Merit Medical Systems Inc. reported it achieved record revenue of $100.5 million for the quarter ended June 30, 2012, an increase of 10 percent over the revenue of $91.2 million generated in the same quarter a year earlier.
Revenue for the six-month period was a record $196.1 million, compared with $177.9 million for the corresponding period in 2011, also a gain of 10 percent.
"Our growth was driven by sales gains in all divisions," said Fred Lampropoulos, chairman and CEO, of the South Jordan-based company.
Net income for the second quarter was $6.1 million, or 14 cents per share, compared to $6.9 million, or 18 cents per share, for the same quarter in fiscal 2011.
Net income for the six-month period was $11.8 million, or 28 cents per share, compared to $13.5 million, or 37 cents per share, a year earlier.
During its recently completed second quarter, Merit spent nearly $1.3 million more on its research and development compared with the same quarter a year ago. For the first six months of 2012 it spent $13 million on research and development, or nearly $2.6 million more than it spent in the similar period in fiscal 2011.
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