Cantel Medical (NYSE:CMD) beat the consensus forecast with its fiscal second-quarter results today, but received a tepid reaction on Wall Street.
Little Falls, N.J.-based Cantel posted profits of $32.5 million, or 78¢ per share, on sales of $213.0 million for the three months ended Jan. 31, for a bottom-line gain of 79.8% on sales growth of 15.3% compared with the same period in fiscal 2017.
Adjusted to exclude one-time items, earnings per share were 71¢, 14¢ ahead of the consensus on The Street, where analysts were looking for sales of $211.4 million.
“We are pleased to report record sales and earnings performance this quarter. Our 15.3% reported sales increase was driven by organic growth of 10.0%, the impact from acquisitions of 4.2%, and a favorable impact from foreign currency of 1.1%. We continue to outperform internationally where sales were up 43.0% overall, while our US business had a strong quarter with 7.9% growth,” president & CEO Jørgen Hansen said in prepared remarks.
CMD shares were up 0.6% to $119.66 apiece today in early-afternoon trading.
