Navigation Links
Young Innovations, Inc. Announces Record Sales and EPS for the Quarter and Nine-Months Ended September 30, 2010 and Declares Quarterly Dividend

ST. LOUIS, Oct. 20 /PRNewswire-FirstCall/ -- Young Innovations, Inc. (Nasdaq: YDNT) today announced record sales and earnings per share for the third quarter and the nine-months ended September 30, 2010.

Sales for the third quarter of 2010 were $26.4 million, an increase of 6.5% over the $24.8 million reported for the third quarter of 2009. Income from operations for the third quarter increased 7.6% to $6.1 million from $5.7 million in the prior year quarter. Net income for the third quarter increased 12.8% to $3.9 million from $3.5 million in the third quarter of 2009. Diluted earnings per share for the third quarter of 2010 were $0.49, an increase of 14.0% over the $0.43 reported in the prior year quarter. Diluted earnings per share were affected by equity compensation expense of $0.04 and $0.03 in the third quarter of 2010 and 2009 respectively, and diluted shares outstanding for the quarter were 8.0 million for the quarter, unchanged from the prior year quarter.

For the nine months ended September 30, 2010, sales were $77.0 million, increasing 5.2% from the $73.2 million reported in the prior year period. Income from operations increased 7.1% to $17.2 million for the nine months ended September 30, 2010 from $16.0 million in the prior year period. Net income was $11.2 million for the nine months ended September 30, 2010, increasing 12.2% from $10.0 million in the prior year period. Diluted earnings per share were $1.39 for the nine months ended September 30, 2010, an increase of 11.2% from $1.25 in the prior year period. Diluted earnings per share were affected by equity compensation expense of $0.11 and $0.10 for the nine months ended September 30, 2010 and 2009, respectively, while diluted shares outstanding for the nine months ended September 30, 2010 increased 1.2% to 8.0 million from the prior year period.

We are pleased with the overall strength of our sales in the quarter. Our diagnostic product line continued to strengthen during the third quarter as sales increased for the second consecutive quarter. Demand for our consumables products also remained strong, posting solid increases over the prior year quarter. A stronger U.S. dollar negatively impacted sales by approximately $145,000.

We remain focused on executing our strategy for growth. We added resources to support and enhance our sales and marketing efforts. We increased the operating efficiency of the business through process automation and consolidating our Brownsville, Texas facility into our Earth City operation. We also continued to make progress on our new product development program. During the quarter, we launched a pink disposable prophy angle in support of breast cancer awareness and added a fluoride varnish to our Zooby line of children's themed preventive products.

We are pleased with our employees' successful execution of our strategy during difficult economic times. The Company's balance sheet continued to strengthen as bank debt was further reduced to roughly $4.2 million by the end of the third quarter. We will continue to invest in systems, product development, and processes in order to maximize opportunities for growth.

The company also announced that on October 19, 2010 the Board of Directors declared a quarterly dividend of $0.04 per share, payable by the Company on December 15, 2010 to all shareholders of record on November 15, 2010.

A conference call has been scheduled for Thursday, October 21, 2010 at 1:00 P.M. Central Time and can be accessed through InterCall at or the Company's website,

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 30,20102009


ChangeNet Sales

$ 26,423$ 24,805

6.5%$ 76,982$ 73,206

5.2%Cost of Goods Sold

$ 11,84110,857

9.1%$ 34,00332,264

5.4%Gross Profit

$ 14,582$ 13,948

4.5%$ 42,979$ 40,942

5.0%% of Net Sales

55.2%56.2%55.8%55.9%Selling, General and Administrative Expense

$   8,5018,298

2.4%$ 25,79924,899

3.6%% of Net Sales

32.2%33.5%33.5%34.0%Income from Operations



7.1%% of Net Sales

23.0%22.8%22.3%21.9%Interest expense, net

81172263506Other (income) expense, net

6253(86)95Income Before Taxes



10.1%Provision for Income Taxes

2,0191,9515,8265,482Net Income

$   3,919$   3,474

12.8%$ 11,177$   9,960

12.2%% of Net Sales

14.8%14.0%14.5%13.6%Basic Earnings Per Share



10.2%Basic Weighted Average Shares Outstanding

7,9537,9127,9697,866Earnings Per Share (Diluted)



11.2%Diluted Weighted Average Shares Outstanding

8,0138,0408,0387,939Young Innovations, Inc.Consolidated Balance SheetSeptember 30, 2010 and December 31, 2009(in thousands, except per share data)(Unaudited)September 30December 31Assets20102009Current assetsCash

7Accounts receivable, net


15,91114,816Other current assets

4,6414,849Total current assets34,29231,129Property, plant and equipment, net


80,31280,374Other intangible assets

11,69712,097Other assets

2,1362,732Total assets$
,000Liabilities and EquityCurrent liabilitiesAccounts payable and accrued liabilities

8,377Total current liabilities10,8278,377Long-term debt

4,20013,979Long-term secured borrowing

166550Deferred income taxes

15,88615,947Other noncurrent liabilities

261282Total liabilities31,34039,135Stockholders' equityCommon stock

102102Additional paid-in capital

23,74723,985Retained earnings

156,020145,756Common stock in treasury, at cost

(49,219)(49,090)Accumulated other comprehensive income (loss)

(118)112Total stockholders' equity130,532120,865Total liabilities and stockholders' equity$

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:
(Date:11/30/2015)... , Nov. 30, 2015 ... of the "Orphan Drugs Market 2015-2019" ... ) has announced the addition of the ... offering. --> Research and Markets ( ... "Orphan Drugs Market 2015-2019" report to ...
(Date:11/30/2015)... , Nov. 30, 2015   Royal ... announced the launch of Radiology Solutions, a fully ... Radiology Solutions comprises customized, data-driven practice management approaches ... to help radiology practices improve care delivery and ... 2015 Radiological Society of North America Annual Meeting ...
(Date:11/30/2015)... SAN FRANCISCO , Nov. 30, 2015 ... and Designers of Things (DoT ) co-located events ... Printing and the Internet of Things, will draw more ... San Jose Convention Center. The events, combined ... their latest technologies. --> ...
Breaking Medicine Technology:
(Date:11/30/2015)... ... November 30, 2015 , ... An inventor from Charlottesville, Va., is concerned ... last baby had high blood pressure due to loud noises," she said, "so I ... from noise pollution as well as radio waves and microwaves." , The baby BABY ...
(Date:11/30/2015)... ... November 30, 2015 , ... ... suite of automated breast density assessment and enterprise analytics solutions, here at ... 4, 2015 (South Hall booth #2377). Volpara’s quantitative breast imaging tools enable ...
(Date:11/30/2015)... ... November 30, 2015 , ... Holcomb – ... leading plastic surgery practices in Florida, is proud to announce that Dr. Joshua ... innovations giant Ethicon Inc., a Johnson & Johnson Company. , Ethicon is a ...
(Date:11/30/2015)... ... November 30, 2015 , ... The successful filing of an Investigational ... it is so important to this key industry segment, Regis Technologies has decided to ... on December 4th at 11am EST. , Federal law does not allow new drugs ...
(Date:11/30/2015)... Phoenixville, PA (PRWEB) , ... November 30, 2015 ... ... all of the assets of DataTrade Solutions Inc., a Healthcare IT consulting, development ... by utilizing the programming and technical experience available within DataTrade to extend the ...
Breaking Medicine News(10 mins):