Cantel Medical Corp. (CMN) a provider of healthcare products, Thursday reported a rise in the second-quarter profit on the back of increased sales for the period.
For the period, the firm posted net income of $10.45 million, up from $7.29 million last year. On a per share basis, earnings totaled $0.38 versus $0.27 last year.
The company said results for the second quarter include $0.02 in net favorable adjustments related to acquisition accounting partially offset by severance and recruiting costs.
One analyst polled by Thomson Reuters estimated earnings per share of $0.35 for the quarter. Analysts estimates typically exclude one-time items.
Revenue for the period rose 9 percent to $106.36 million from $97.29 million last year. The company said the performance in the quarter was led by its Healthcare Disposables segment and added, with the benefit of the ongoing integration of the SPS Medical sterility assurance business acquired on November 1 last year, sales in this segment exceeded the same quarter last year by 36 percent.
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