For the first quarter ended March 31, 2009, net sales in the US were $422.5 million and net sales outside the US were $173.9 million, an increase of 6% and a decrease of 6%, respectively, over the prior-year period. Excluding the impact of foreign exchange, first quarter 2009 net sales outside the US increased 7% over the prior-year period.
Timothy M. Ring, chairman and chief executive officer, commented, “Despite a challenging sales quarter, due primarily to currency headwinds and distributor inventory reductions, we delivered solid adjusted EPS growth. We accomplished this through gross margin expansion and diligent expense management without compromising our investment in R&D. Our business is healthy and growing, and we remain confident in our long-term strategy.”
