Cantel Medical fiscal 2Q profit jumps 43 percent
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.