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The Clarence-based maker of implantabl medical devices said net incomewas $3 or 14 cents per share, a 61 percent declinse from the prior year's $7.8 million, or 36 centa per share. Sales reached $45.2 million during the thircd quarter, off 20 percent from a year ago. Greatbatch has been impacteed by a supply reduction fromGuidanrt Corp., though Edward chairman, president and CEO, said the company'se performance was ahead of expectations. "The expense controls that were put in placwe during the second quarter were effectivre in partially mitigating the impact of the lowetr demand and reflect our ability to quickly adjust spendintg to changes insales volume," he said.
Voborilk also said construction of a new advancexd battery manufacturing plant in Alden and an assemblyy plantin Tijuana, Mexico are expected to be completed in the first quarter of 2005. Greatbatc h is now forecasting lower salees in 2005of $200 million to $220 million, down from $207 millionb to $230 million.
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