MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Cantel Medical’s Q1 sales rise, earnings soar

Cantel Medical’s Q1 sales rise, earnings soar

By

Cantel Medical Corp. (NYSE:CMN) posted first-quarter sales of $71 million for the three months ended Oct. 31, up 10.2 percent compared with $64.4 million during the same period last year. Net income rose 85 percent to $6.2 million, compared with $3.3 million during Q3 2008:

Press Release

Cantel Medical Reports 85% Increase in Net Income – EPS of $0.37 vs. $0.20 – for Quarter Ended October 31, 2009 on 10% Sales Increase

LITTLE FALLS, N.J., Dec. 9 /PRNewswire-FirstCall/ — CANTEL MEDICAL CORP. (NYSE: CMN) reported an 85% increase in net income to $6,168,000, or $0.37 per diluted share, on a 10% increase in sales to a record $70,995,000 for the first quarter ended October 31, 2009. This compares with net income of $3,333,000, or $0.20 per diluted share, on sales of $64,406,000 for the first quarter ended October 31, 2008.

According to Andrew Krakauer, Cantel’s President and CEO, “This record performance reflects our eighth sequential quarter of improved results. Cantel continued to benefit from the growth of higher margin consumables and service revenue, which now comprise 75% of our overall sales.”

Krakauer added, “All of Cantel’s businesses performed well during this quarter. Every operating segment reported higher gross margins and increased operating income, compared with the same quarter in the prior year. The strongest performance was in our Healthcare Disposables segment where operating profit more than doubled, driven by atypically high demand for our U.S.-manufactured, FDA-cleared face masks in response to the H1N1 flu outbreak. Our unusually high shipments of face masks are now returning to more normal levels. Additionally, in our Endoscope Reprocessing segment, proactive sales and marketing investments helped achieve strong revenue growth in both disinfectants and capital equipment.”

The Company also reported that its balance sheet at October 31, 2009 included current assets of $92,552,000, including cash of $23,105,000, a current ratio of 1.53:1, gross debt of $38,000,000 and stockholders’ equity of $193,332,000. Krakauer stated, “We continue to strengthen our balance sheet and generate substantial cash flow. Our cash provided by operating activities was $6,456,000 for the quarter, and our net debt position of $14,895,000 at the end of this first quarter was 25% lower than the previous quarter.”

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

The Company will hold a conference call to discuss the results for the first quarter ended October 31, 2009 on Wednesday, December 9, 2009 at 11:00 AM Eastern time. To participate in the conference call, dial 1-877-407-8035 approximately 5 to 10 minutes before the beginning of the call. If you are unable to participate, a digital replay of the call will be available from Wednesday, December 9, 2009 at 2:00 PM through midnight on December 16, 2009 by dialing 1-877-660-6853 and using passcode #286 and conference ID #338712.

The call will be simultaneously broadcast live over the Internet on vcall.com at http://www.investorcalendar.com/IC/CEPage.asp?ID=152915. A replay of the webcast will be available on Vcall for 30 days.

For further information, visit the Cantel website at www.cantelmedical.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties, including, without limitation, the risks detailed in Cantel’s filings and reports with the Securities and Exchange Commission. Such forward-looking statements are only predictions, and actual events or results may differ materially from those projected or anticipated.

SOURCE Cantel Medical Corp.

