Bear Stearns Ups Viasys Healthcare

Analyst Roberto Morales sees meaningful sales for the healthcare company because of a rejuvenated product platform and expanded salesforce

Bear Stearns ups Viasys Healthcare (VAS ) to peer perform from underperform.

Analyst Roberto Morales notes that 2004 was a year of transition and Viasys was entering 2005 ready to capitalize on a rejuvenated product platform, expanded salesforce, and more efficient cost structure. He believes it set the stage for meaningful sales and bottom line reacceleration.

He says fourth-quarter results are in line with consensus, but lower-than-expected gross margins drove earnings per share 2 cents below his estimate. He says 2005 guidance of $420 million to $430 million in revenues and 90 cents to 94 cents earnings per share are well above his $411 million revenue and 82 cents earnings per share estimates.

Morales now sees $420 million in 2004 revenue and 90 cents earnings per share.

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