Newspaper article The Record (Bergen County, NJ)

Little Falls Medical Company Posts $14M Profit

Newspaper article The Record (Bergen County, NJ)

Little Falls Medical Company Posts $14M Profit

Article excerpt

LITTLE FALLS -- Medical equipment maker Cantel Medical Corp. on Wednesday reported fiscal third-quarter profit rose to $14 million, or 34 cents a share, from 12.4 million, or 30 cents, buoyed by growth in its endoscopy division. Shares of the company reached a 52- week high in intraday trading.

Earnings, adjusted for one-time gains and costs, were 44 cents a share, which topped analyst estimates by 8 cents.

Cantel revenue for the period ended April 30 climbed 23 percent to $173.7 million from $141.5 million in the quarter, exceeding analyst estimates by more than $10 million.

Shares of Cantel climbed $5.03, or 7.3 percent, to $73.77 Wednesday in Nasdaq Stock Market trading after touching a 52-week high of $74.05 in intraday trading. More than 713,000 shares changed hands, more than three times the three-month daily average. …

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