Atrion Reports Third Quarter Results
(firmenpresse) - ALLEN, TX -- (Marketwired) -- 10/31/14 -- Atrion Corporation (NASDAQ: ATRI) today announced that for the third quarter of 2014 revenues totaled $36.6 million compared with $34.0 million for the same period in 2013. Operating income for the just ended quarter was $11.2 million compared to $10.7 million in the same period of 2013. On a diluted per share basis, earnings for the period increased to $3.91 as compared to $3.81 for the same quarter of last year. Net income for the third quarter of $7.7 million was the same in last year's third quarter.
Commenting on the results for the third quarter compared to the same period of 2013, David Battat, President and CEO, said, "Overall sales were up 8%, with improvements in all product areas. Fluid delivery products increased 11%, and sales of non-medical products in our 'Other' category showed an increase of 14%. The substantial growth in this latter category skewed our operating income somewhat for the quarter, as margins for these non-medical products are lower. Changes in our product mix resulted in gross profit increasing by a smaller 6%, and in a 5% increase in operating income for the quarter." Mr. Battat continued, "Despite these improvements, net income was flat as our tax rate was 9% higher than in last year's quarter due to Congressional inaction on extending R&D tax credits that expired on December 31, 2013. If the extension is passed prior to the end of the year, our R&D tax credits for the full year will be reflected in the results for the fourth quarter." Mr. Battat concluded, "Continued strong cash generation during the quarter increased our cash and marketable securities by $3.4 million to $55.1 million."
Atrion Corporation develops and manufactures products primarily for medical applications. The Company's website is .
Statements in this press release that are forward looking are based upon current expectations and actual results or future events may differ materially. Such statements include, but are not limited to, Atrion's expectations regarding the use of R&D tax credits for 2014. Words such as "expects," "believes," "anticipates," "intends," "should", "plans," "will" and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements involve risks and uncertainties. The following are some of the factors that could cause actual results or future events to differ materially from those expressed in or underlying our forward-looking statements: changing economic, market and business conditions; acts of war or terrorism; the effects of governmental regulation; competition and new technologies; slower-than-anticipated introduction of new products or implementation of marketing strategies; the Company's ability to protect its intellectual property; changes in the prices of raw materials; changes in product mix; and intellectual property and product liability claims and product recalls. The foregoing list of factors is not exclusive, and other factors are set forth in the Company's filings with the Securities and Exchange Commission.
Contact:
Jeffery Strickland
Vice President and Chief Financial Officer
(972) 390-9800
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Datum: 31.10.2014 - 20:30 Uhr
Sprache: Deutsch
News-ID 348782
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Town:
ALLEN, TX
Kategorie:
Healthcare
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