Cantel Medical Reports EPS of $0.12 vs. $0.06 on 25% Increase in Sales for Quarter Ended July 31, 2007.LITTLE FALLS, N.J. -- CANTEL MEDICAL CORP. (NYSE NYSE See: New York Stock Exchange :CMN CMN Common CMN Children's Miracle Network (since 1983; Salt Lake City, Utah) CMN Certificate of Medical Necessity CMN Canadian Museum of Nature CMN Community Mapping Network CMN Common Information ) reported income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of $1,899,000, or $0.12 per diluted share, on a 25% increase in sales to $62,513,000 for the fourth quarter ended July 31, 2007, inclusive of approximately $0.02 in expenses related to recent acquisitions and executive transition, as well as $0.03 of stock-based compensation. This compares with income from continuing operations of $922,000, or $0.06 per diluted share, on sales of $50,140,000 for the fourth quarter ended July 31, 2006, including $0.01 of stock-based compensation expense. For the fiscal year ended July 31, 2007, the Company reported income from continuing operations of $8,104,000, or $0.50 per diluted share, on a 14% increase in sales to $219,044,000, inclusive of expenses of $0.03 related to recent acquisitions and executive transition, as well as $0.06 of stock-based compensation. This compares with income from continuing operations of $6,653,000, or $0.41 per diluted share, on sales of $192,179,000 for the fiscal year ended July 31, 2006, including $0.05 of stock-based compensation expense. According to R. Scott Jones, Cantel's President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , "We are pleased with our core growth of 15% in the fourth quarter and 10% for fiscal year 2007, as compared with the same periods in 2006. During the past year, we have made substantial investments in the Company which have begun to pay-off in terms of recent top-line growth, particularly in the Water Purification and 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. Reprocessing Reprocessing may refer to:
In line with its strategy to make synergistic acquisitions and add to existing growth platforms, the Company completed two acquisitions (GE Water & Process Technologies' dialysis water business and Twist 2 It Inc.) during the fiscal year and three acquisitions (Dialysis Services, Inc., Verimetrix, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Strong Dental Products, Inc.) during the past three months. These transactions have added several important proprietary branded products to its water purification and filtration, endoscope reprocessing and healthcare disposables (previously referred to as dental) product lines. The Company further reported that its balance sheet at July 31, 2007 included current assets Current Assets Appearing on a company's balance sheet, it represents cash, accounts receivable, inventory, marketable securities, prepaid expenses, and other assets that can be converted to cash within one year. of $76,731,000, including cash of $15,860,000, a current ratio of 2.1:1, a ratio of funded debt Funded Debt Long-term debt that matures after more than one year. Notes: This is usually issued as a bond or a long-term note. See also: Bond, Debt, Maturity, Note Funded debt Debt maturing after more than one year. to equity of .37:1, debt of $57,000,000 and stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. of $155,070,000. Cantel Medical Corp. is a leading provider of infection prevention and control products in the healthcare market. Our products include specialized medical device reprocessing systems for renal dialysis and endoscopy endoscopy Examination of the body's interior through an instrument inserted into a natural opening or an incision, usually as an outpatient procedure. Endoscopes include the upper gastrointestinal endoscope (for the esophagus, stomach, and duodenum), the colonoscope (for the , dialysate dialysate /di·al·y·sate/ (di-al´i-sat) the fluid and solutes in a dialysis process that flow through the dialyzer, do not pass through the membrane, and are discarded along with removed toxic substances after leaving the dialyzer. concentrates and other dialysis supplies, disposable infection control products primarily for the dental industry, water purification equipment, sterilants, disinfectants and cleaners, hollow fiber membrane filtration and separation products for medical and non-medical applications, and specialty packaging for infectious and biological specimens. We also provide technical maintenance for our products and offer compliance training services for the transport of infectious and biological specimens. The Company will hold a conference call to discuss the results for the fourth quarter ended July 31, 2007 on Tuesday, October 9, 2007 at 11:00 AM Eastern time. To participate in the conference call, dial 1-877-407-8035 approximately 5 to 10 minutes before the beginning of the call. If you are unable to participate, a digital replay of the call will be available from Tuesday, October 9 at 2:00 PM through midnight on October 10, by dialing 1-877-660-6853 and using passcode #286 and conference ID #257825. The call will be simultaneously broadcast live over the Internet on vcall.com at http://www.vcall.com/IC/CEPage.asp?ID=121882. A replay of the webcast will be available on Vcall for 30 days. For further information, visit the Cantel website at www.cantelmedical.com. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements involve a number of risks and uncertainties, including, without limitation, the risks detailed in Cantel's filings and reports with the Securities and Exchange Commission. Such forward-looking statements are only predictions, and actual events or results may differ materially from those projected or anticipated. [TABLE OMITTED] [TABLE OMITTED] |
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