Cantel 4Q profit edges higher on endoscope revenue
Cantel Medical Corp., which makes products used to prevent infections, said Thursday that its profit edged higher in the fiscal fourth quarter on better results in its endoscope reprocessing business.
The company said its profit rose to $4.7 million in the three months ended July 31 from $4.6 million a year earlier. On a per-share basis, its income was unchanged at 27 cents. Revenue rose 23 percent, to $86 million from $69.8 million. Cantel said revenue from the endoscope reprocessing business climbed 53 percent because of sales of new products. The business disinfects devices used in endoscopy procedures, in which tiny cameras are used to look inside a patient's body to help diagnose an illness or perform an operation.
Its fiscal 2011 profit rose 2 percent, to $20.4 million from $19.9 million. It earned $1.18 per share in 2011 and in 2010. Cantel's revenue grew 17 percent, to $321.7 million from $274 million.
Shares of Cantel Medical fell $1.56, or 6.6 percent, to $22.06 in morning trading.