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Young Innovations, Inc. Announces Record EPS for the Year
Date:2/3/2010

ST. LOUIS, Feb. 3 /PRNewswire-FirstCall/ -- Young Innovations, Inc. (Nasdaq: YDNT) today announced record earnings per share for the year ended December 31, 2009.

Sales for the fourth quarter of 2009 were $24.5 million, an increase of $0.6 million, or 2.5%, from the $23.9 million reported in the fourth quarter of 2008.  Income from operations increased 13.9% from $4.8 million in the fourth quarter of 2008 to $5.5 million in the fourth quarter of 2009.  Net income increased 13.5% to $3.5 million, compared with $3.1 million in the fourth quarter of 2008.  Diluted earnings per share increased 10.0% in the fourth quarter of 2009 to $0.44 from $0.40 in the prior year quarter.  Diluted earnings per share were affected by equity compensation expense of $0.04 and $0.03 for the quarters ended December 31, 2009 and 2008, respectively.

Sales for the year ended December 31, 2009 were $97.7 million, down 1.4% from $99.1 million in the prior year.  Income from operations increased 9.0% from $19.8 million in 2008 to $21.5 million in 2009.  Net income for fiscal year 2009 was $13.5 million, up 10.7% from $12.2 million in the prior year.  Diluted earnings per share were $1.69 for the twelve months ended December 31, 2009, an increase of 11.9% from $1.51 in 2008.  Diluted earnings per share were affected by equity compensation expense of $0.14 and $0.11 for 2009 and 2008, respectively.

Healthy demand for our consumable products, which include preventive, infection control, endodontic, micro-applicator and home care product lines, helped increase sales in the fourth quarter of 2009. Sales of our diagnostic product line declined from the prior year quarter, though at a slower rate than the past few quarters. Gross and operating margins benefited in the fourth quarter from a combination of price increases, favorable product mix, and improved operating efficiencies. Sales for the quarter received a minimal foreign exchange benefit, while for the year, a stronger U.S. dollar negatively impacted sales by approximately $557,000.

During the fourth quarter, we added sales staff at a majority of our product lines in an effort to expand and enhance customer relationships. Work to increase operating efficiencies included improving manufacturing productivity, implementation of software enhancements and ongoing consolidation work. Continued focus on new product development led to additions to our preventive product line as well as additional infection control products to be launched in the first quarter of 2010.

Overall, we are pleased with our ability to achieve growth in earnings throughout the year. We believe our investments to strengthen the company over the last few years have us well-positioned to take advantage of future growth opportunities.

A conference call has been scheduled for Thursday, February 4, 2010 at 11:00 a.m. Central Time and can be accessed through InterCall at http://tinyurl.com/yi4q09 or on the Company's website, www.ydnt.com.

Young Innovations develops, manufactures and markets supplies and equipment used by dentists, dental hygienists, dental assistants and consumers. The Company's product offering includes disposable and metal prophy angles, prophy cups and brushes, dental micro-applicators, panoramic X-ray machines, moisture control products, infection control products, dental handpieces (drills) and related components, endodontic systems, orthodontic toothbrushes, flavored examination gloves, children's toothbrushes, and children's toothpastes. The Company believes it is a leading U.S. manufacturer or distributor of prophy angles and cups, liquid surface disinfectants, dental micro-applicators and obturation units designed for warm, vertical condensation.

Investors are cautioned that this press release as well as other reports and oral statements by Company officials may contain certain forward-looking statements as defined in the Private Securities Litigation and Reform Act of 1995.  Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions and which include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," or similar expressions.  These statements are not guaranties of future performance and the Company makes no commitment to update or disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that may bear upon forward-looking statements.  Because such statements involve risks and uncertainties, actual actions and strategies and the timing and expected results thereof may differ materially from those expressed or implied by such forward-looking statements.  These risks and uncertainties include, but are not limited to, those disclosed in the Company's Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.

