Navigation Links
Cantel Medical Reports 85% Increase in Net Income - EPS of $0.37 vs. $0.20 - for Quarter Ended October 31, 2009 on 10% Sales Increase

LITTLE FALLS, N.J., Dec. 9 /PRNewswire-FirstCall/ -- CANTEL MEDICAL CORP. (NYSE: CMN) reported an 85% increase in net income to $6,168,000, or $0.37 per diluted share, on a 10% increase in sales to a record $70,995,000 for the first quarter ended October 31, 2009. This compares with net income of $3,333,000, or $0.20 per diluted share, on sales of $64,406,000 for the first quarter ended October 31, 2008.

According to Andrew Krakauer, Cantel's President and CEO, "This record performance reflects our eighth sequential quarter of improved results. Cantel continued to benefit from the growth of higher margin consumables and service revenue, which now comprise 75% of our overall sales."

Krakauer added, "All of Cantel's businesses performed well during this quarter. Every operating segment reported higher gross margins and increased operating income, compared with the same quarter in the prior year. The strongest performance was in our Healthcare Disposables segment where operating profit more than doubled, driven by atypically high demand for our U.S.-manufactured, FDA-cleared face masks in response to the H1N1 flu outbreak. Our unusually high shipments of face masks are now returning to more normal levels. Additionally, in our Endoscope Reprocessing segment, proactive sales and marketing investments helped achieve strong revenue growth in both disinfectants and capital equipment."

The Company also reported that its balance sheet at October 31, 2009 included current assets of $92,552,000, including cash of $23,105,000, a current ratio of 1.53:1, gross debt of $38,000,000 and stockholders' equity of $193,332,000. Krakauer stated, "We continue to strengthen our balance sheet and generate substantial cash flow. Our cash provided by operating activities was $6,456,000 for the quarter, and our net debt position of $14,895,000 at the end of this first quarter was 25% lower than the previous quarter."

Cantel Medical Corp. is a leading provider of infection prevention and control products in the healthcare market. Our products include specialized medical device reprocessing systems for renal dialysis and endoscopy, dialysate concentrates and other dialysis supplies, disposable infection control products primarily for the dental industry, water purification equipment, sterilants, disinfectants and cleaners, hollow fiber membrane filtration and separation products for medical and non-medical applications, and specialty packaging for infectious and biological specimens. We also provide technical maintenance for our products and offer compliance training services for the transport of infectious and biological specimens.

The Company will hold a conference call to discuss the results for the first quarter ended October 31, 2009 on Wednesday, December 9, 2009 at 11:00 AM Eastern time. To participate in the conference call, dial 1-877-407-8035 approximately 5 to 10 minutes before the beginning of the call. If you are unable to participate, a digital replay of the call will be available from Wednesday, December 9, 2009 at 2:00 PM through midnight on December 16, 2009 by dialing 1-877-660-6853 and using passcode #286 and conference ID #338712.

The call will be simultaneously broadcast live over the Internet on at A replay of the webcast will be available on Vcall for 30 days.

For further information, visit the Cantel website at

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties, including, without limitation, the risks detailed in Cantel's filings and reports with the Securities and Exchange Commission. Such forward-looking statements are only predictions, and actual events or results may differ materially from those projected or anticipated.

                              CANTEL MEDICAL CORP.
                     (In thousands, except per share data)

                                          Three Months Ended
                                             October 31,
                                           2009             2008
                                           ----             ----

Net sales                               $70,995          $64,406

Cost of sales                            41,537           40,783
                                         ------           ------

Gross profit                             29,458           23,623

  Selling                                 8,524            7,350
  General and administrative              9,305            9,024
  Research and development                1,265            1,065
                                          -----            -----
Total operating expenses                 19,094           17,439
                                         ------           ------

Income before interest and income taxes  10,364            6,184

Interest expense                            387              751
Interest income                              (8)             (70)
                                            ---              ---

Income before income taxes                9,985            5,503

Income taxes                              3,817            2,170
                                          -----            -----

Net income                               $6,168           $3,333
                                         ======           ======

Earnings per common share - diluted       $0.37            $0.20
                                          =====            =====

Weighted average shares - diluted        16,769           16,457

                       CANTEL MEDICAL CORP.
                          (In thousands)

                                              October 31,   July 31,
                                                    2009       2009
                                                    ----       ----
 Current assets                                  $92,552    $88,910
 Property and equipment, net                      35,780     35,968
 Intangible assets                                35,788     37,042
 Goodwill                                        114,921    114,995
 Other assets                                      1,091        956
                                                   -----        ---
                                                $280,132   $277,871
                                                ========   ========

        Liabilities and stockholders' equity
 Current portion of long-term debt               $30,500    $10,000
 Other current liabilities                        30,023     29,113
 Long-term debt                                    7,500     33,300
 Other long-term liabilities                      18,777     18,342
 Stockholders' equity                            193,332    187,116
                                                 -------    -------
                                                $280,132   $277,871
                                                ========   ========


Reconciliation of Earnings Before Interest, Taxes, Depreciation,
Amortization and Stock-Based Compensation Expense ("EBITDAS")

The reconciliation of EBITDAS with net income for the three months
ended October 31, 2009 and 2008, respectively, is as follows (in

                                  Three Months Ended
                                      October 31,
                                    2009             2008
                                    ----             ----

