MENTOR REPORTS RECORD QUARTER
MENTOR REPORTS RECORD QUARTER SANTA BARBARA, Calif., July 16 /PRNewswire/ -- Mentor Corp.
(NASDAQ: MNTR) today reported record sales and earnings for the first quarter ended June 30, 1992.
Net income for the quarter was $2.6 million, or $0.24 per share, compared to $1.7 million, or $0.16 per share last year, an increase of 50 percent. Sales for the first quarter were $27.7 million, an increase of 24 percent over sales of $22.4 million last year. Sales growth was led primarily by a resurgence in plastic surgery sales following the lifting of the Food and Drug Administration moratorium on breast implants, by strong international sales and by a strong performance from urological surgical products. "We are very pleased with this quarter's results," said Christopher J. Conway, Mentor's chairman. "The excellent growth in earnings is due to sales growth, improved gross profit margins, reduction in regulatory expenses and improved performance by Teknar, the company's ultrasound imaging subsidiary." Mentor Corp. produces medical and surgical devices for the specialties of urology, plastic surgery and ophthalmology. MENTOR CORP. Consolidated Statements of Income (In thousands, except per share data) 1991 Net sales $27,726 $22,353 Costs and expenses Cost of sales 9,613 8,458 Selling, general and administrative 12,083 9,323 Research and development 1,384 1,577 Total 23,080 19,358 Operating income 4,646 2,995 Interest expense (565) (544) Interest income 92 193 Other (expense) income (123) (56) Income before income taxes 4,050 2,588 Income taxes 1,442 854 Net income $2,608 $1,734 Net income per share $0.24 $0.16 Dividends per share $0.04 $0.04 -0- 7/16/92 /CONTACT: Christopher J. Conway, chairman of Mentor, 805-681-6000/ (MNTR) CO: Mentor Corp. ST: California IN: MTC SU: ERN EH-JL -- LA006 -- 9864 07/16/92 08:41 EDT
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|Date:||Jul 16, 1992|
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