Cantel Medical (CMD) Tops Q1 EPS by 7c, Revenues Beat

Cantel Medical (NYSE: CMD) reported Q1 EPS of $0.65, $0.07 better than the analyst estimate of $0.58. Revenue for the quarter came in at $257.2 million versus the consensus estimate of $253.59 million.

George Fotiades, President and Chief Executive Officer, stated, "We are pleased to report strong sales and earnings growth this quarter. In Dental, organic growth increased 12.0%, while reported sales grew 76.3%, driven by the acquisition of Hu-Friedy which closed late in the quarter. The integration of Hu-Friedy and Crosstex is rapidly underway and we see continued strong growth ahead. In Medical, sales increased 5.7% organically, with total reported sales growth of 4.5%, as a result of negative foreign currency headwinds. This lower than expected performance in Medical reflects delayed new products launches and increased competitive activity. We have initiated several new growth initiatives in this business, including the launch of a new cleaning valve, which is expected to launch in the second quarter. Life Sciences\' net sales decreased 1.1% on an organic basis, and decreased 5.2% in total primarily driven by the sale of our High Purity Water business in Canada."

Peter Clifford, EVP and Chief Operating Officer, stated, \"In addition, we continue to drive productivity improvements in both our Dental and Medical businesses. In Dental, we continue to execute on our plant consolidation project and in Medical we have initiated our plan to consolidate electromechanical manufacturing in Europe to our Italy headquarters site. I am looking forward to sharing more regarding these process improvements in the next few quarters."

For earnings history and earnings-related data on Cantel Medical (CMD) click here.

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