Atrion Reports Third Quarter Results
Diluted EPS Increases by 8%
(firmenpresse) - ALLEN, TX -- (Marketwire) -- 11/07/12 -- Atrion Corporation (NASDAQ: ATRI) today announced that for the third quarter of 2012 diluted earnings per share were up 8% and revenues were up 1% compared to the results for the third quarter of 2011.
Atrion's revenues for the quarter ended September 30, 2012 totaled $30.6 million compared with $30.5 million for the same period in 2011. On a diluted per share basis, earnings for the period increased to $3.59 as compared to $3.33 for the same quarter of last year. Net income for the third quarter totaled $7.3 million compared to $6.8 million in last year's third quarter.
Commenting on the results of the third quarter compared to the same period of 2011, David Battat, President and CEO, said, "Revenues for the quarter were flat, with a strong increase in fluid delivery products offsetting lower sales in some areas and quarter-to-quarter fluctuations in others, proving once again the value of a diversified product portfolio. As anticipated, the decline in ophthalmic shipments this past quarter moderated from the level in the first half of this year. Operating income was $327,000 lower than in last year's quarter, a 3% decrease primarily attributable to a $303,000 increase in depreciation and amortization. Last year we spent about $12 million on equipment and automation to increase capacity in select product areas, as well as to continuously improve quality and efficiency throughout our facilities. A similar amount was budgeted for 2012. Depreciation of new equipment begins when each asset is placed in service following the lengthy validations required by regulatory authorities." Mr. Battat added, "The improvement in diluted EPS in this year's third quarter resulted from a significant decrease in our tax rate from 34.4% last year to 28.0% due to the recapture of certain R&D tax credits that were initially disallowed by the IRS. After a lengthy process, an IRS arbitration panel ruled in our favor allowing us 100% of the claimed credits." Mr. Battat concluded, "Significant cash was generated in the quarter increasing cash and investments by $8.8 million to $62.2 million."
Atrion Corporation develops and manufactures products primarily for medical applications. The Company's website is .
Contact:
Jeffery Strickland
Vice President and Chief Financial Officer
(972) 390-9800
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 07.11.2012 - 21:30 Uhr
Sprache: Deutsch
News-ID 200777
Anzahl Zeichen: 0
contact information:
Town:
ALLEN, TX
Kategorie:
Healthcare
Diese Pressemitteilung wurde bisher 226 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Atrion Reports Third Quarter Results"
steht unter der journalistisch-redaktionellen Verantwortung von
Atrion Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
