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Landauer, Inc. Reports Strong Fiscal 2008 First Quarter Results
Date:1/31/2008

ll economy, our major customer base is less exposed to the economic headwinds than many industries. As a result of our investments in an experienced management team, cutting edge technology, and a streamlined and efficient infrastructure, we believe Landauer is well positioned to capitalize on the growth opportunities offered by the continuing awareness of the risk of radiation exposure. As we move forward in fiscal 2008, we intend to build upon the momentum that we have generated while leveraging all of Landauer's capabilities."

Quarterly Earnings Rise on Higher International Sales and Continued Cost

Management

Revenues for the first three months of fiscal 2008 were $21.8 million, an 8 percent increase compared with the $20.2 million at this time last year. Domestic revenue rose nearly 4 percent or $573,000 for the quarter, attributable primarily to InLight equipment sales. International revenue was up 24 percent, or $1.1 million, led by growth in most regions, strong InLight service and equipment growth and the impact of favorable currency translation.

Cost of sales increased 2 percent from the same quarter last year while the gross margin expanded to 67 percent from 65 percent in the year ago period. Selling, general and administrative expenses for the first quarter grew 14 percent, or $831,000. Of the increase, $384,000 was driven by spending to reengineer business processes and to replace the company's IT systems that support customer relationship management and the order-to-cash cycle. Other factors contributing to the increase included international spending to support growth, the impact of foreign exchange, higher salary and benefits related to staff additions, and investments in sales and marketing resources.

Net income for the most recent quarter grew 9 percent to $5.3 million, compared with $4.9 million a year ago. Earnings per diluted share for the three months were $0.57 versus $0.53 in fiscal 2007.

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SOURCE Landauer, Inc.
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