Atrion Reports Fourth Quarter and Full Year 2014 Results
(firmenpresse) - ALLEN, TX -- (Marketwired) -- 02/23/15 -- Atrion Corporation (NASDAQ: ATRI) announced today that for the fourth quarter of 2014 revenues were $32.7 million compared to $31.9 million in the same period of 2013, net income increased to $6.0 million from $5.8 million, and diluted earnings per share were up to $3.08 from $2.87. For the full year 2014, Atrion's revenues increased to $140.8 million from $132.0 million in 2013, net income was up to $27.8 million from $26.6 million, while diluted earnings per share increased to $14.08 from $13.18 in 2013.
Commenting on the Company's results, David A. Battat, President & CEO, said, "Diluted EPS for the fourth quarter was up 7% on sales growth of 3%. The benefit of the extension of R&D tax credits during this quarter was partially offset by higher taxes incurred in states where our products are sold. For the calendar year 2014, sales were up 7%, operating income increased 8% and diluted EPS increased 7%. This growth in profitability was achieved even with a $1.0 million increase in R&D spending during 2014 as well as a tax rate that was a full percentage point higher than in the previous year."
Mr. Battat added, "As we continue investing in our business we are also returning an increasing percentage of our free cash flow to our stockholders through higher dividends and stock repurchases. During the fourth quarter of the year we purchased 34,600 shares of our common stock at an average price of $332.10 per share for a total of $11.5 million. For the full year, we purchased a total of 74,746 common shares at an average price of $320.18 for a total of $23.9 million, while still ending 2014 with cash and short and long term investments of $45.6 million." Mr. Battat concluded, "As a significant portion of our products are exported, we are concerned about the increase in the value of the U.S. dollar. Nevertheless, and given planned, ongoing higher levels of spending on new product development, we anticipate continuing our long-term growth in sales and showing a high single-digit increase in operating income for 2015."
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 Company's spending for new product development and increases in sales and operating income for 2015. 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: 23.02.2015 - 21:47 Uhr
Sprache: Deutsch
News-ID 373526
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Town:
ALLEN, TX
Kategorie:
Healthcare
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