Cantel Medical fiscal 3Q profit edges higher
Cantel Medical Corp., which makes products used to prevent infections, said Tuesday its fiscal third-quarter net income rose 2.2 percent as sales grew in the company's largest divisions.
Cantel said its profit grew to $4.3 million from $4.2 million. On a per-share basis, net income was unchanged at 25 cents per share as shares outstanding increased. Revenue edged up to $66.6 million from $66.4 million.
According to Thomson Reuters, analysts expected a profit of 27 cents per share, on average. The company's third quarter ended April 30.
Cantel said sales of dialysis products fell, but revenue from its other businesses - endoscope reprocessing, water purification, and disposables - rose by a combined 7 percent. It said sales grew more quickly than the overall markets in each of those businesses.
The company said the global economic slump is still hurting sales of capital equipment.
Cantel stock rose 86 cents, or 5.4 percent, to $16.79 in morning trading.