Printer Friendly

CABOT MEDICAL ANNOUNCES FIRST QUARTER SALES AND EARNINGS

 LANGHORNE, Pa., Feb. 23 /PRNewswire/ -- Cabot Medical Corporation (NASDAQ-NMS: CBOT) today announced sales and earnings for the first quarter ended Jan. 30, 1993.
 Net sales for the first quarter, which included a contribution from the Surgitek operation, were up 67 percent to $18,095,000 compared to $10,847,000 in the prior year's first quarter. Net earnings for the first quarter were $727,000 or $0.09 per share compared to the previous years net earnings of $696,000 or $0.09 per share. Operating results for the first quarter of 1992 do not include Surgitek's operations.
 Commenting on the first quarter results, Warren Wood, chairman and chief executive officer of Cabot Medical, stated, "We are gratified by this return to profitability. This is the first quarter in which contributions from Surgitek have not been substantially impacted by special charges. Although our earnings on a quarterly comparison basis were essentially flat due to $1,769,000 of interest and non-cash amortization charges associated with the Surgitek acquisition, gross margins and operating margins are at all time highs and will provide the basis for continued profitability during the remainder of the fiscal year."
 Cabot Medical designs, develops, manufactures and markets a variety of medical devices and systems for minimally invasive general, gynecological and urological surgical and diagnostic procedures.
 CABOT MEDICAL CORPORATION
 Condensed Statement of Earnings
 (Unaudited)
 Three Months Ended 1/30/93 2/1/92
 Net Sales $18,095,000 $10,847,000
 Cost of Sales 6,984,000 5,146,000
 Gross Profit 11,111,000 5,701,000
 Operating Expenses 8,294,000 4,341,000
 Operating Income 2,817,000 1,360,000
 Interest & Other, Net 1,390,000 139,000
 Earnings before Income Taxes 1,427,000 1,221,000
 Net Earnings $ 727,000 $ 696,000
 Earnings per Common Share
 and Common Share equivalents:
 Primary $0.09 $0.09
 Fully diluted $0.09 $0.09
 Weighted average number of
 Common Shares and Common
 Share equivalents:
 Primary 8,378,790 8,084,565
 Fully diluted 8,504,553 8,096,424
 The board of directors of Cabot Medical Corp. declared a 2 percent common stock dividend payable on Feb. 26, 1993, to stockholders of record on Feb. 12. Earnings per share data have been retroactively restated for all periods presented to show the effect of the stock dividend.
 Net sales and net earnings for the three months ended Feb. 1, 1992, does not reflect the result of the urological business acquisition which occurred on July 29, 1992
 /delval/
 -0- 2/23/93
 /CONTACT: Marvin Sharfstein of Cabot Medical, 215-752-8300/
 (CBOT)


CO: Cabot Medical Corporation ST: Pennsylvania IN: MTC SU: ERN

MK -- PH007 -- 9354 02/23/93 10:47 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 23, 1993
Words:452
Previous Article:FIRST FIDELITY TO ACQUIRE VILLAGE FINANCIAL IN WESTCHESTER COUNTY FOR $66 MILLION
Next Article:EGGHEAD SOFTWARE OPENS NEW STORE IN EUGENE, ORE.
Topics:


Related Articles
CABOT MEDICAL ANNOUNCES RECORD QUARTER AND FISCAL YEAR END RESULTS; COMPANY ONCE AGAIN ATTAINS RECORD SALES AND EARNINGS
CABOT MEDICAL ANNOUNCES SALES AND EARNINGS FOR FIRST QUARTER
CABOT MEDICAL ANNOUNCES SECOND QUARTER AND FIRST HALF RESULTS
CABOT MEDICAL CORPORATION ANNOUNCES THIRD QUARTER AND NINE MONTH RESULTS
CABOT MEDICAL ANNOUNCES SECOND QUARTER FINANCIAL RESULTS AND DECLARES STOCK DIVIDEND
CABOT MEDICAL ANNOUNCES PRELIMINARY YEAR-END RESULTS AND DECLARES STOCK DIVIDEND
CABOT MEDICAL ANNOUNCES FIRST QUARTER RESULTS
CABOT MEDICAL ANNOUNCES FIRST QUARTER SALES AND EARNINGS
CABOT MEDICAL ANNOUNCES SECOND QUARTER SALES AND FIRST HALF RESULTS
CABOT MEDICAL CORPORATION REPORTS THIRD QUARTER AND NINE MONTHS RESULTS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters