Natus Announces Preliminary First Quarter Revenue

PLEASANTON, Calif., April 06, 2020 (GLOBE NEWSWIRE) -- Natus Medical Incorporated (NASDAQ:NTUS) (the “Company” or “Natus”), a leading provider of medical device solutions focused on the diagnosis and treatment of central nervous and sensory system disorders for patients of all ages, today announced its first quarter revenue estimate and withdrew its full year 2020 guidance.

For the first quarter 2020, the Company expects to report revenue between $109 million and $110 million compared to its previous guidance of $113 million and $117 million.  The Company will report its first quarter financial results after the close of the market on Thursday, April 30^th.

“As the first quarter ended, it became apparent that the effects of the COVID-19 virus were more global and wide spread than we expected in our February 6^th guidance,” said Jonathan Kennedy, President and Chief Executive Officer. “Our Asia-Pacific region had the most significant negative impact on revenue during the quarter, followed by weakness in our European and Latin American regions. Revenue in North America during the first quarter was in line with our expectations. However, we expect revenue from North America to be negatively impacted during the second quarter, and we are currently unable to predict the duration of the negative impact associated with COVID-19.”

“We believe we are well positioned to weather the course of this pandemic. Our restructuring efforts over the past year have streamlined our operations, increased our cash flow and strengthened our balance sheet. We provide critical devices, supplies and services to health care providers and patients around the world. Our dedicated team members are committed to continuing to manufacture and deliver our healthcare solutions even during times of crisis.  The health and well-being of every person who helps make our products and solutions possible is our highest priority, and we are working in close consultation with our suppliers and health-care providers to ensure that all patient needs are met,” Mr. Kennedy continued.

The Company announced that due to the uncertainty caused by the COVID-19 pandemic it was unable to provide guidance for the full year of 2020 and, therefore, has withdrawn its full year guidance previously issued on February 6, 2020.

About Natus Medical Incorporated

Natus is a leading provider of medical device solutions focused on the diagnosis and treatment of central nervous and sensory system disorders for patients of all ages.