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Landauer, Inc. Reports Fiscal 2013 Third Quarter Results
Date:8/5/2013

re growth opportunities and maintaining robust dividend distributions to our shareholders," added Saxelby. 

Third Fiscal Quarter Financial Overview and Business Segment ResultsRevenues for the third fiscal quarter of 2013 and for the third fiscal quarter of 2012 were $36.6 million and $39.2 million, respectively. The Medical Products segment revenue decreased $1.9 million and revenues in the Radiation Measurement and Medical Physics segments decreased by $0.5 million and $0.2 million, respectively, over the prior fiscal year period. Consolidated revenue for the third fiscal quarter of 2013 was favorably affected in the amount of $0.1 million by currency fluctuation, as compared with the prior fiscal year period, principally due to gains in the Euro against the U.S. dollar.

Gross margins were 50.9 percent for the third fiscal quarter of 2013, compared with 55.7 percent for the third fiscal quarter of 2012. The decrease in the gross margin over the prior year period was due primarily to the impact of the associated reduction in the high gross margin business at our Medical Products, increased depreciation expenses related to the Company's IT Platform enhancement of $0.5 million as planned, increased IT support services of $0.8 million related to steady state expenses as planned, and increased international costs of $0.2 million, offset by decreased material costs of $0.4 million and decreased service costs of $0.4 million.

Total selling, general and administrative expenses for the third fiscal quarter of 2013 and 2012 were $12.6 million and $12.3 million, respectively. For the third fiscal quarter of 2013, total selling, general and administrative expenses included $0.4 million of additional depreciation expense for the IT platform and $0.2 million of additional customer service support, $0.2 million of increased R&D costs and $0.4 million in other cost increases. Offsetting this was $0.6 million of IT platform enhancement related expens
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SOURCE Landauer, Inc.
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