Cantel Medical slides in Q4 earnings miss

Cantel Medical (NYSE:CMN) shares came under pressure today after the medical device company missed expectations with its fiscal fourth-quarter and full-year earnings.

Little Falls, N.J.-based Cantel posted profits of $16.9 million, or 41¢ per share, on sales of $228.9 million for the three months ended July 31, for flat profit growth on an 11.4% top-line gain compared with fiscal Q1 2017.

Adjusted to exclude one-time items, earnings per share were 54¢, a full nickel below the consensus forecast on Wall Street, where analysts were looking for sales of $226.0 million.

Full-year profits came in at $91.0 million, or $2.18 per share, on sales of $871.9 million, for a bottom-line gain of 27.5% on sales growth of 13.2% compared with fiscal 2017. Adjusted EPS were $2.08, 44¢ below the consensus on The Street, where analysts were expecting sales of $869.0 million.

“We are pleased to report record sales and strong earnings performance this quarter. Our 11.4% reported sales increase was driven by organic growth of 7.5%, the impact from acquisitions of 3.4% and a favorable impact from foreign currency of 0.5%. We continue to perform well internationally where sales were up 30.2% overall, driven by Germany and China. Our U.S. business grew 5.7% in the period,” president & CEO Jørgen Hansen said in prepared remarks.

CMD shares were off -7.1% at $89.89 apiece today in mid-morning trading.

The post Cantel Medical slides in Q4 earnings miss appeared first on MassDevice.

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