Atrion CorporationAtrion Corporation Investor Relations
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Nasdaq: ATRI
Sectors:
  • Health Services
  •     Medical Appliances & Equipment
        Medical Instruments & Supplies
    Investment Style:
  • Theme
  • Value
  • Alternative
  • Cash Flow
  • Growth
  • Highlights:
  • Atrion’s ability to generate strong cash flows is a key strength that enables the company to deliver consistent growth and profitability and to support ongoing R&D and capital improvements in technology, facilities and equipment. Over the past several years, these investments included a state-of-the-art manufacturing facility and new manufacturing machinery and equipment that enhance our ability to meet customer needs with even greater quality, flexibility and efficiency. Our consistent generation of cash flow also enables us to invest in value-creating initiatives such as stock repurchases and dividend payments.

  • Despite fluctuations in markets, product demand, and the economy, the company has continued to return value to stockholders through consistent, strong earnings growth. Over the past twenty years, Atrion attained annual compounded rates of growth of 6% in sales, 18% in operating income, and 20% in EPS—all of which we achieved organically rather than through acquisitions. During this same time period, the company’s stock price increased from $8.00 per share to over $800 per share.

  • Our return on equity has also steadily increased from five percent in 1999 to 16 percent in 2018. From 1999 to 2018, we repurchased over two million shares of our stock and consistently executed the timely repayment of debt associated with these buybacks. The Company has no outstanding debt as of December 31, 2018. At December 31, 2018 our cash and investments totaled $89.5 million.

  • Summary:
    Although Atrion is a relatively small company in the medical products arena, a number of our products hold leading market positions in their respective niches, creating a stable and diversified revenue base.

    Atrion’s presence in the healthcare and medical products industry is based on providing devices and components to niche markets that offer significant opportunity for product development, market penetration and revenues growth. We work to enhance our position in the markets we serve by:
    • Focusing on customer needs
    • Expanding existing product lines and developing new products
    • Maintaining a culture of controlling cost
    • Preserving and fostering a collaborative, entrepreneurial management structure

    As a result of this strategy, a number of our most successful products hold the leading market positions in their respective niches, demonstrating that small markets can produce attractive returns. For example, Atrion is a leading U.S. manufacturer of soft contact lens disinfection cases, clamps for IV sets, cardiac surgery vacuum relief valves, minimally invasive surgical tapes, check valves and balloon catheters for the treatment of tear duct blockages. Atrion is also the leading manufacturer of valves and inflation devices used in marine and aviation safety products.

    To respond to new market opportunities, we make research and development a continuing priority. Over the past 5 years, we have steadily increased R&D funding at a compounded annual rate of 5%. During this same period, we also invested $60 million in manufacturing and quality assurance equipment to further bolster our position for the long run.

    Supporting a successful and diversified product line is a commitment to financial flexibility and strength. Atrion maintains a steady and consistent focus on managing assets wisely, making products that meet specific market needs, and improving productivity and profitability. As a result, we have delivered consistent growth in earnings per share from continuing operations, while funding the needs of the business and investing in the resources, technology and assets to ensure operating efficiency and fuel future growth.

    Atrion has approximately 400,000 square feet of manufacturing, research and development capacity in three facilities in Alabama, Florida and Texas. We continually upgrade the manufacturing technology in our plants — automating processes where possible to maximize efficiency and quality control. The result is a seamless development and production system that can respond to new and increasing customer demand.

    Atrion is committed to creating continuing value for stockholders. In recent years, the company has completed several stock repurchase programs, aimed at enhancing stockholder value. Since 2003, when we initiated the payment of quarterly dividends on our common stock, we have increased the dividend fourteen times. In August 2018, we boosted the quarterly dividend from $1.20 per share to $1.35 per share.

    The development of new products to meet market needs is an ongoing strategy of the company’s, Atrion has developed a line of swabable valve products that minimizes the risk of needle-sticks for medical personnel, and the MPS2®, the second generation of our Myocardial Protection System. The MPS2 is a proprietary technology that delivers essential fluids and medications to the heart during open-heart surgery providing increased flexibility to the surgeon and enhanced safety to the patient.

    Our company’s goal is to continue to build its presence in the medical products industry by leveraging our leadership position in niche markets and by developing new products to meet increasing customer demand for effectiveness, safety and cost. Atrion is committed to building value for the company and its stockholders through continued growth in earnings per share.

    News:
    Nov 12, 2019
    Atrion Corporation Declares Quarterly Cash Dividend
    Nov 01, 2019
    Atrion Reports Third Quarter Results
    Aug 19, 2019
    Atrion Corporation Increases Quarterly Cash Dividend by 15%

    ATRION CORPORATION DECLARES QUARTERLY CASH DIVIDEND
    ATRION REPORTS THIRD QUARTER RESULTS
    FORM 10Q 3RD QTR 2019
    ATRION 2018 ANNUAL REPORT
    ATRION 2018 FORM 10K
    As of Jan 17, 2020 5:00 PM ET
    Nasdaq   ATRI   $707.54    -0.31  -0.04%
    Open: 709.39  Prev Close: 707.85
    Day High: 722.66  Day Low: 699.37
    Year High: 948.03    Year Low: 675.34
    Volume: 6,199
    Market Cap: $1,312,365,711
    Outstanding: 1,854,829
    Outstanding as of: Oct 11, 2019
    Quote delayed 15 minutes

     


    Investor Relations:
    Jeffery Strickland
    Chief Financial Officer
    ir-info@atrioncorp.com
    Phone:  (972) 390-9800
    Fax:  (972) 396-7581

    Address:
    Atrion Corporation
    One Allentown Parkway
    Allen, TX 75002-4211
    United States Of America
    Employees: 590

    Management:
    Emile A Battat
    Chairman
    David A. Battat
    President and CEO
    Jeffery Strickland
    Vice President and Chief Financial Officer

    Directors and Advisors:
    Emile A Battat
    Chairman
    Hugh J. Morgan, Jr.
    Director
    John P. Stupp, Jr.
    Director
    Ronald N. Spaulding
    Director
    Preston G. Athey
    Director