Net income                        $6,168           $3,333

Income taxes                       3,817            2,170
Interest expense                     387              751
Interest income                       (8)             (70)
Depreciation                       1,564            1,550
Amortization                       1,278            1,338
Loss on disposal of fixed assets       -               14
                                     ---              ---

EBITDA                            13,206            9,086

Stock-based compensation expense     789              520
                                     ---              ---

EBITDAS                          $13,995           $9,606
                                 =======           ======

EBITDAS is a measure of the Company's performance that is not
required by, or presented in accordance with, Generally Accepted
Accounting Principles ("GAAP"). EBITDAS is a non-GAAP financial
measure defined by the Company as income before interest, taxes,
depreciation, amortization and stock-based compensation expense.
The Company believes EBITDAS is an important valuation measurement
for management and investors given the increasing effect that non-
cash charges, such as stock-based compensation, amortization
related to acquisitions and depreciation of capital equipment, has
on the Company's net income. In particular, acquisitions have
historically resulted in significant increases in amortization of
intangible assets that reduced the Company's net income.
Additionally, the Company regards EBITDAS as a useful measure of
operating performance and cash flow before the effect of interest
expense and complements operating income, net income and other GAAP
financial performance measures. Generally, a non-GAAP financial
measure is a numerical measure of a Company's performance, financial
position or cash flow that either excludes or includes amounts that
are not normally excluded or included in the most directly
comparable measure calculated and presented in accordance with GAAP.
This measure, however, should be considered in addition to, and not
as a substitute or superior to, net income, cash flows, or other
measures of financial performance prepared in accordance with GAAP.

SOURCE Cantel Medical Corp.

SOURCE Cantel Medical Corp.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Cantel Medical Corp.s Crosstex Subsidiary Addresses School MRSA Concerns With SaniTyze(TM) Brand Hand Sanitizer and Sanitex(R) Surface Disinfecting Line of Products
2. Cantel Medical Corp. To Hold Conference Call To Discuss Fourth Quarter and Fiscal 2009 Results
3. Cantel Medicals Crosstex Subsidiary Launches New Specially Treated Face Mask Effective Against H1N1 Influenza
4. Cantel Medical Named to the Forbes 2009 List of the 200 Best Small Companies in America
5. Cantel Medical Corp. to Present at the Sidoti Emerging Growth Research Institutional Investor Forum
6. Cantel Medical Corp. to Hold Conference Call to Discuss Results for its First Quarter Ended October 31, 2009
7. Harvard Medical School-Partners HealthCare Center for Genetics and Genomics Successfully Completes Evaluation of AutoGenomics 2C9-VKORC1 Panel to Assess Warfarin Sensitivity
8. You May Have a Thyroid Problem and Not Know It - Particularly If Youre Over 60, Says a New Harvard Medical School Report
9. Harvard Medical School-Partners HealthCare Center for Genetics and Genomics Successfully Completes Evaluation of AutoGenomics 2C9-VKORC1 Panel to Assess Warfarin Sensitivity
10. Globus Medical Raises $110 Million in Series E Financing Round
11. Quark Pharmaceuticals Appoints New Chief Medical Officer
Post Your Comments:
(Date:8/14/2017)... and PETACH TIKVAH, Israel , Aug. ... a leading developer of adult stem cell technologies for ... ending June 30, 2017. ... for our pivotal Phase 3 trial to investigate NurOwn ... President and Chief Executive Officer of BrainStorm. "We have ...
(Date:8/8/2017)... 8, 2017  BioLineRx Ltd. (NASDAQ/TASE: BLRX), a clinical-stage ... its financial results for the second quarter ended June ... second quarter 2017 and to date: ... programs for the Company,s lead project, BL-8040: ... with BL-8040 as novel stem cell mobilization treatment for ...
(Date:8/7/2017)... 2017 Zimmer Biomet Holdings, Inc. (NYSE and SIX: ... its Board of Directors has approved the payment of a ... 2017. The cash dividend ... October 27, 2017 to stockholders of record as of the ... dividends are subject to approval of the Board of Directors ...
Breaking Medicine Technology:
(Date:8/23/2017)... ... 23, 2017 , ... Arizona Spine & Joint Hospital ... designation of High Performing Hospitals by U.S. News & World Report for knee replacement ... significantly better than the national average in a given procedure or condition.  , ...
(Date:8/23/2017)... ... August 23, 2017 , ... Virsys12, ... strategic growth plans, announcing the hiring of Kevin Keelan as a Senior Account ... seasoned sales manager, Keelan will be working with Virsys12 senior leadership to extend ...
(Date:8/22/2017)... ... August 22, 2017 , ... ... unique masks and serums that perfectly fuse the beauty of naturally derived ingredients ... 2017 Indie Beauty Expo on August 23rd & 24th in New York City. ...
(Date:8/22/2017)... ... August 22, 2017 , ... Pivot Point Consulting, ... Zack Tisch as the firm’s new Consulting Services Executive. Mr. Tisch will oversee ... accounts, from assisting clients with initial vendor selection and pre-implementation planning through go-live ...
(Date:8/22/2017)... ... ... is new to the Texas market, but is proudly managed by widely recognized All Star ... in Grand Prairie, TX, located in the center of the DFW Metroplex, the fourth largest ... the past 40 years with 32 convenient locations in Texas, Nevada and California resulting in ...
Breaking Medicine News(10 mins):