BSTE : Analyst Activity may have caused it.
Wachovia Cuts Biosite To Mkt Perform From Outperf
Ex. one time tax benefits ($0.09) and a jump in other income ($0.02), EPS were $0.57, the lower end of guidance. Revenue (up 44%) beat our target by $2mm on in-line BNP and strong Cardiac sales. GM was off 200 b.p sequentially and below our target due to high scap rates on Cardiac. BNP volume grew 36% yr/yr (Ex. a $2.3mm distributor inventory build), 5 points below our target and near 15 points less than the prior 2 quarters. A $17mm sequential rise in receivables (robust December and late distributor payments) contributed to a $12mm net cash outflow.
Suntrust Robinson Humphrey
BSTE Reit Reduce BSTE reported revenue of $66.8 million (+44%) and EPS of $0.68. Revenue was positively impacted by $2.5 million of inventory build at Fisher and a lower tax rate that added $0.09 to the bottom line.
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