Contrast agent developer E-Z-EM reported record sales of $133.2 million in fiscal 2003, up 9% compared with the $122.1 million booked in fiscal 2002. For the fiscal year (end-May 31), the Lake Success, NY-based firm had net earnings of $2.7 million, compared with net earnings of $585,000 last year.
In the fourth quarter, E-Z-EM's net sales were $36.9 million, up 11% compared with $33.2 million last year. The vendor had net earnings of $2.2 million for the period, compared with net earnings of $707,000 in the fourth quarter of 2002.
E-Z-EM attributed the gains to continued growth in its AngioDynamics subsidiary and to strong sales of its CT diagnostic products. At AngioDynamics, sales grew 34% in the fourth quarter and 24% in fiscal 2003, while E-Z-EM’s core segment turned in 3% quarterly sales growth and 4% for the year. The company said that its balance sheet and financial position remain strong.
By AuntMinnie.com staff writersAugust 13, 2003
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E-Z-EM and JPC ink multiyear deal, April 10, 2003
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