MERIT MEDICAL PROVIDES HISTORICAL REVENUES IN REVISED PRESENTATION FORMAT

*Core revenue is a non-GAAP financial measure. A reconciliation of core revenue to GAAP revenue is included under the heading “Non-GAAP Financial Measures” below.

SOUTH JORDAN, Utah, April 03, 2020 (GLOBE NEWSWIRE) -- Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading manufacturer and marketer of proprietary disposable devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care and endoscopy, today provided a revised presentation of its annual revenues under new product categories for the years ended December 31, 2019, 2018, and 2017, as well as quarterly revenues for the quarterly periods from March 31, 2018 to December 31, 2019. As discussed in its quarterly financial conference call held on February 24, 2020, Merit has revised the format for presentation of its revenues in new product categories. During that call, Merit outlined the revised format and indicated that it would provide historical information consistent with the revised format. The revised presentation format is shown below. 

“The purpose of the revised presentation format is to provide users of our financial statements with revenue information in revised product categories that more closely reflect the focus of our business by call point and end market,” said Fred P. Lampropoulos, Merit’s Chairman and Chief Executive Officer. “We believe this new format will more clearly reflect how we sell our products to our customers in each of our focused end markets and more adequately reflect the underlying commercial momentum in the business.”

Merit conducts its business through two operating segments: Cardiovascular (which includes Cardiac Intervention, Peripheral Intervention, Custom Procedural Solutions, and OEM) and Endoscopy. The revised presentation format discussed in this release does not change or replace Merit’s historical operating segments but rather provides revenue reporting under new categories for products within each operating segment. The diagram below illustrates the transition of Merit’s product categories from its historical presentation to its revised presentation:

Merit’s revenue under the new product categories for the years ended December 31, 2019, 2018, and 2017, respectively, was as follows (unaudited, in thousands):

Merit’s core* revenue (a non-GAAP financial measure) by product category for the years ended December 31, 2019, 2018, and 2017, respectively, was as follows (unaudited, in thousands):

Merit’s revenue by product category for the three-month periods ended March 31, June 30, September 30, and December 31, 2019, compared to the corresponding periods of 2018, was as follows (unaudited, in thousands):

Merit’s core* revenue (a non-GAAP financial measure) by product category for the three-month periods ended March 31, June 30, September 30, and December 31, 2019, compared to the corresponding periods of 2018, was as follows (unaudited, in thousands):

		Three-Month Period Ended
2019		March 31			June 30			September 30			December 31
Cardiovascular
Peripheral Intervention		$	65,466		$	75,589		$	70,120		$	86,753
Cardiac Intervention			72,540			79,643			74,859			77,755
Custom Procedural Solutions			45,861			47,216			46,258			48,024
OEM			27,446			30,959			29,044			30,440
Total			211,313			233,407			220,281			242,972
Endoscopy
Endoscopy devices			7,234			8,408			8,623			8,511
Total		$	218,547		$	241,815		$	228,904		$	251,483
2018
Cardiovascular
Peripheral Intervention		$	52,839		$	56,603		$	57,519		$	58,606
Cardiac Intervention			65,419			72,749			68,681			71,647
Custom Procedural Solutions			38,479			42,883			42,206			45,559
OEM			24,719			29,437			29,531			30,778
Total			181,456			201,672			197,937			206,590
Endoscopy
Endoscopy devices			6,944			6,774			7,626			7,189
			By: GlobeNewswire - 03 Apr 2020 Back to overview Enhance your business development with Biotechgate Try for free »