CANTEL INDUSTRIES INC. Announces Results for the Year Ended July 31, 1997.CLIFTON, N.J.--(BUSINESS WIRE)--Sept. 24, 1997--CANTEL INDUSTRIES INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CNTL CNTL Control ) reported net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $34,987,000, an increase of approximately 17%, and net income of $1,096,000, or 25 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , for the year ended July 31, 1997, compared with net sales of $29,792,000 and net income of $422,000 or 10 cents per share, for the year ended July 31, 1996. For the quarter ended July 31, 1997, the company reported net sales of $10,040,000, an increase of 20% and net income of $268,000, or 6 cents per share, compared with net sales of $8,353,000 and net income of $412,000, or 10 cents per share, for the quarter ended July 31, 1996. James P. Reilly, president and chief executive officer of CANTEL INDUSTRIES INC. stated, "The increase in sales and earnings for the year ended July 31, 1997 reflects the continued improvement in our medical and scientific divisions, as well as in our consumer products division, the impact of the strategic alliance with Olympus America Inc., whereby Olympus has exclusive distribution rights for MediVators' endoscope endoscope, any instrument used to look inside the body. Usually consisting of a fiber-optic tube attached to a viewing device, endoscopes are used to explore and biopsy such areas as the colon and the bronchi of the lungs. disinfection disinfection, n the process of destroying pathogenic organisms or rendering them inert. disinfection, full oral cavity, n a procedure used to reduce active periodontal disease, usually completed within a certain short time frame. equipment in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Central and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , and the growth of MediVators in other international markets." Reilly further stated, "We are pleased with these results, and we expect to see continued improvement in fiscal 1998." Reilly added, "We are continuing our search for acquisitions which will expand our presence in the infection control and diagnostic equipment markets." Cantel, through its U.S. subsidiary, MediVators Inc., designs, manufactures and markets endoscope disinfection equipment and supplies and medical waste disposal systems, and through its Canadian subsidiary, Carsen Group Inc., markets and distributes medical equipment (including flexible and rigid endoscopes), precision instruments (including microscopes and image analysis systems) and industrial equipment (including remote visual inspection devices). Carsen also offers a range of photographic equipment and business products. This press release contains forward-looking statements. All forward-looking statements involve risks and uncertainties, including, without limitation, the risks detailed in the company's filings and reports with the Securities and Exchange Commission. Such statements are only predictions, and actual events or results may differ materially from those projected.
Cantel Industries Inc.
Summary of Results
Three Months Ended Year Ended
July 31, July 31,
1997 1996 1997 1996
Net sales $10,040,000 $ 8,353,000 $34,987,000 $29,792,000
Net income (a) 268,000 412,000 1,096,000 422,000
Earnings per
common share $0.06 $0.10 $0.25 $0.10
Average number of
shares 4,342,000 4,334,000 4,354,000 4,309,000
(a) After deducting charges of $36,000 and $486,000 in the quarter and year ended July 31, 1996, respectively, associated with the MediVators merger, which was treated as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . CONTACT: Cantel Industries Inc. James P. Reilly, 973/470-8700 or Martin E. Janis & Co. Inc. Elliott Jacobson, 312/943-1100 |
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