STEWARTVILLE, Minn., April 30 /PRNewswire-FirstCall/ -- Rochester Medical Corporation (Nasdaq: ROCM) reported sales of $8,445,000 for its second quarter ended March 31, 2009 compared to $9,215,000 for the second quarter of last fiscal year. It also reported net income of $361,000 or $.03 per diluted share for the current quarter compared to net loss of ($167,000) or ($.01) per diluted share for the second quarter of last year.
The approximate 8% decrease in sales (1% increase on a constant currency basis) resulted from a 4% decrease in Rochester Medical Branded Sales (13% increase on a constant currency basis) and a 16% decrease in private Label Sales (16% decrease on a constant currency basis). Constant currency basis assumes current exchange rates for all periods in order to exclude the impact of foreign exchange variations. In the second quarter of 2009 the U.S. dollar was significantly stronger versus the pound sterling, thus negatively affecting Rochester Medical Branded Sales growth levels in actual U.S. dollars given the significant volume of our branded product sales in the United Kingdom.
Net income adjusted for certain non-recurring unusual items and certain recurring non-cash expenses, or "Non-GAAP Net Income" for the current quarter was $207,000 or $.02 per diluted share compared to Non-GAAP Net Income of $353,000 or $.03 per diluted share for the second quarter of last fiscal year. The decrease for the current quarter on a Non-GAAP basis is primarily attributable to the decrease in interest income due to significantly lower interest rates paid on the Company's cash and cash equivalents.
Commenting on the quarterly results and on other significant developments, Rochester Medical CEO and President Anthony J. Conway said, "Excluding exchange rate influences, sales of Rochester Medical Branded products
|SOURCE Rochester Medical Corporation|
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