Cantel Medical Q1 Profit Climbs, Tops View - Quick Facts

(RTTNews) - Cantel Medical Corp. (CMN), a provider of healthcare products, Thursday reported an increase in its first-quarter profit, that surpassed the Street estimates, with a 19 percent increase in sales, reflecting recent acquisitions.

Net income for the three-month period was $11.1 million or $0.27 per share, compared with $9.5 million or $0.23 per share last year.

On average, two analysts polled by Thomson Reuters expected the company to report earnings per share of $0.24 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales grew to $118.2 million, from $99.6 million a year ago. Analysts expected the company to generate revenues of $112.85 million for the quarter.

Commenting on the results, Cantel's President and CEO said: "We achieved good financial performance in all three major business segments - Endoscopy, Water Purification and Filtration, and Healthcare Disposables. All three business units have greatly benefited from further investments in new product development, sales and marketing programs, and the integration of recent acquisitions. Most importantly, for the second consecutive quarter we had strong organic sales growth of 10%."