Navigation Links
Young Innovations, Inc. Announces Record Sales and EPS for the Quarter and Nine-Months Ended September 30, 2010 and Declares Quarterly Dividend
Date:10/20/2010

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 http://tinyurl.com/Quarter32010 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 30,20102009

Change20102009

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

6,0815,650

7.6%17,18016,043

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

5,9385,425

9.5%17,00315,442

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

$
.49$
.44

11.4%$
.40$
.27

10.2%Basic Weighted Average Shares Outstanding

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

$
.49$
.43

14.0%$
.39$
.25

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

$
339$
7Accounts receivable, net

13,40111,397Inventories

15,91114,816Other current assets

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

33,43533,668Goodwill

80,31280,374Other intangible assets

11,69712,097Other assets

2,1362,732Total assets$
,872$
,000Liabilities and EquityCurrent liabilitiesAccounts payable and accrued liabilities

$
,827$
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$
,872$
,000
'/>"/>

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, 2016 Jeffrey Zucker , ... Trials, will present at this year,s Summit for Clinical Operations ... in Miami, FL. Zucker will discuss ... study execution, supporting SCOPE,s "Improving Site Study Activation and Performance" ... Thursday, Feb. 25 at 11:05 a.m. --> ...
(Date:2/11/2016)... , Feb. 11, 2016  Delcath Systems, Inc. ... medical device company focused on oncology with an ... liver cancers, announces the engagement of Lars ... Global Medical Consultant. Dr. Birgerson will provide strategic ... clinical operations team to help ensure timely facilitation ...
(Date:2/11/2016)... REDWOOD CITY, Calif. , Feb. 11, 2016 /PRNewswire/ ... that a podium presentation will be made at the ... Burn and Wound Care Symposium, which is being ... . This international conference covers the latest advancements in ... endorsed by the American Burn Association, Australian-New Zealand Burns ...
Breaking Medicine Technology:
(Date:2/11/2016)... Colorado (PRWEB) , ... February 11, 2016 , ... Colorado ... Review as one of 334 spine surgeons to know in 2016 . The ... in the field of spine surgery. , Dr. Corenman understands the importance of ...
(Date:2/11/2016)... ... February 11, 2016 , ... Talix today announced ... , will be presenting at the 2016 HIMSS Annual Conference & Exhibition, taking ... During his session, “ Coding for Care: Using Data Analytics for Risk Adjustment ...
(Date:2/11/2016)... Rock, AR (PRWEB) , ... February 11, 2016 , ... ... in their community by announcing a new fundraiser in support of a local boy ... also hopes the campaign will bring awareness to, and rally support for, all local ...
(Date:2/11/2016)... ... February 11, 2016 , ... Pixel Film Studios brings the spirit of the ... the Christmas edition of the ProDrop series. Pick and choose from 30 unique designs ... spirit of Christmas using ProDrop's wintry generators. ProDrop Christmas is a Final Cut Pro ...
(Date:2/11/2016)... , ... February 11, 2016 , ... ... exhibiting at the American Academy of Dermatology Annual Meeting at the Walter E. ... is to raise awareness for both the condition of hyperhidrosis (excessive sweating) and ...
Breaking Medicine News(10 mins):