Del Medical Systems Group turned in fiscal first-quarter 2005 sales of $15.4 million, up 12.2% compared with the $13.7 million posted in the same period last year.
For the quarter (end-October 31), operating income at the group increased to $1.2 million from $33,000 in the first quarter last year, according to parent company Del Global Technologies. The firm did not break out net income figures for the medical systems group.
The group contributed more than 75% of net sales to its parent company in the first quarter. Sales growth for the Valhalla, NY-based Medical Systems Group was attributed to higher international sales, which offset slightly lower U.S. sales, as well as favorable exchange rates from its Villa Sistemi Medicali subsidiary, according to the company.
Del said that it has entered into nonbinding letters of intent to sell the Medical Systems Group, and would seek shareholder approval in the event that a definitive agreement is reached. Del executives said earlier this year that they were exploring the sale of pieces of the company to help it pay a $5 million settlement with the U.S. Department of Defense related to an investigation of the company's RFI power-conversion division.
By AuntMinnie.com staff writers
December 14, 2004
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Del Global gets SEC OK, June 2, 2004
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