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Cantel Medical Corp, USA
COMPANY WATCH
Cantel Medical Corp, USA
Calgon Carbon Corp, USA Key Figures (US$ million) First quarter ended 31.3 2015 Net Sales Of Which: Activated Carbon and Service Equipment Consumer
Key Figures (US$ million) Three months ended 30.4 2015
2014
141.5
120.1
Cost of Sales
77.9
67.6
Gross Profit
63.6
52.4
Selling Expenses
20.3
16.5
18.5
16.4
3.5
2.6
Income from Operations
21.3
16.8
Net Income
12.4
10.2
Nine months ended 30.4 2015
2014
413.7
357.4
2014
135.7
131.6
122.7 10.7 2.2
117.7 10.5 3.4
Cost of Products Sold
87.2
87.5
General and Admin Expenses
Gross Profit
48.5
44.0
Research and Development
Selling, Administrative & Research Costs
22.5
21.6
Net Sales
Income/(Loss) from Operations Of Which: Activated Carbon and Service Equipment Consumer
26.0
22.5
25.9 (0.5) 0.5
22.7 (1.0) 0.8
Net Sales
Income/(Loss) from Operations
17.3
15.6
Cost of Sales
229.0
201.1
Gross Profit
184.7
156.3
Selling Expenses
59.0
48.4
General and Admin Expenses
56.8
47.1
Research and Development
10.3
7.4
Income from Operations
58.6
53.3
4.7
32.6
Profit before Taxes
16.6
15.0
Net Income/(Loss)
11.1
9.8
Net Income
COMMENT Calgon Carbon has reported net sales of US$135.7 million for the first quarter of fiscal 2015, an increase of 3.1% on the year earlier. Currency translation had a US$6.3 million negative impact on sales for the period due to the weaker euro, British pound, and yen. Sales in its core Activated Carbon and Service segment increased 4.3% to US$122.7 million, attributed primarily to higher demand for products and services in the US potable water market, as well as from the environmental air market in North America. These increases were partially offset by lower demand from the food, respirator and environmental water treatment markets. In the company’s other two segments, equipment revenues rose 2.3% year-on-year to 88
Filtration Industry Analyst
US$10.7 million on the back of good demand for ballast water treatment systems, while consumer sales were 34.7% lower at US$2.2 million. Calgon posted a net profit of US$11.1 million for the quarter, up 13.3% on the 2014 comparator. “Calgon Carbon’s solid performance for the first quarter reflects our ongoing commitment to sustained growth,” Randy Dearth, the company’s chair, president and CEO, said. “Higher sales, gross margin expansion, and increased operating income contributed to profitability improvement versus last year’s first quarter. “I am especially pleased with the growth in sales, considering the sizable negative impact of foreign currency on sales in the quarter.” ■ www.calgoncarbon.com
COMMENT Cantel Medical Corp reported net income of almost US$12.4 million on an 18% increase in sales to a record US$141.5 million for the third quarter ended 30 April 2015. This compares with net income of US$10.2 million and sales of US$120.1 million a year earlier. Andrew Krakauer, Cantel’s CEO, said they were pleased to have delivered excellent sales and net income growth this quarter. “We achieved strong growth in operating income in our two largest segments - Endoscopy and Water Purification and Filtration. All business units have greatly benefitted from further investments in new product development, sales and marketing programs,
and the integration of recent acquisitions. Overall, we had solid organic sales growth of approximately 10%, while our total sales growth of 18% demonstrates the success of our acquisition program.” The Mar Cor Water Purification and Filtration segment delivered third quarter organic sales growth of 13.5%, and reported a 17.5% increase overall, including sales from the recently acquired Pure Water Solutions business (see Filtration Industry Analyst, January 2015). Growth this quarter was driven by strength in capital equipment shipments, as well as solid performance in consumables and service. ■ www.cantelmedical.com
June 2015
Cantel Medical Corp, USA
Calgon Carbon Corp, USA Key Figures (US$ million) First quarter ended 31.3 2015 Net Sales Of Which: Activated Carbon and Service Equipment Consumer
Key Figures (US$ million) Three months ended 30.4 2015
2014
141.5
120.1
Cost of Sales
77.9
67.6
Gross Profit
63.6
52.4
Selling Expenses
20.3
16.5
18.5
16.4
3.5
2.6
Income from Operations
21.3
16.8
Net Income
12.4
10.2
Nine months ended 30.4 2015
2014
413.7
357.4
2014
135.7
131.6
122.7 10.7 2.2
117.7 10.5 3.4
Cost of Products Sold
87.2
87.5
General and Admin Expenses
Gross Profit
48.5
44.0
Research and Development
Selling, Administrative & Research Costs
22.5
21.6
Net Sales
Income/(Loss) from Operations Of Which: Activated Carbon and Service Equipment Consumer
26.0
22.5
25.9 (0.5) 0.5
22.7 (1.0) 0.8
Net Sales
Income/(Loss) from Operations
17.3
15.6
Cost of Sales
229.0
201.1
Gross Profit
184.7
156.3
Selling Expenses
59.0
48.4
General and Admin Expenses
56.8
47.1
Research and Development
10.3
7.4
Income from Operations
58.6
53.3
4.7
32.6
Profit before Taxes
16.6
15.0
Net Income/(Loss)
11.1
9.8
Net Income
COMMENT Calgon Carbon has reported net sales of US$135.7 million for the first quarter of fiscal 2015, an increase of 3.1% on the year earlier. Currency translation had a US$6.3 million negative impact on sales for the period due to the weaker euro, British pound, and yen. Sales in its core Activated Carbon and Service segment increased 4.3% to US$122.7 million, attributed primarily to higher demand for products and services in the US potable water market, as well as from the environmental air market in North America. These increases were partially offset by lower demand from the food, respirator and environmental water treatment markets. In the company’s other two segments, equipment revenues rose 2.3% year-on-year to 88
Filtration Industry Analyst
US$10.7 million on the back of good demand for ballast water treatment systems, while consumer sales were 34.7% lower at US$2.2 million. Calgon posted a net profit of US$11.1 million for the quarter, up 13.3% on the 2014 comparator. “Calgon Carbon’s solid performance for the first quarter reflects our ongoing commitment to sustained growth,” Randy Dearth, the company’s chair, president and CEO, said. “Higher sales, gross margin expansion, and increased operating income contributed to profitability improvement versus last year’s first quarter. “I am especially pleased with the growth in sales, considering the sizable negative impact of foreign currency on sales in the quarter.” ■ www.calgoncarbon.com
COMMENT Cantel Medical Corp reported net income of almost US$12.4 million on an 18% increase in sales to a record US$141.5 million for the third quarter ended 30 April 2015. This compares with net income of US$10.2 million and sales of US$120.1 million a year earlier. Andrew Krakauer, Cantel’s CEO, said they were pleased to have delivered excellent sales and net income growth this quarter. “We achieved strong growth in operating income in our two largest segments - Endoscopy and Water Purification and Filtration. All business units have greatly benefitted from further investments in new product development, sales and marketing programs,
and the integration of recent acquisitions. Overall, we had solid organic sales growth of approximately 10%, while our total sales growth of 18% demonstrates the success of our acquisition program.” The Mar Cor Water Purification and Filtration segment delivered third quarter organic sales growth of 13.5%, and reported a 17.5% increase overall, including sales from the recently acquired Pure Water Solutions business (see Filtration Industry Analyst, January 2015). Growth this quarter was driven by strength in capital equipment shipments, as well as solid performance in consumables and service. ■ www.cantelmedical.com
June 2015