ST. LOUIS, May 10, 2012 /PRNewswire/ -- Challenged by weak demand in its domestic markets, Allied Healthcare Products Inc. (NASDAQ: AHPI) reported a loss for the third quarter of fiscal year 2012 on a decline in sales.
Net income for the quarter ending March 31 was a negative $146,000, or negative 2 cents per basic and diluted share, versus net income of $60,000, or 1 cent per share, for the prior year. Sales for the quarter declined from about $11.3 million to $10.7 million, or about 5.3 percent, from the previous year.
For the first three quarters of the 2012 fiscal year, net income fell from almost $90,000, or 1 cent per basic and diluted share, to a negative $268,000, or a negative 3 cents per share. Sales for the first three quarters declined from about $34.7 million to $32.8 million, or about 5.5 percent, compared to the previous year.
The bright spot in the sales picture was international sales which increased about 12.9 percent over the previous year's quarter and by about 6.4 percent for the first three quarters.
Commodity prices increased about 12.4 percent over the previous year. However, cost reduction projects in manufacturing offset increased material costs.
Allied will introduce cartridges that will facilitate use of its CO2 absorbent Litholyme® product in the fourth quarter of 2012, said Earl Refsland, Allied Healthcare Products president and chief executive officer.
Allied Healthcare Products manufactures a variety of respiratory products used in the healthcare industry in a range of hospital and alternate care settings including sub-acute facilities, home healthcare and emergency medical care. Allied product lines include respiratory care products, medical gas equipment and emergency medical products. Allied products are marketed to hospitals, hospital equipment dealers, hospital construction contractors, home healthca
|SOURCE Allied Healthcare Products, Inc.|
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