FILE - In this file photo made Jan. 26, 2010, the 3M Co. logo is seen on some of their products in Philadelphia. 3M Co. annouced Tuesday, Oct. 23, 2012, that it is reducing its profit expectations for this year because of what it calls "current economic realities." 3M makes everything from Post-it notes and Scotch tape to roofing granules, coatings for LCD screens, and traffic sign coatings. The variety of its businesses and its worldwide footprint make it an economic bellwether. And CEO Inge Thulin said what it's seeing right now is a "slow-growth economy." (AP Photo/Matt Rourke, file)
Cantel Medical fiscal 2Q profit jumps 43 percent
Published: 05:30:54 PM, Thu 07 March 2013 UTC
LITTLE FALLS, N.J. (AP) — Cantel Medical Corp. said Thursday its fiscal second-quarter net income jumped 43 percent, helped by contributions from a recent acquisition.
For the quarter ended Jan. 31, the Little Falls, N.J.-based company earned $10.5 million, or 38 cents per share, up from $7.3 million, or 27 cents per share, in the same quarter last year.
The recent quarter's results included a net gain of 2 cents per share related to acquisition accounting that was partially offset by unspecified severance and recruiting costs.
Revenue rose 9 percent to $106.4 million from $97.3 million.
Sales at Cantel's health care disposables segment jumped 36 percent, boosted by the company's November acquisition of the SPS Medical sterility assurance business. Excluding acquisitions, the business' sales increased 11 percent, as some customers pulled forward sales ahead of Jan. 1 price increases.
Cantel Medical shares fell 35 cents to $31.62 in midday trading.
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