Contrast and virtual colonoscopy developer E-Z-EM reported strong growth in sales and net income for the third quarter (end-February 26), in part due to a voluntary recall of liquid barium products of one of its competitors.
For the quarter, the Lake Success, NY, company reported revenues of $30.8 million, up 24% compared with sales of $25 million in the same period of 2004. The company's third-quarter net income was $2.9 million, compared with net income of $1.2 million in the corresponding period of 2003.
E-Z-EM said it realized $3.3 million to $3.7 million in sales growth during the quarter due to a recall of liquid barium products by Mallinckrodt of Hazelwood, MO. Sales of E-Z-EM's CT products, which include oral contrast agents and contrast injectors, grew $4.3 million, or 51%, during the quarter.
By AuntMinnie.com staff writers
April 8, 2005
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