Contrast agent and virtual colonoscopy developer E-Z-EM reported robust fiscal 2006 second-quarter net sales of $34.2 million, up 30% compared with the $26.2 million booked in the second quarter of fiscal 2004 (end-November 27, 2004).
For the current period (end-December 3, 2005), the Lake Success, NY-based firm had net earnings of $1.5 million, a solid increase compared with net earnings of $800,000 in the same period last year.
The vendor said its sales increase for the quarter was attributable to the growth of CT and fluoroscopy products; the Empower family of injector systems; reactive skin decontamination lotion; and contract manufacturing products. It also estimated that some of the increase in net sales for the quarter resulted from the voluntary recall of some liquid barium products by the St. Louis-based Mallinckrodt division of Tyco Healthcare Group.
As a result of the strength of the first two quarters, the company is revising its guidance for fiscal 2006 upward. Sales are now expected to fall in a range of $135 million to $139 million. Net earnings are expected to be $6.8 million to $7.4 million.
By AuntMinnie.com staff writers
January 11, 2006
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