Atrion Reports Third Quarter Results

11/8/17

ALLEN, Texas, Nov. 08, 2017 (GLOBE NEWSWIRE) -- Atrion Corporation (NASDAQ:ATRI) today announced that for the third quarter of 2017 revenues totaled $37.9 million compared with $37.8 million for the same period in 2016. Operating income for the just-ended quarter was $11.5 million compared to $11.0 million in the same period of 2016. Net income for the third quarter was $8.0 million as compared to $7.6 million in last year’s third quarter. On a diluted per share basis, earnings for the period increased to $4.29 as compared to $4.10 for the same quarter of last year.

Commenting on the results for the third quarter compared to the same period of 2016, David Battat, President and CEO, said, “We are very pleased with our Cardiovascular revenues, which were up 13% or $1.4 million. Our overall sales were essentially flat due to lower sales in other product areas, most notably in Ophthalmology which continued to show the impact of a previously disclosed interruption in orders from a customer which has withdrawn its product from the market pending resolution of a quality issue unrelated to the component we supply.” Mr. Battat continued, “Operational improvements contributed to an increase in gross profit margins to 49% compared to 47% in the same quarter in 2016. Operating income, net income and diluted earnings per share all increased by 5% compared to last year’s quarter.” Mr. Battat added, “During the quarter our cash and short and long term investments increased by $12.8 million to a total of $70.1 million as of September 30, 2017.”

Atrion Corporation develops and manufactures products primarily for medical applications. The Company’s website is www.atrioncorp.com.

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