In case you missed it

RSS From Medical Design & Outsourcing

  • Forecasting the future of urology with Boston Scientific’s Meghan Scanlon
    Meghan Scanlon, Boston Scientific’s president of urology and pelvic health, discusses the field and the challenges and opportunities ahead. The urology specialty faces a critical moment, with 10 urologists ready to retire for every new urologist entering the field, said Meghan Scanlon, SVP and president of urology and pelvic health at Boston Scientific (NYSE:BSX) That… […]
  • Women researchers receive a fraction of funding from the world’s biggest medtech companies
    The gender divide in medtech extends beyond leadership and into funding for investigational studies by U.S. physicians. Only 6.7% of physicians who received research payments from the world’s largest medical device companies in 2020 were women, according to an analysis of Medical Design & Outsourcing’s Big 100 list of medtech companies and CMS Open Payments… […]
  • Pentax Medical expands Vizient contract to include pediatric endoscopes
    Pentax Medical today announced it has expanded its contract with Vizient to include pediatric endoscopes. The contract will give Pentax Medical the ability to offer endoscopes to Vizient member hospitals through the Vizient Pediatric Program. The agreement also includes other value-added offerings, education opportunities and best practices. Get the full story on our sister site,… […]
  • Hologic plans to buy Bolder Surgical for $160M
    Hologic Inc. (NSDQ:HOLX) has a $160 million deal to acquire Bolder Surgical, a developer and manufacturer of advanced energy vessel sealing surgical devices. It’s the latest deal by Hologic, which has been spending COVID-19 test revenue generated by its diagnostics business on acquisitions across the company’s business lines, as CFO Karleen Oberton and CEO Steve MacMillan… […]
  • Koya Medical reports positive early results in Dayspring lymphedema trial
    Koya Medical this week announced positive results from a small, ongoing trial comparing its Dayspring compression treatment for lymphedema to a traditional pneumatic compression pump. The Oakland, California-based company secured FDA 510(k) clearance for the device last month, saying it was the first such approval for an active compression treatment enabling movement and mobility with… […]
  • OneProjects raises $17M to advance 4D cardiac imaging
    Irish-German cardiac imaging startup OneProjects today announced $8 million in Series A2 funding and two grants totaling $9 million. The company will use the new funds to complete product development, conduct clinical trials, gain FDA clearance and prepare for U.S. commercialization of the first product developed from its proprietary 4D cardiac imaging platform, Verafeye. The… […]
  • Women in Medtech 2021: Lindsay Fleming, Avient Corp. Commercial Manager, Healthcare — Color & Additives
    Lindsay Fleming is the Healthcare Commercial Manager for the Color & Additives division at Avient Corporation, a premier provider of specialty polymer formulations, color and additive systems, packaging solutions, and polymer distribution. She has been with the company for over 7 years and oversees the commercial growth development of the healthcare segment. She focuses on… […]
  • Women in Medtech 2021: Sarah Ehrlich, Argon Medical Devices Sustaining Mechanical Engineer
    Sarah Ehrlich, sustaining mechanical engineer at Argon Medical Devices, holds a B.S in mechanical engineering from the University of Texas at Tyler. “My parents knew I would become an engineer before I did,” she said. “Growing up, I was the big sister who put back together whatever my younger siblings decided to tear apart. I… […]
  • Four questions with AdvaMed’s Jen Brearey
    Jen Brearey is AdvaMed’s chief financial officer and chief operating officer, as well as executive director for the association’s inclusion diversity programs, which includes the industry initiative AdvaMed Advance and AdvaMed’s Women’s Executive Network. Ahead of our annual Women in Medtech edition of Medical Design & Outsourcing, we asked Brearey to share her expertise on gender… […]
  • Life Spine wins FDA clearance for ProLift micro expandable spacer
    Life Spine announced that it received FDA clearance to market its ProLift micro expandable spacer system for supporting micro-invasive procedures. Huntley, Illinois-based Life Spine designed its ProLift micro to support procedures ranging from endoscopic TLIFs to MIS TLIFs/PLIFs. The platform includes an 8mm width, self-locking expansion at any height (between 8mm and 16mm) to suit… […]
  • Achieve More with Medical Device Training and Certifications
    Any medical professional that deals with complex devices on a regular basis can benefit greatly from a wide range of medical device courses offered by The Center for Professional Innovation and Education (CfPIE). Each course offered is designed to advance your career under the instruction of trained, experienced, and actively practicing professionals in the field.… […]

Leave a Reply