Medical Physics SegmentMedical Physics revenues for the first six months of fiscal 2011 increased 67 percent, or $3.8 million, to $9.3 million on $1.4 million of organic growth and $2.4 million due primarily to the annualized impact of acquired companies. The gross margin was 23 percent each for the first six months of fiscal 2011 and in the year ago period. Selling, general and administrative costs for the first six months of fiscal 2011 increased 46 percent, or $0.9 million, to $2.8 million. The increase is due to the impact of acquired companies. Operating loss for the six months ended March 31, 2011 was $0.7 million, compared with an operating loss of $0.6 million for the same period in fiscal 2010.
Solid Financial PositionLandauer ended the second fiscal quarter of 2011 with total assets of $157.1 million. Due to the current liability classification of $18.3 million in outstanding borrowings incurred to support the acquisitions completed during the first fiscal quarter of 2010, the Company had negative working capital of $5.0 million. The Company believes projected operating cash flow and available borrowing under its current credit arrangements provide adequate liquidity to meet its current and anticipated obligations. Cash provided by operating activities for the six months ended March 31, 2011 was $16.9 million, an increase of $7.1 million from the first half of fiscal 2010 due primarily to the changes in the components of working capital.
Fiscal 2011 OutlookLandauer's current business plan for fiscal 2011 anticipates consolidated revenue for the year to be in the range of $120 to $126 million, including $4 to $8 million in sales to the U.S. military and first responder markets. Military and first responder market sales are depende
|SOURCE Landauer, Inc.|
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