Merit Medical shares fall on fourth-quarter profit miss

Merit Medical shares fall on fourth-quarter profit miss

Stock Market Predictions

(Global Markets) - Shares of Medical Systems Inc (MMSI.O) fell 14 percent to a year low on Friday, after the medical device maker posted a quarterly profit below analysts' expectation.

On Thursday, the company reported a fourth-quarter adjusted profit of 18 cents a share, a cent below consensus estimates of 19 cents a share, according to Thomson Global Markets I/B/E/S.

The company also forecast 2012 revenue between $392 million and $402 million.

Shares of the South Jordan, Utah-based company were trading down 8 percent at $12.25. They had touched a low of $11.51 earlier in the session. (Reporting by Vidya P L Nathan in Bangalore; Editing by Sriraj Kalluvila)