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Cardiac Science slowdown

This article was originally published in The Gray Sheet

Executive Summary

Automated external defibrillator maker reports $36.1 million in revenue for the second quarter, down 30% from Q2 2008, in a pre-earnings announcement Aug. 3. Revenue is also down about $3 million from last quarter, when the company complained of a soft capital equipment market and changes in Japan's AED market. Cardiac Science said it has withheld shipments of about $3 million in AED products since late June in order to "evaluate the quality of certain components." The firm has not yet determined when shipping might resume, but will update investors during its Aug. 10 earnings call

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