Atrion Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011 ; Provides Earnings Guidance for the Year 2012 and 2013
February 21, 2012 at 04:21 pm EST
Share
Atrion Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported revenue of $25,519,000 against $26,630,000 in the same period of last year. Operating income was $7,631,000 against $7,755,000 in the same period of last year. Income before income taxes was $7,942,000 against $8,075,000 in the same period of last year. Net income was $5,388,000 against $5,423,000 in the same period of last year. Diluted earnings per share were $2.65 against $2.67 in the same period of last year.
For the year, the company reported revenue of $117,704,000 against $108,569,000 in the same period of last year. Operating income was $38,168,000 against $30,977,000 in the same period of last year. Income before income taxes was $39,475,000 against $31,988,000 in the same period of last year. Net income was $26,038,000 against $20,952,000 in the same period of last year. Diluted earnings per share were $12.82 against $10.32 in the same period of last year.
Looking forward to 2012, the company anticipate that despite the muddled economic outlook in international markets, where the company generate 42% of sales, fluid delivery and cardiovascular revenues will continue to show healthy increases. The company expect earnings for the full year 2012 could decline by approximately 10% from 2011 levels. The bulk of this decline will be felt in the first two quarters, which will likely show declines of some 20% before tapering off.
The company expect to return to double-digit growth pattern in 2013.
Atrion Corporation develops and manufactures products, primarily for medical applications. The Company's medical products are used in a number of fields including fluid delivery, cardiovascular, and ophthalmic applications. It has developed a variety of proprietary valves designed to precisely fill, hold, and release and/or remove controlled amounts of fluids, including blood and drugs, or gasses on demand for use in areas such as intubation, intravenous, catheter, and other applications in fields including anesthesia and oncology. The core of its cardiovascular products is its Myocardial Protection System, a technology that is the only open-heart surgery system that delivers to the heart essential fluids and medications, mixes critical drugs, and controls temperature, pressure, and other important variables. The Company also manufactures a line of balloon catheters used in the treatment of nasolacrimal duct obstruction in children and adults.
Atrion Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011 ; Provides Earnings Guidance for the Year 2012 and 2013