Navigation Links
Cantel Medical Reports EPS of $0.35 vs. $0.23 for First Quarter Ended October 31, 2012

LITTLE FALLS, N.J., Dec. 6, 2012 /PRNewswire/ -- CANTEL MEDICAL CORP. (NYSE: CMN) reported a 54% increase in net income to $9,576,000, or $0.35 per diluted share, on a 7% increase in sales to a record $99,681,000 for the first quarter ended October 31, 2012. This compares with net income of $6,220,000, or $0.23 per diluted share, on sales of $93,262,000 for the first quarter ended October 31, 2011.

Andrew Krakauer, Cantel's President and CEO stated, "We are pleased to have delivered another strong financial performance this quarter. All three major business segments contributed to the favorable results. As in the past four quarters, much of our success resulted from the continued expansion of our gross margins, which improved to 43.9%. This was three percentage points better than in the same quarter last year and was mostly driven by greater shipments of higher margin products."

Krakauer added, "Our Water Purification and Filtration segment had an especially strong performance this quarter with organic sales growth of 16%. Operating profits in the segment grew by 46% due to greater sales of advanced technology higher margin products and improved operating efficiencies driven by higher production volumes. We also saw substantial operating leverage in our Healthcare Disposables and Endoscopy businesses, primarily driven by the sales of higher margin products. Operating profit in these two segments grew by 37% and 33%, respectively.  Additionally, we also had some benefit from opportunistic sales in our Therapeutic Filtration business and stringent expense control across all units."

In November, we announced two important events which will greatly benefit Cantel in the future. First was the acquisition of SPS Medical Supply Corp., which now brings Cantel's sales in the growing sterilization assurance market to over $30 million. It also significantly expanded the presence of our Crosstex business into the hospital and alternative care markets. Second, we announced the appointment of Jorgen B. Hansen as Cantel's Executive Vice President and Chief Operating Officer. Jorgen brings a wealth of senior executive management experience in the medical device and healthcare industry to Cantel. He also has great knowledge of international markets. 

The Company also reported that its balance sheet at October 31, 2012 included current assets of $133,211,000, including cash of $27,866,000, a current ratio of 2.44:1, gross debt of $80,000,000 and stockholders' equity of $284,597,000. Krakauer stated, "We continue to maintain a strong balance sheet and generate substantial cash flow and EBITDAS. When compared with the same quarter last year, our EBITDAS grew by 34% to $20,998,000. We were able to reduce our net debt position by approximately $7.7 million to $52,134,000, during the quarter."

Cantel Medical Corp. (NYSE: CMN) is a leading provider of infection prevention and control products in the healthcare market. Our products include water purification equipment, sterilants, disinfectants and cleaners, specialized medical device reprocessing systems for endoscopy and renal dialysis, disposable infection control products primarily for dental and GI endoscopy markets, dialysate concentrates and other dialysis supplies, hollow fiber membrane filtration and separation products for medical and non-medical applications, and specialty packaging for the transport and temperature regulation of infectious and biological specimens.

The Company will hold a conference call to discuss the results for the first quarter ended October 31, 2012 on Thursday, December 6, 2012 at 11:00 AM Eastern time. To participate in the conference call, dial (877) 407-8033 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 Thursday, December 6, 2012 at 2:00 PM through midnight on February 6, 2013 by dialing (877) 660-6853 and using conference ID # 404890.

