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Cantel Medical – Delivered record sales and quarterly earnings in the second quarter – CMN

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Cantel Medical Corp. (NYSE: CMN) reported a 28% increase in net income to a record $7,294,000, or $0.27 per diluted share, on a 20% increase in sales to a record $97,297,000 for the second quarter ended January 31, 2012. This compares with net income of $5,720,000, or $0.22 per diluted share, on sales of $81,021,000 for the second quarter ended January 31, 2011. For the six months ended January 31, 2012, the Company reported net income of $13,514,000, or $0.50 per diluted share, on a 25% increase in sales to $190,559,000. This compares with net income of $10,695,000, or $0.42 per diluted share, on sales of $153,014,000 for the six months ended January 31, 2011. Results for the second quarter and first six months ended January 31, 2012 of CMN were inclusive of a $0.02 charge related to an impairment of an investment.

Andrew Krakauer, Cantel’s President and CEO, CMN , stated, “We are pleased to have delivered record sales and quarterly earnings in the second quarter. These positive results confirm the continued success of our three prong approach to growth which includes investing in new product development, sales and marketing programs and acquisitions. All of these strategies positively affected the results this quarter.”

Krakauer added, “As in the first quarter, our Endoscopy segment, led by our newly acquired Byrne Medical business, had excellent performance as sales increased by 49% and operating profit grew by 86%. Byrne products showed core growth of over 30%, and the acquisition was accretive to earnings. The Byrne business is being integrated with our legacy endoscope reprocessing business under the “Medivators” name to establish the infection control leader in the gastrointestinal (GI) endoscopy market. Integration is going well, and we are pleased that Don Byrne, the visionary founder of Byrne Medical, has become the President of our newly combined Medivators business.


CMN is a leading provider of infection prevention and control products in the healthcare market. Our products include water purification equipment, sterilants, disinfectants and cleaners, specialized medical device reprocessing systems for endoscopy and renal dialysis, disposable infection control products primarily for dental and GI endoscopy markets, dialysate concentrates and other dialysis supplies, hollow fiber membrane filtration and separation products for medical and non-medical applications, and specialty packaging for infectious and biological specimens. CMN also provide technical maintenance for our products and offer compliance training services for the transport of infectious and biological specimens.

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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