    
    
                              Young Innovations, Inc.           
                        Consolidated Statements of Income          
                    (In Thousands, Except Earnings Per Share Data)   
                                    (Unaudited)
    
                        Three Months Ended       Twelve Months Ended 
                           December 31,              December 31,           
                          2009     2008    Change   2009     2008    Change 
                          ----     ----    ------   ----     ----    ------ 
                                                                             
    Net Sales           $24,531  $23,923     2.5% $97,737  $99,142    -1.4%
    Cost of Goods Sold  $10,903   11,519    -5.3% $43,166   46,847    -7.9%
                        -------   ------    ----  -------   ------    ---- 
    Gross Profit        $13,628  $12,404     9.9% $54,571  $52,295     4.4%
    % of Net Sales         55.6%    51.8%            55.8%    52.7%        
                                                                             
    Selling, General and
     Administrative
     Expense             $8,135    7,581     7.3% $33,033   32,544     1.5%
    % of Net Sales         33.2%    31.7%            33.8%    32.8%        
                                                                             
    Income from
     Operations           5,493    4,823    13.9%  21,538   19,751     9.0%
    % of Net Sales         22.4%    20.2%            22.0%    19.9%        
                                                                              
    Interest expense,
     net                    158      263              665    1,332         
    Other (income)
     expense, net            38      (82)             133     (466)        
                                                                              
    Income Before Taxes   5,297    4,642    14.1%  20,740   18,885     9.8%
                                                                              
    Provision for Income
     Taxes                1,777    1,541            7,259    6,704         
                                                                              
    Net Income           $3,520   $3,101    13.5% $13,481  $12,181    10.7%
    % of Net Sales         14.3%    13.0%            13.8%    12.3%        
                                                                              
    Basic Earnings
     Per Share            $0.44    $0.40   -10.0%   $1.71    $1.52    12.5%
                                                                              
    Basic Weighted
     Average Shares
     Outstanding          7,924    7,812            7,881    7,999         
                                                                              
    Earnings Per
     Share (Diluted)      $0.44    $0.40   -10.0%   $1.69    $1.51    11.9%
                                                                              
    Diluted Weighted
     Average Shares
     Outstanding          8,059    7,832            7,966    8,069         
    
    
    
                           Young Innovations, Inc.                    
                         Consolidated Balance Sheet                   
                   December 31, 2009 and December 31, 2008            
                               (In Thousands)                         
    
                                               (Unaudited)              
                                                December 31  December 31 
                      Assets                       2009         2008 
                                                   ----         ---- 
      Current assets                                                  
        Cash                                         $67         $667 
        Accounts receivable, net                  11,397       10,421 
        Inventories                               14,816       16,486 
        Other current assets                       4,849        4,759 
                                                   -----        ----- 
      Total current assets                        31,129       32,333 
                                                  ------       ------ 
                                                                      
      Property, plant and equipment, net          33,668       32,905 
      Goodwill                                    80,374       80,334 
      Other intangible assets                     12,097       10,602 
      Other assets                                 2,732        3,402 
                                                   -----        ----- 
                                                                      
      Total assets                              $160,000     $159,576 
                                                ========     ======== 
                                                                      
              Liabilities and Equity                                  
      Current liabilities                                             
        Accounts payable and accrued                                  
         liabilities                              $8,377       $8,839 
                                                  ------       ------ 
      Total current liabilities                    8,377        8,839 
                                                   -----        ----- 
                                                                      
      Long-term debt                              13,979       29,349 
      Long-term secured borrowing                    550        1,281 
      Deferred income taxes                       15,947       13,829 
      Other noncurrent liabilities                   282            - 
                                                     ---          --- 
      Total liabilities                           39,135       53,298 
                                                  ------       ------ 
                                                                      
      Stockholders' equity                                            
        Common stock                                 102          102 
        Additional paid-in capital                23,985       25,337 
        Retained earnings                        145,756      133,531 
        Common stock in treasury, at cost        (49,090)     (52,673)
        Accumulated other comprehensive                               
         income (loss)                               112          (19)
                                                     ---          --- 
      Total stockholders' equity                 120,865      106,278 
                                                                      
      Total liabilities and stockholders'                             
       equity                                   $160,000     $159,576 
                                                ========     ======== 
    
    
    

SOURCE Young Innovations, Inc.

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SOURCE Young Innovations, Inc.
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