ICU Medical, Inc. (NasdaqGS:ICUI) is looking forward to fetch $1 billion from the sale of ICU Medical, people familiar with the matter said. ICU Medical is working with JPMorgan Chase & Co. on finding suitors, according to the people, who asked not to be named as the process is private. The discussions are in the early stages and the company is still gauging interest, people added.

ICU Medical, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company’s total revenue was $74,299,000 against $75,511,000 a year ago. Income from operations was $12,025,000 against $11,382,000 a year ago. Income before income tax was $12,193,000 against $11,517,000 a year ago. Net income was $8,685,000 against $7,601,000 a year ago. Diluted EPS was $0.58 against $0.53 a year ago. Net cash provided by operating activities was $10,764,000 against $18,336,000 a year ago. Purchases of property and equipment were $5,831,000 against $3,632,000 a year ago. Intangible asset additions were $355,000 against $287,000 a year ago. EBITDA totaled $16.9 million or 23% of revenue compared to $16.3 million or 21.6% of revenue for the first quarter a year ago. For the second quarter, the company expects revenues to be in the range of $82 million to $84.5 million. The company expects diluted earnings per share to be in the range of $0.62 to $0.67. Due to current business trends in certain market segments, the Company is lowering the upper end of its previously issued revenue guidance. For the full fiscal year of 2013, it expects to generate revenue in the range of $330 million to $337 million, compared to the previous guidance of $330 million to $340 million. The company is reiterating its previous guidance of diluted earnings in the range of $2.70 to $2.85 per share; guidance would have been in the range of $2.78 to $2.94 per share for fiscal 2013 and operating cash flow in the range of $45 million to $50 million. Tax rate is expected to be approximately 33% for the year. The company also expects 2013 capital expenditures will be $30 million to $35 million, which is primarily for manufacturing capacity expansion, tooling and equipment for new products and maintenance cost of approximately $14 million.

ICU Medical, Inc. announced that they will report Q1, 2013 results at 4:00 PM, Eastern Daylight on Apr 22, 2013