Cantel Medical Reports Results for Quarter Ended October 31, 2006.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 net 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 $1,723,000, or $0.11 per diluted share, for the quarter ended October 31, 2006, as compared with net income from continuing operations of $2,218,000, or $0.13 per diluted share, for the quarter ended October 31, 2005. Sales for the quarter ended October 31, 2006 were $50,484,000, an increase of 6%, as compared with sales of $47,812,000 for the quarter ended October 31, 2005. The Company reported net income from discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. (the termination of our Carsen subsidiary's distribution of medical and scientific products in Canada) of $245,000, or $0.01 per diluted share, for the quarter ended October 31, 2006, as compared with net income from discontinued operations of $1,660,000, or $0.10 per diluted share, for the quarter ended October 31, 2005. The Company also reported $132,000, net of tax, in wind down costs related to the disposal of the discontinued operations during the quarter ended October 31, 2005. Mr. James P. Reilly, President and Chief Executive Officer of Cantel, commented, "As anticipated and previously discussed, during the first quarter we continued to transition from a company distributing other companies' products to a company developing, manufacturing and distributing our own proprietary products." Reilly further commented, "Based upon the strong results achieved by our dental segment, the anticipated performance of our new direct sales and service team 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 Company further reported that its balance sheet at October 31, 2006 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 $73,465,000, including cash of $20,480,000, a current ratio of 2.6:1, 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 .26:1, net debt of $16,520,000 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 $143,653,000. 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 quarter ended October 31, 2006 on Thursday, December 7, 2006 at 11:00 AM Eastern time. To participate in the conference call, dial 1-877-407-0778 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, December 7 at 2:00 PM through midnight on December 8, by dialing 1-877-660-6853 and using passcode #286 and conference ID #222921. The call will be simultaneously broadcast live over the Internet on vcall.com at http://www.vcall.com/IC/CEPage.asp?ID=112167. 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. 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. [TABLE OMITTED] [TABLE OMITTED] |
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