ICU Medical's first-quarter revenue up 18.5%

Sales Increased 18.5% to $64.4 Million

Operating Cash Flow Totaled $9.6 Million

Company Reaffirms Full-Year 2010 Revenue and EPS Guidance

ICU Medical, Inc., (Nasdaq:ICUI), a leading low cost manufacturer of safe medical connectors, custom medical products and critical care devices, announced results for the first quarter ended March 31, 2010.

First quarter of 2010 revenue increased 18.5% to $64.4 million, compared to $54.3 million in the same period last year. Net income for the first quarter of 2010 was $4.3 million, or $0.30 per diluted share, as compared to net income of $7.1 million, or $0.47 per diluted share, for the first quarter of 2009.

Scott Lamb, ICU Medical's Chief Financial Officer, said, "We are pleased with our top-line growth during the quarter, which was driven by strong performance of CLAVEs, Custom Sets and critical care. Domestic distributor and direct sales were up 184% and international sales increased 53% year over year."

"During the quarter, we made considerable progress with transitioning the critical care operations acquired from Hospira and constructing our new manufacturing plant in Slovakia. We look forward to launching our European production facility in the second half of the year to support strong global demand for our custom products. Additionally, we continued to capitalize on our distribution partnerships with GPO'S, such as Premier and MedAssets, to position our products for further success in both domestic and international markets.

"Looking forward, we are confident that our proven track record of innovation, operating efficiencies, product quality and customer satisfaction will enable us to meet our financial and operational goals for 2010 and beyond."

The Company ended the first quarter with a very healthy balance sheet. As of March 31, 2010, cash, cash equivalents and investment securities totaled $84.9 million and working capital was $150.8 million. Additionally, the Company generated strong operating cash flow of $9.6 million for the first quarter of 2010.

Fiscal Year 2010 Guidance

For the full fiscal year of 2010, management reaffirmed its previously announced revenue guidance in the range of $265 million to $275 million, diluted earnings in the range of $1.80 to $1.90 per share and operating cash flow in the range of $35 million to $40 million.