Cantel Medical (CMD) Tops Q1 EPS by 53c, Revenues Beat

Cantel Medical (NYSE: CMD) reported Q1 EPS of $0.90, $0.53 better than the analyst estimate of $0.37. Revenue for the quarter came in at $297 million versus the consensus estimate of $279.83 million.

• Strong execution in Medical and Dental drives record financial results
• Demand for infection prevention products continues to accelerate
• Strong recurring revenue mix and cost discipline driving increased profitability
• Hu-Friedy synergies well ahead of schedule
• Net sales of $297.0M, up 15.5%
• GAAP diluted EPS of $0.57, up 307.1%
• Non-GAAP diluted EPS of $0.90, up 38.5%
• GAAP net income of $24.5M, up 324.2%
• Non-GAAP net income of $38.5M, up 41.3%

George Fotiades, Chief Executive Officer, stated, "We are very encouraged by the strong uptake in our infection prevention consumable products as infection prevention protocols put in place over the past six months become standard practice. The recovery of procedures, along with an increase in Cantel's share of revenue per procedure, produced enhanced margins that exceeded our expectations. The record profit performance was also the result of our embedded operating discipline across all of our businesses, including exceeding the realization of synergies associated with the Hu-Friedy acquisition."

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

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