Contrast agent and virtual colonoscopy developer E-Z-EM reported strong fiscal 2006 third-quarter net sales of $32.3 million, a positive uptick compared with the $30.8 million booked in the third quarter of fiscal 2004 (end-May 28, 2005).
For the current period (end-March 4), the Lake Success, NY-based firm had net earnings of $4.3 million, a solid gain compared with net earnings of $2.9 million in the same period last year.
The vendor said growth in its Empower injector systems and increased contract manufacturing contributed to the sales growth, but was offset by lower sales of CT oral contrast and fluoroscopy products -- due to the consolidation of the two largest U.S. distributors of radiology supplies during the third quarter of fiscal 2006, the company said.
E-Z-EM is revising its net earnings guidance for fiscal 2006 upwards as a result of tax benefits gained in the third quarter of fiscal 2006. Sales continue to be expected to fall in the range of $135 million to $139 million, and net earnings are now expected to be $9.7 million to $10.3 million, compared with prior guidance of $6.8 million to $7.4 million.
By AuntMinnie.com staff writers
April 12, 2006
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