Cantel Industries Reports Increased Sales and Earnings per Share of $.07 vs. $.05 for the Quarter Ended Oct. 31, 1997.CLIFTON, N.J.--(BUSINESS WIRE)--Dec. 1, 1997--Cantel Industries Inc. (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 $8,192,000 and net income of $293,000, or $0.07 per share for the quarter ended Oct. 31, 1997, as compared with net sales of $7,415,000, and net income of $222,000 or $0.05 per share for the quarter ended Oct. 31, 1996. James P. Reilly, president and chief executive officer of Cantel Industries Inc., stated, "The improvement in the first quarter results reflects an increase in sales of MediVators 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 and related consumables in both the domestic and international markets, as well as overall improvement in our Canadian business Canadian Business is the longest-publishing business magazine in Canada. It was founded in 1928 as The Commerce of the Nation, the organ of the Canadian Chamber of Commerce. The magazine was renamed Canadian Business in 1933. ." Reilly further stated, "We have expanded MediVators' research and development effort, concentrating on the development of new disinfection products which, in addition to being used in the medical market, could be expanded into new areas, such as food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. and sanitation sanitation: see plumbing; sanitary science. ." Reilly added, "We will continue to aggressively pursue additional products, through internal development, acquisitions, licensing and joint ventures, which will expand Cantel's core medical and infection prevention and control and scientific product businesses." Cantel Industries Inc. is a healthcare company concentrating in infection prevention and control products and diagnostic equipment. Through its 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. subsidiary, MediVators Inc., Cantel serves customers worldwide by designing, developing, manufacturing, marketing and distributing innovative products for the infection prevention and control industry. Through its Canadian subsidiary, Carsen Group Inc., Cantel markets and distributes medical equipment (including flexible and rigid endoscopes), precision instruments (including microscopes) and industrial equipment (including remote visual inspection devices). In addition, Carsen distributes a full range of photographic equipment and supplies. Cantel's subsidiaries also provide servicing of their products. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . 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. -0-
Cantel Industries Inc.
Summary of Results
Three Months Ended
Oct. 31
1997 1996
Net Sales $8,192,000 $7,415,000
Net income 293,000 222,000
Earnings per share $0.07 $0.05
Average number of shares 4,383,000 4,321,000
CONTACT: Cantel Industries, Clifton James P. Reilly, 973/470-8700 or Martin E. Janis & Co. Inc., Chicago Elliott Jacobson, 312/943-1100 |
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