ICU Medical Inc. which is a San Clemente Orange County-based medical device maker, reported a huge profit in the second quarter and met the expectations of Wall Street, despite of their revenues going flat. The company had a Q2 profit of $4.8 million which has almost doubled from the previous year. ICU, that manufactures connectors which are used in the intravenous delivery of drugs and other devices, recorded a huge amount of profit that met the highest projections of some well known analysts.

“The profit gain has helped by new products and lower costs at factories in Utah Orange County and Mexico Orange County,” Chief Executive George Lopez said. Sales was another issue, that was going dim for a year, earlier at $48.6 million. Revenue was dull as  the sales were falling heavily to big customer Hospira Inc. a  Lake Forest Orange County based company. The critical care products of ICU like patient monitors, connectors and those products which are used in internal X-rays of blood vessels and organs are sold by Hospira under its own brand name.

The company’ sales through Hospira fell by a huge margin in the first quarter. The air was full of speculations and advices that the company should sell off its business. The company now has about $360 million as its market value and the shares moved up by more than 6% at the closing session on Thursday. The company said it can visualize their profits of about $20 million, about what Wall Street had been expecting on average.

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