Apr 29, 2004 |
ATRION REPORTS FIRST QUARTER RESULTS
Diluted EPS increases by 15% |
ALLEN, Texas (April 29, 2004) — Atrion Corporation (Nasdaq/NM - ATRI) today announced that for the first quarter of 2004 diluted earnings per share were up 15% compared to the results of the first quarter of 2003. Revenues in the first quarter were 7% higher than in the first quarter of last year.
Commenting on the Company's results, Emile A. Battat, Chairman, said: “Sales grew substantially in our cardiovascular, fluid delivery, and other product lines, offsetting a decline in the ophthalmic product area following the fulfillment of a customer’s requirements in late 2003. As a result, operating income was up a solid 10% in the first quarter, leading to a 15% increase in our diluted earnings per share compared with the same period last year. We are on track to meet our double-digit growth in earnings per share target for the full year 2004.”
Atrion’s revenues for the quarter ended March 31, 2004 were $16,789,000 compared with $15,721,000 in the same period in 2003. On a diluted per share basis, earnings for the period increased to $.70 as compared to $.61 in the same quarter of last year. Operating income for the current year period totaled $1,901,000, compared to $1,724,000 in last year’s first quarter.
Atrion Corporation designs, develops, manufactures, sells and distributes products and components primarily to medical markets worldwide.
The statements in this press release that are forward looking are based upon current expectations and actual results may differ materially. Such statements include, but are not limited to, Atrion’s expectations regarding earnings per share for the year 2004. Words such as “expects,” “believes,” “anticipates,” “intends,” and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements involve risks and uncertainties. The following are some of the factors that could cause actual results to differ materially from those expressed in or underlying our forward-looking statements: changing economic, market and business conditions; acts of war or terrorism; the effects of governmental regulation; competition and new technologies; slower-than-anticipated introduction of new products or implementation of marketing strategies; the Company’s ability to protect its intellectual property; changes in the prices of raw materials; changes in product mix; and product liability claims and product recalls. The foregoing list of factors is not exclusive, and other factors are set forth in the Company’s filings with the SEC.
Contact: Jeffery Strickland
Vice President and Chief Financial Officer
(972) 390-9800
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