Navigation Links
Young Innovations, Inc. Announces Record EPS for the Quarter and Record Sales and EPS for the Nine-Months Ended September 30, 2011 and Declares Quarterly Dividend
Date:10/19/2011

ST. LOUIS, Oct. 19, 2011 /PRNewswire/ -- Young Innovations, Inc. (NASDAQ: YDNT) today announced record earnings per share for the third quarter and record sales and EPS for the nine-months ended September 30, 2011.

Sales for the third quarter of 2011 were $26.2 million, a decrease of 0.9% from the $26.4 million reported for the third quarter of 2010. Income from operations for the third quarter increased 2.8% to $6.3 million from $6.1 million in the prior year quarter. Net income for the third quarter increased 4.6% to $4.1 million from $3.9 million in the third quarter of 2010. Diluted earnings per share for the third quarter of 2011 were $0.51, an increase of 4.1% over the $0.49 reported in the prior year quarter. Diluted earnings per share were affected by equity compensation expense of $0.04 in both the third quarter of 2011 and 2010.  Diluted shares outstanding were 8.0 million for the 2011 quarter, unchanged from the prior year quarter.

For the nine months ended September 30, 2011, sales were $79.5 million, increasing 3.3% from the $77.0 million reported in the prior year period. Income from operations increased 6.1% to $18.2 million for the nine months ended September 30, 2011 from $17.2 million in the prior year period. Net income was $12.1 million for the nine months ended September 30, 2011, increasing 8.6% from $11.2 million in the prior year period. Diluted earnings per share were $1.51 for the nine months ended September 30, 2011, an increase of 8.6% from $1.39 in the prior year period. Diluted earnings per share were affected by equity compensation expense of $0.11 for both the nine months ended September 30, 2011 and 2010.  Diluted shares outstanding for the nine months ended September 30, 2011 increased 0.3% to 8.1 million from the prior year period.

During the quarter, demand for consumables was negatively affected by the ongoing weak economy, as well as the timing of orders from OEM and international customers. We continued to experience a solid increase in demand for our diagnostic product line. Despite relatively flat sales performance, we are pleased with the overall strength of our earnings in the quarter. A weaker U.S. dollar positively impacted sales by approximately $136,000.

We remained focused on executing our strategy for growth during the quarter. We enhanced our sales capacity and made significant progress toward future product launches. We also took steps to consolidate a number of administrative and light assembly operations into our Algonquin facility.

We are pleased with the efforts of our employees to make significant improvements in operating results in an uncertain economic environment. We are confident that continued investments in key initiatives and our strong balance sheet have well-positioned the Company for future growth.

The company also announced that on October 18, 2011 the Board of Directors declared a quarterly dividend of $0.04 per share, payable on December 15, 2011 to all shareholders of record on November 15, 2011.

A conference call has been scheduled for Thursday, October 20, 2011 at 11:00 A.M. Central Time and can be accessed through InterCall at http://tinyurl.com/YI-Quarter32011 or the Company's website, www.ydnt.com.

Young Innovations develops, manufactures and markets supplies and equipment used by dentists, dental hygienists, dental assistants and consumers. The Company's consumables product offering includes disposable and metal prophy angles, prophy cups and brushes, dental micro-applicators, moisture control products, infection control products, dental handpieces (drills) and related components, endodontic systems, orthodontic toothbrushes, flavored examination gloves, children's toothbrushes, and children's toothpastes. In addition, the Company offers a line of diagnostic products that includes panoramic X-ray machines and related supplies. The Company believes it is a leading U.S. manufacturer or distributor of prophy angles and cups, liquid surface disinfectants, dental micro-applicators and obturation units designed for warm, vertical condensation.

Investors are cautioned that this press release as well as other reports and oral statements by Company officials may contain certain forward-looking statements as defined in the Private Securities Litigation and Reform Act of 1995.  Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions and which include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," or similar expressions.  These statements are not guarantees of future performance and the Company makes no commitment to update or disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that may bear upon forward-looking statements.  Because such statements involve risks and uncertainties, actual actions and strategies and the timing and expected results thereof may differ materially from those expressed or implied by such forward-looking statements.  These risks and uncertainties include, but are not limited to, those disclosed in the Company's Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.Young Innovations, Inc.Consolidated Statements of Income(In thousands, except earnings per share data)(Unaudited)(In Thousands USD)Three Months EndedNine Months EndedSeptember 30,September 30,20112010

Change20112010

ChangeNet Sales

$ 26,197$ 26,423

-0.9%$ 79,548$ 76,982

3.3%Cost of Goods Sold

$ 11,585$ 11,841

-2.2%$ 35,325$ 34,003

3.9%Gross Profit

$ 14,612$ 14,582

0.2%$ 44,223$ 42,979

2.9%% of Net Sales

55.8%55.2%55.6%55.8%Selling, General and Administrative Expense

$   8,359$   8,501

-1.7%$ 26,000$ 25,799

0.8%% of Net Sales

31.9%32.2%32.7%33.5%Income from Operations

6,2536,081

2.8%18,22317,180

6.1%% of Net Sales

23.9%23.0%22.9%22.3%Interest expense, net

(49)(81)(177)(263)Other income (expense), net

100(62)56886Income Before Taxes

6,3045,938

6.2%18,61417,003

9.5%Provision for Income Taxes

2,2042,0196,4775,826Net Income

$   4,100$   3,919

4.6%$ 12,137$ 11,177

8.6%% of Net Sales

15.7%14.8%15.3%14.5%Basic Earnings Per Share

$
.51$
.49

4.1%$
.51$
.40

7.9%Basic Weighted Average Shares Outstanding

8,0187,9538,0137,969Earnings Per Share (Diluted)

