Cantel Medical Q2 Profit Increases - Quick Facts

(RTTNews) - Cantel medical corp. (CMN) reported that its net income for the second quarter ended January 31, 2014 was $11.13 million or $0.27 per share, up from $10.45 million or $0.25 per share in the second quarter ended January 31, 2013. Analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.

Results for the prior year's second quarter ended January 31, 2013 include $0.01 in net favorable adjustments related to acquisition accounting fair value adjustments partially offset by severance and recruiting costs.

Andrew Krakauer, Cantel's President and CEO said, "Financial performance was led this quarter by our Water Purification and Filtration unit where year-over-year sales increased 26%, of which 18% was organic. The record sales in this segment were led by increased shipments of central and portable water purification equipment."

Quarterly sales improved to $119.04 million from $106.36 million last year.

"Our strong revenue increases have allowed us to improve earnings, even as we are increasing investments in sales and marketing and new product development. Further, we are taking an aggressive approach in building our international sales, marketing, and operations teams to grow this part of our business in the medium-term. Overall, we expect to continue to accelerate these investments over the next several quarters, while remaining committed to an active global acquisition program," the company said.