Zoll Medical's 3Q profit rises 33 percent

Zoll Medical Corp., which makes resuscitation devices, said Thursday its fiscal 2008 third-quarter profit rose 33 percent on boost in North American sales.

But the company gave a weaker-than-expected sales growth outlook for fiscal 2009, and its shares fell $4.30, or 12.7 percent, to close at $29.49. The stock has traded between $21.31 and $37.66 over the last 52 weeks.

For fiscal quarter ended June 29, the company earned $5.7 million, or 27 cents per share, compared with profit of $4.3 million, or 21 cents per share, during the same period a year prior. Revenue rose 27 percent to $100.2 million from $79.2 million.

Analysts polled by Thomson Financial expected profit of 26 cents per share on revenue of $93.3 million.

He said the results should allow the company to meet its previously stated fiscal 2008 profit goal, which was set at $1.10 per share in April. Analysts continue to expect full-year profit of $1.10 per share.

However, the company projected fiscal 2009 revenue growth of 10 percent. Analysts expect revenue growth of 12 percent.