Net income for the second fiscal quarter ended March 31, 2013 was $5.2 million, or $0.54 per diluted share, compared to net income of $7.1 million, or $0.75 per diluted share, in the same period last year. The decrease in net income was due to reduced sales of $2.0 million, increased IT platform enhancement related expenses of $1.9 million, decreased equity earnings of $0.5 million and additional international costs of $0.4 million. Additionally, this decrease was offset by an effective tax rate reduction of $1.5 million, and other decreased costs of $1.0 million. Excluding the costs associated with the acquisition, IT platform enhancement, and non-cash stock based compensation expenses, adjusted net income was $5.7 million, compared to adjusted net income of $8.0 million in the comparable prior year period. The resulting adjusted diluted earnings per share for the second fiscal quarter ended March 31, 2013 was $0.60 per share, compared to $0.85 in the same period last year.
Adjusted EBITDA for the fiscal second quarter 2013 was $12.0 million compared with $14.9 million for the second fiscal quarter of 2012. The decrease was due primarily to lower earnings. A reconciliation of net income to EBITDA and Adjusted EBITDA is included in the attached financial exhibits.
Radiation Measurement SegmentRadiation Measurement revenues for the second fiscal quarter of 2013 decreased 0.4 percent, or $0.1 million, from the second fiscal quarter of 2012 to $27.3 million. The decrease in the fiscal 2013 second quarter was primarily due to revenue decreases domestically over the prior year second fiscal quarter of $0.6 million, offset by international increases of $0.6 million less currency impacts of $0.1 million.
Radiation Measurement operating income for the second fiscal quarter of 2013 decreased to $6.1 million, or 23.8 percent, from $8.0 million in the comparable prior year period. The decrease in operating income was due t
|SOURCE Landauer, Inc.|
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