Urohealth Again Delays Report

NEWPORT BEACH — Urohealth Systems Inc. shares fell nearly 10% as the company again delayed releasing earnings for its fiscal year and fourth quarter ended in March.

Shares in the medical equipment maker dropped 84 cents to $7.75 as at least 2.37 million shares changed hands, more than eight times the average daily volume of 290,000 shares.

“People hear [about the delay], and if they haven’t been following the progress of the company, they would interpret that as being a problem,” said Jeffrey Barnes, an analyst at Robertson Stephens & Co.

The company had planned to report its earnings Tuesday but delayed the release for the second time. “We have made several acquisitions this year and the audit was more time-consuming than we anticipated,” spokeswoman Laura Brown said.

The company, which expects to release results later this week, had postponed reporting results last week, Barnes said.

Newport Beach-based Urohealth has made a number of acquisitions and transactions.

In March, the company signed a five-year, $1-billion agreement to provide health system Premier Inc. with medical supplies. A few weeks later, Urohealth bought medical products maker Imagyn for about $71 million in stock.

In August, Urohealth bought closely held medical products company Richard-Allan Medical Industries Inc. for $55 million.