Cantel Medical Q4 Profit Climbs; Says Optimistic About FY14 - Quick Facts

(RTTNews) - Cantel Medical Corp. (CMN), a provider of healthcare products, reported Thursday that its fourth-quarter net income was $10.21 million or $0.25 per share, higher than last year's $9.65 million or $0.24 per share. The prior year's results included a $0.02 favorable tax benefit related to the closing of Japan subsidiary.

On average, two analysts polled by Thomson Reuters expected earnings of $0.23 per share. Such estimates typically exclude special items.

Sales for the quarter increased 15 percent to $113.97 million from $98.69 million a year earlier. Organic sales growth was 10 percent.

Cantel's President and CEO Andrew Krakauer stated, "We achieved good financial performance growth in our 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 for this quarter and for the full year."

Looking ahead, the company said that it is optimistic about its prospects to expand sales and increase profits in fiscal year 2014.