ICU Medical, Inc. announced consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported that its diabetes infusion set business also known as its Orbit product line bringing net operating gain of $12.6 million. Total revenue increased to $76.5 million compared to $75.6 million in the same period last year. Net income was $17.8 million or $1.26 per diluted share as compared to net income of $10.0 million or $0.72 per diluted share for the fourth quarter of 2010. Excluding gain and the related income tax expense, net income was $9.8 million or $0.70 per diluted share. EBITDA totaled $30.6 million compared to $21.1 million for the fourth quarter a year ago. Net sales were $76.33 million compared to $75.47 million last year. Income from operations was $25.74 million or $1.26 per diluted share compared to $16.50 million or $3.15 per diluted share last year. Non-GAAP income from operations was $13.1 million or $0.70 per diluted share compared to $52.6 million or $2.59 per diluted share last year. Non-GAAP net income was $9.8 million compared to $36.7 million last year. For the full year, the company reported that total revenue increased 6.2% to $302.2 million compared to $284.6 million in the same period last year. Net income was $44.7 million or $3.15 per diluted share compared to net income of $30.9 million or $2.23 per diluted share for the same period last year. Excluding the gain on sale of Orbit, the $1.6 million of SG&A expenses and the related income tax expense, its net income was $36.7 million or $2.59 per diluted share. This growth in revenue was driven by double-digit improvements in CLAVE as well as oncology and TEGO products. It's worth noting that its oncology sales grew 33% to $24 million, validating strong demand for these revolutionary products worldwide. The international sales increased 14% while domestic sales were up 4% year-over-year. Its net income was a record $36.7 million or $2.59 per diluted share. Additionally, it generated record cash flow from operating activities of $64.5 million. Capital expenditures totaled $15.8 million and primarily included machinery, equipment and molds for its plants in the U.S. and Slovakia and investments in IT. Net sales were $301.64 million compared to $283.98 million last year. Income from operations was $65.22 million compared to $49.28 million last year. Income before income taxes was $66.42 million compared to $49.41 million last year. The company provided earnings guidance for the fiscal 2012 and first quarter of fiscal 2012. For the year, the company expects to generate revenue in the range of $318 million to $330 million and diluted earnings to be in the range of $2.45 to $2.70 per share. For modeling purposes, its tax rate is expected to be 35% for 2012. Operating cash flow is expected to be approximately $40 million to $50 million. Capital expenditures will be in the range of $13 million to $18 million. The plant is operating at 35% in its capacity and it expects to improve this capacity utilization through 2012. For the first quarter of 2012, the company expects its revenue to be in the range of $73 million to $76 million and expects a steady sequential progression of revenue growth during the second, third and fourth quarters. Gross margin will be approximately 47% during it expects its gross margin to increase to approximately 48% some time in the second half of 2012. The company expects its earnings per share to be in the range of $0.42 to $0.52, which includes a tax rate of 35% and expect the earnings per share to increase throughout the year.