Medical technology company Getinge (OMX GETI B) decided to affirm 2012 earnings forecast due to deviations in Q1 numbers vs. analysts’ consensus estimates. The company said that profit before taxes for Q1 2012 will fall between 560 and 570 million SEK, which is on par with Q1 2011. The company is still guiding for” improved organic invoicing growth” and ”favourable profit growth”. in 2012.
Both investors and analysts’ had been expecting far stronger Q1 numbers, so despite Getinge stressing that there is always considerable variation from quarter to quarter and even somewhat desperate looking note that the company’s annual forecasts have traditionally demonstrated a very high precision, it is no wonder that the stock lost just over 5%, particularly as it has been trading at a premium to peer groups.
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