Fisher & Paykel improves forecast

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Tuesday, August 27, 2013

IRVINE, Calif. – With new products boosting sales and widening margins, Fisher & Paykel Healthcare has raised its earnings, according to news reports. The company will likely have a profit of $90 million to $95 million for the year ending March 31. Earlier this year, it forecasted a profit of $85 million to $90 million. Fisher & Paykel reported a profit of $77.1 million for 2013. The company is also benefitting from lower costs from its plant in Mexico. “Our margins are increasing as a result of new products and applications driving a favorable product mix, and efficiencies through lean manufacturing, logistics and supply chain improvement,” stated Mike Daniell, chief executive. Fisher & Paykel expects operating revenue of $625 million to $645 million for the year ending March 31. Previously, the company forecasted $610 million to $630 million. It reported operating revenue of $556.3 million for 2013.