April 23, 2020 / 8:09 PM / a month ago

BRIEF-Merit Medical Systems Reports Q1 Non-GAAP EPS Of $0.38

April 23 (Reuters) - Merit Medical Systems Inc:

* MERIT MEDICAL REPORTS EARNINGS FOR QUARTER ENDED MARCH 31, 2020, WITHDRAWS FY 2020 GUIDANCE

* Q1 NON-GAAP EARNINGS PER SHARE $0.38

* Q1 GAAP LOSS PER SHARE $0.06

* Q1 REVENUE $243.5 MILLION VERSUS REFINITIV IBES ESTIMATE OF $233.2 MILLION

* Q1 EARNINGS PER SHARE ESTIMATE $0.26 — REFINITIV IBES DATA

* CANNOT ISSUE FINANCIAL GUIDANCE FOR REMAINDER OF 2020

* MERIT’S PREVIOUSLY ISSUED 2020 GUIDANCE IS WITHDRAWN UNTIL FURTHER NOTICE

* HAS BEEN ACTIVELY SIZING BUSINESS BASED ON SCENARIOS OF RECOVERY TO MINIMIZE UNNECESSARY INVENTORY BUILDS

* MERIT MEDICAL SYSTEMS - HAS REDUCED EXECUTIVE MANAGEMENT & OTHER EMPLOYEE SALARIES, LIMITED DISCRETIONARY SPENDING & DELAYED CAPITAL SPENDING

* HAS SEEN INCREASED DEMAND FOR MANY OF ITS CRITICAL CARE PRODUCTS, AS WELL AS ITS INFECTION CONTROL PRODUCTS Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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