The call will be simultaneously broadcast live over the Internet on at  A replay of the webcast will be available on Vcall for 90 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. CONDENSED CONSOLIDATED STATEMENTS OF INCOME(In thousands, except per share data)(unaudited)Three Months EndedOctober 31,20122011Net sales$
93,262Cost of sales55,95455,312Gross profit43,72737,950Expenses:  Selling13,41312,923  General and administrative12,04812,102  Research and development2,2942,145Total operating expenses27,75527,170Income before interest and income taxes15,97210,780Interest expense6461,031Interest income(13)(30)Income before income taxes15,3399,779Income taxes5,7633,559Net income $
,220Earnings per common share - diluted$
.23Dividends per common share $
.05Weighted average shares - diluted 27,36126,899 CANTEL MEDICAL CORP.CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands)(unaudited)October 31,July 31,20122012AssetsCurrent assets$
33,892Property and equipment, net42,40343,022Intangible assets, net69,09671,311Goodwill183,703183,655Other assets3,0612,932$
434,812Liabilities and stockholders' equityCurrent portion of long-term debt$
,000Other current liabilities44,61545,141Long-term debt70,00080,000Other long-term liabilities 22,26223,735Stockholders' equity284,597275,936$
434,812 SUPPLEMENTARY INFORMATIONReconciliation of Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-BasedCompensation Expense ("EBITDAS")The reconciliation of EBITDAS with net income for the three months ended October 31, 2012 and 2011, respectively, is as follows (in thousands):Three Months EndedOctober 31,20122011Net income$
,220Income taxes5,7633,559Interest expense6461,031Interest income(13)(30)Depreciation1,7601,677Amortization2,2672,289Loss on disposal of fixed assets413EBITDA20,04014,749Stock-based compensation expense958931EBITDAS$
5,680EBITDAS 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 theCompany 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 giventhe increasing effect that non-cash charges, such as stock-based compensation, amortization related to acquisitionsand depreciation of capital equipment, has on the Company's net income. In particular, acquisitions have historicallyresulted 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 beforethe 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.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Cantel Medical Appoints Jorgen B. Hansen As Executive Vice President And Chief Operating Officer
2. Cantel Medical Corp. To Present At The CL King 10th Annual Best Ideas Conference
3. Cantel Medical Board Of Directors Authorizes Regular Semiannual Dividend
4. Nonin Medical, Inc. arbeitet bei Pulsoxymetrieangebot für 2net-Plattform für drahtlose Gesundheitslösungen mit Qualcomm Life zusammen
5. CIVCO Medical Solutions Appoints Senior Vice President and General Managers to Business Units
6. Nonin Medical, Inc. Collaborates with Qualcomm Life to Provide Pulse Oximetry for the 2net Platform for Wireless Health Solutions
7. Arizona Judge Rules That Arizona Medical Marijuana Law is Constitutional
8. Harrington Discovery Institute at University Hospitals Case Medical Center Announces Grant Funding to Physician-Scientists at Major Academic Medical Centers to Support New Drug Development
9. Der NeuViz 64 Multi-Slice-CT-Scanner von Neusoft Medical Systems erhält FDA-Genehmigung
10. UBM Canon Announces its New Medical Technology Seminar Series
11. OncoSec Medical to Present Data at DNA Vaccines 2012 Conference
Post Your Comments:
(Date:11/26/2015)... , 26 november 2015 ... kondigt de geplande investering aan van ten ... de laboratoria en het mondiale hoofdkantoor in ... uitbreiding zal resulteren in extra kantoorruimte en ... aan de groeiende behoeften van de farmaceutische ...
(Date:11/26/2015)... -- --> --> Juntendo ... optimal contrast weighting of MRI for patients with Multiple ... research agreement with SyntheticMR in order to use SyMRI in ... possible to generate multiple contrast images from a single scan ... thus making it possible to both fine tune images and ...
(Date:11/26/2015)... DUBLIN , Nov. 26, 2015 ... the addition of the "2016 Future Horizons ... Monitoring (TDM) Market: Supplier Shares, Country Segment Forecasts, ... offering. --> ... comprehensive analysis of the Japanese therapeutic drug monitoring ...
Breaking Medicine Technology:
(Date:11/25/2015)... ... November 25, 2015 , ... For the first time, Vitalalert ... Organizations, One Beat ” campaign. The partnership between the two groups began in 2014 ... MAP International’s cause. , MAP International was founded in 1954 and is an international ...
(Date:11/25/2015)... ... November 25, 2015 , ... On November 25, 2015, officials of ... Narconon network, announced the release of a new cutting edge recovery program that has ... been working with drug- and alcohol-addicted individuals with the purpose to free addicts from ...
(Date:11/25/2015)... ... , ... Smiles by Stevens is pleased to announce the addition ... many patients are aware of the benefits of Botox® in the treatment of moderate ... with discomfort, soreness, and pain as a result of Jaw Tension, TMJ (temporo-mandibular joint) ...
(Date:11/25/2015)... ... , ... In an ongoing Clinical Study conducted by an independent physician, Andrew ... is evaluating the efficacy of its product and its disinfection protocol. This study is ... May 2014 through October 2015 at a 360-bed, acute-care, academic medical center located in ...
(Date:11/25/2015)... Silver Spring, Md (PRWEB) , ... November 25, ... ... the Pulmonary Hypertension Association (PHA) announces the nation’s Periwinkle Pioneers, individuals and groups ... the history of this disease. The Periwinkle Pioneers, nominated by the public, will ...
Breaking Medicine News(10 mins):