Contrast and virtual colonoscopy firm E-Z-EM reported record net sales of $113.1 million in its fiscal 2005, up 12% compared with the $100.6 million turned in during fiscal 2004. For the year (end-May 28), the Lake Success, NY-based firm had net earnings of $6.9 million, compared with net earnings of $6.7 million a year ago.
In other fiscal 2005 highlights, earnings from continuing operations reached $5.7 million, up from $3.6 million in fiscal 2004. CT product sales also surpassed fluoroscopy sales in both the fourth quarter and year, E-Z-EM said.
Net fourth-quarter sales were $32 million, up 15% compared with net sales of $27.7 million. E-Z-EM reported fourth-quarter net earnings of $1.3 million, compared with net earnings of $4 million a year ago. The company attributed approximately $2.3 million to $2.6 million of the fourth-quarter net sales gains to Mallinckrodt's recall of its liquid barium product line.
Looking ahead, E-Z-EM said it expects fiscal 2006 net sales to range from $122 million to $125 million, with net earnings slated to be $4.5 million to $5.2 million (compared with pro-forma fiscal 2005 earnings from continuing operations of $4.3 million).
By AuntMinnie.com staff writers
August 2, 2005
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