenue of $1.075 billion, up 11.5% on a reported basis and up 10.4% on a constant currency revenue, organic* basis, compared to FY20FY21 GAAP EPS was $0.84, compared to loss per share of ($0.18) in FY20FY21 non-GAAP EPS* increased 43% year-over-year to $2.37, compared to $1.65 in FY20 * Constant currency revenue; constant currency revenue, organic; core revenue; non-GAAP EPS; non-GAAP net income; non-GAAP operating income and margin; non-GAAP gross margin; and free cash flow are non-GAAP financial measures. A reconciliation of these financial measures to their most directly comparable GAAP financial measures is included under the heading “Non-GAAP Financial Measures” below. SOUTH JORDAN, Utah, Feb. 24, 2022 (GLOBE NEWSWIRE) -- Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading manufacturer and marketer of proprietary medical devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care and endoscopy, today announced revenue of $278.5 million for the quarter ended December 31, 2021, an increase of 7.9% compared to the quarter ended December 31, 2020. Constant currency revenue, organic for the fourth quarter of 2021 increased 8.4% compared to the prior year period. For the year ended December 31, 2021, Merit's revenue was $1.075 billion, up 11.5% compared to 2020. Constant currency revenue, organic for the year ended December 31, 2021 increased 10.4% when compared to 2020. Merit’s revenue by operating segment and product category for the three and twelve-month periods ended December 31, 2021 and 2020 was as follows (unaudited; in thousands, except for percentages): Three Months Ended Year Ended December 31, December 31, % Change 2021 2020 % Change 2021 2020Cardiovascular Peripheral Intervention11.0% $105,543 $95,080 18.6% $405,116 $341,568 Cardiac Intervention11.7% 80,438 71,986 14.6% 320,641 279,671 Custom Procedural Solutions(6.3)% 50,450 53,827 (4.6)% 193,942 203,196 OEM15.8% 33,794 29,175 12.5% 123,528 109,767 Total8.1% ...