Marquette Electronics, Inc. reports third quarter earnings up 16%.
Year-to-date results include eight months activity from operations related to Corometrics Medical Systems, Inc., a manufacturer of fetal monitors and clinical information systems acquired on May 31, 1994.
Net sales for the third quarter were $93.0 million, an increase of 44.1% over $64.5 million last year. Net sales for the nine-month period increased 38.1% to $256.3 million from $185.6 million last year. Year-to-date sales increased 30.4% due to the Corometrics product lines with all Marquette lines performing above last year to contribute to the remaining 7.7% increase.
Operating income for the quarter was $10.3 million, an increase of 35.2% over the third quarter last year. Operating income for the nine-month period increased 31.4% to $26.9 million from $20.5 million in the same period last year. Interest expense, related primarily to acquisition debt, was $.9 million in the quarter and $2.0 million in the nine-month period ended January 31, 1995.
Barry Allen, President, commented, "Solid performance in our core lines and key strategic alliances are helping to keep Marquette competitive in a dynamic health care environment."
Marquette Electronics, Inc. is a leading manufacturer of medical electronic equipment and systems for the diagnosis and monitoring of patients requiring critical care. The Company is a world market leader in sales of computerized electrocardiographic equipment and related supplies, and is also one of the market leaders in sales of systems used for monitoring of vital patient physiological parameters.
MARQUETTE ELECTRONICS, INC. CONSOLIDATED FINANCIAL INFORMATION UNAUDITED (000's)
Three Months Ended Nine Months Ended January 31 January 31
1995 1994 1995 1994
Net sales $92,969 $64,521 $256,260 $185,558
Gross profit $47,892 $34,266 $131,551 $ 96,197
Operating income $10,325 $ 7,635 $ 26,936 $ 20,497
Net Income $ 6,112 $ 5,257 $ 15,838 $ 13,011
Per Class A Common Share:
Net Income $ .38 $ .33 $ .98 $ .81
Shares used in per share calculation 16,197 16,101 16,166 16,084
CONTACT: Marquette Electronics, Inc., Milwaukee
Barry K. Allen or Mary M. Kabacinski, 414/355-5000
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|Date:||Feb 9, 1995|
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