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Zoll targets cuts

This article was originally published in The Gray Sheet

Executive Summary

Chelmsford, Mass. firm's "disappointing" preliminary results for Q1 reflect difficulties from its October 2004 Revivant acquisition, CEO Richard Packer reports Jan. 3. Revivant's pipeline was not as "robust" as anticipated, Packer explained. The exec also said he overestimated Zoll's ability to seamlessly integrate Revivant's Autopulse automatic chest compression system into its sales program. Only 75 Autopulse units were sold for the quarter, instead of a projected 150, generating $1.5 mil. less than expected. Hospital sales were $3.5 mil. short of initial guidance. Zoll plans to implement a series of cost-saving measures to improve its bottom line over the next few quarters, according to Packer...

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