By Campbell McIlroy
Friday 15th February 2002 |
Text too small? |
Shares in the company dropped as much as 16% in morning trading, bottoming out at $11.75 before recovering to about $12 at lunch time. Brokers said the markets had been punishing companies which failed to deliver to the level expected. "FHP did that today and was punished," one said.
Operating revenue for the three months ended December 31 was up a disappointing 1% to $55.8 million.
Analysts said increased demand in the company's core products had led to lower prices and started to squeeze the company's margins.
New products were also yet to bear fruit with some sectors already showing signs of increased competition. The company was also struck by bad luck with a mild northern winter resulting in a mild flu season and fewer humidifier sales.
One broker said it was surprising FHP hadn't given the market any indication of the sales levels it had been experiencing.
Across the three product groups FHP revealed operating revenues increased in the respiratory humidification group by 4% to $29 million, CPAP sleep apnea group was up 10% to $19.8 million and the patient warming and neonatal care group was up 9% to $3.6 million.
No comments yet
2025 Annual Shareholders' Meeting and Director Nominations
Meridian Energy monthly operating report for July 2025
August 15th Morning Report
VGL upgrades aspirations, accelerates to meet client demand
August 14th Morning Report
VHP - Focus on Fundamentals: Driving Operational Performance
August 13th Morning Report
Devon Funds Morning Note - 12 August 2025
Spark announces sale of 75% of data centre business
Blackpearl Announces $15M Capital Raise & Market Update