SurModics’ (SRDX) fourth-quarter earnings per share came in at 18 cents, below the Zacks Consensus Estimate of 20 cents. The company reported revenues of $19.2 million, down 17% compared to the year ago period. In addition to quarterly results, SurModics came out with fiscal year 2009 results. The company recorded revenues of $121.5 million in 2009, up 25%, compared to $97 million in the previous year and earnings per share of $1.07 for 2009.

On a business unit basis, apart from Diagnostic, revenues from the other three segments – Cardiovascular, Ophthalmology and Other Markets, recorded a decline in revenues for the fourth quarter. While Diagnostic revenues increased 2% year over year to $4.6 million, revenues for the other three segments declined 12% to $9.8 million, 29% to $1.9 million and 41% to $2.9 million, respectively.

Cardiovascular segment results were impacted by the continuing decline in Cypher sales. SurModics derives a substantial

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Highlights include SurModics (SRDX), Merck & Co., Inc. (MRK), Abbott Laboratories (ABT), Johnson & Johnson (JNJ), Boston Scientific Corp. (BSX) and Medtronic, Inc. (MDT).Lackluster financial performance for fiscal 2Q09, outlook not optimistic for rest of the yearSurModics reported fiscal 2Q09 financial results on April 29, 2009.Total revenue for the second quarter of fiscal 2009 was $20.9 million, down 19% compared with $25.7 million in the year earlier period. Operating income was $6.2 million, compared with $7.2 million in the prior-year period. Net income was $4.2 million, compared with $5.1 million in the same period last year. Diluted earnings per share were $0.24, compared with $0.28 in the second quarter of fiscal 2008.On a revenue component basis, royalty/license revenue declined by 27% to $10.1 million in 2Q09, compared to $13.8 million in 2Q08. The royalty was also ...