$
.51$
.49

4.1%$
.51$
.39

8.6%Diluted Weighted Average Shares Outstanding

8,0418,0138,0658,038YI ConsolidatedConsolidated Balance SheetSeptember 30, 2011 and December 31, 2010(In Thousands USD)(Unaudited)September 30December 31Assets20112010Current assetsCash

$
4,000$
741Accounts receivable, net

13,34011,721Inventories

17,59817,260Other current assets

4,8054,861Total current assets39,74334,583Property, plant and equipment, net

32,72633,162Goodwill

80,30080,289Intangible assets

11,26011,579Other assets

1,5082,012Total assets$
5,537$
,625Liabilities and EquityCurrent liabilitiesAccounts payable and accrued liabilities

$
,236$
,700Total current liabilities10,23610,700Long-term debt

-6,100Long-term secured borrowing

2256Deferred income taxes

17,48417,417Other noncurrent liabilities

240248Total liabilities27,98234,521Stockholders' equityCommon stock

102102Additional paid-in capital

24,08424,190Retained earnings

162,607151,458Common stock in treasury, at cost

(49,090)(48,484)Accumulated other comprehensive income

(148)(162)Total stockholders' equity137,555127,104Total liabilities and stockholders' equity$
5,537$
,625
'/>"/>

SOURCE Young Innovations, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Younger Adults Increasingly Treated for Heart Disease-related Conditions
2. New Risk Factor for Heart Disease Identified in Very Young Children, According to Study at American Heart Association Scientific Sessions
3. Childrens Hospital Cancer Study Finds Adolescents and Young Adults Dont Get Same Access to Cutting-Edge Treatment as Younger Patients
4. Mayo Clinic Study Identifies Potential Causes of Young-Onset Dementia
5. St. Jude Finds Young Age May Give Survival Advantage to Children With Certain Brain Tumors
6. Karmanos Doctors Urge Increased Screening for Previously Treated Lung Cancer Patients, Especially Young Women
7. AstraZeneca Submits an sNDA for SYMBICORT(R) for the Treatment of Asthma in Children as Young as Age Six
8. Young Women Diagnosed with Early-Stage Breast Cancer More Likely to Die than Older Women
9. Wyeth Submits European Marketing Authorization Application for its 13-Valent Vaccine for the Prevention of Pneumococcal Disease in Infants and Young Children
10. Thomson Reuters Study Finds Sharp Increase in Use of Sleep Medications by Young Adults
11. Mayo Clinic Study Finds Younger Men With Erectile Dysfunction at Double Risk of Heart Disease
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... , 11 de fevereiro de 2016  A ... sua fábrica de soroalbumina bovina (BSA -- ... fábrica fica na Ilha Norte da Nova Zelândia, ... e estabelecido na fábrica da Proliant nos EUA, ... O projeto e instalação dos equipamentos foram feitos ...
(Date:2/11/2016)... February 11, 2016 Breast Cancer Therapeutics ... Asia-Pacific (APAC) breast cancer market will ... billion by 2021, at a Compound Annual Growth Rate (CAGR) ... Markets to 2021 - states that the ... expansion from $1.9 billion in 2014 to $3.4 billion by ...
(Date:2/11/2016)... , February 11, 2016 ... at Worldwide Clinical Trials, will present at this year,s Summit ... the Hyatt Regency in Miami, FL. ... partnerships to optimize study execution, supporting SCOPE,s "Improving Site Study ... take place on Thursday, Feb. 25 at 11:05 a.m. ...
Breaking Medicine Technology:
(Date:2/11/2016)... ... February 11, 2016 , ... ... a master charity program created to assist the people of their local community. ... with nonprofit organizations and community leaders. Their hope is to bring awareness to ...
(Date:2/11/2016)... ... February 11, 2016 , ... Duterte Insurance Group, serving the ... a new charity campaign to raise funds for Ronald McDonald House Charities. On ... https://donate.rmhc.org/ . , Ronald McDonald House (RMH) is an internationally renowned nonprofit organization ...
(Date:2/11/2016)... VA (PRWEB) , ... February 11, 2016 , ... ... its new office in the heart of Old Town at 108 South Columbus St, ... and businesses the highest level of medical care in the convenience of their homes, ...
(Date:2/11/2016)... Denver, CO. (PRWEB) , ... February 11, 2016 ... ... American people have become more actively engaged in health and wellness best practices ... the importance of riding this trend. February is American Heart Month, which acts ...
(Date:2/10/2016)... ... 10, 2016 , ... President Obama’s budget proposal yesterday enables ... medical services via telehealth, estimated to generate more than $160 million in savings ... many years. Although there is more to be done, this represents an ...
Breaking Medicine News(10 mins):