Cantel Medical Reports Results for Quarter Ended April 30, 2008.* Sales increase of 18% * EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. of $0.12 (including costs of $0.03 related to the resignation of former President) 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 $2,001,000, or $0.12 per diluted share, on an 18% increase in sales to $64,178,000 for the third quarter ended April 30, 2008. The results for the third quarter included costs of approximately $720,000, or $0.03 per diluted share, related to the resignation of the former President. This compares with income from continuing operations of $2,230,000, or $0.14 per diluted share, on sales of $54,412,000 for the third quarter ended April 30, 2007. For the nine months ended April 30, 2008, the Company reported income from continuing operations of $6,097,000, or $0.37 per diluted share (including costs of $0.03 related to the resignation of the former President), on an 18% increase in sales to $185,093,000. This compares with income from continuing operations of $6,205,000, or $0.39 per diluted share, on sales of $156,531,000 for the nine months ended April 30, 2007. According to Andrew Krakauer, Cantel's President, "We were pleased with our revenue growth in the third quarter, as well as in the first nine months of 2008. Excluding costs related to the resignation of our former President, Cantel's earnings performance for the third quarter was one of the best in the past three years. We had a strong performance in the renal business and significantly improved results in the 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:
The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. in the third quarter declined due to a number of factors including sales and marketing investments and lower gross margins due to increased raw material and other costs. We are addressing gross margin issues throughout Cantel with several programs including initiation of price increases. In addition, we are optimistic as we go forward that Cantel will realize the benefits of ongoing efforts to reduce operating and overhead costs overhead costs see fixed costs. , as well as lower interest costs." The Company further reported that its balance sheet at April 30, 2008 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 $87,304,000, including cash of $19,310,000, a current ratio of 2.55:1, a ratio of funded debt to equity of .38:1, debt of $63,800,000 and stockholders' equity of $166,775,000. Krakauer added, "Cantel continues to be a strong cash generator and during the third quarter the Company reduced its net debt position by 15% or over $8 million." 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 third quarter ended April 30, 2008 on Thursday, June 5, 2008 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 Thursday, June 5 at 2:00 PM through midnight on June 6, by dialing 1-877-660-6853 and using passcode #286 and conference ID #287083. The call will be simultaneously broadcast live over the Internet on vcall.com at http://www.investorcalendar.com/IC/CEPage.asp?ID=130277. 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] [TABLE OMITTED] |
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