This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Span-America Reports Results For Second Quarter Of Fiscal 2011

Stocks in this article: SPAN

Span-America Medical Systems, Inc. (NASDAQ:SPAN) today reported its results for the second fiscal quarter ended April 2, 2011. Net income for the second quarter of 2011 was $1.1 million, or $0.37 per diluted share, compared with $1.2 million, or $0.44 per diluted share, in the second quarter of fiscal 2010. Net sales for the second quarter of 2011 rose to $13.5 million compared with net sales of $13.1 million in the second quarter of fiscal 2010.

“Span-America’s sales increased in the second fiscal quarter to $13.5 million on the strength of a new customer for consumer bedding products,” stated Jim Ferguson, president and chief executive officer of Span-America Medical Systems. “The growth in consumer sales offset lower medical segment sales that were affected by soft demand for our therapeutic support surfaces. The change in sales mix from last year also reduced earnings compared with the second quarter of fiscal 2010 due to the shift toward lower-margin consumer product lines.

“We are encouraged about the second half of this fiscal year based on our improvement in sales and earnings from the first quarter to the second quarter, increased customer interest in our medical support surface product lines and new medical products recently introduced. We expect that higher demand for our medical products will be a key driver in improving our earnings in the second half of fiscal 2011,” continued Mr. Ferguson.

Second Quarter Results

Second quarter sales for fiscal 2011 rose 2% to $13.5 million compared with $13.1 million in the second quarter of last year. The 2% sales growth since last year was due to higher sales of consumer bedding products, which are part of the custom products segment.

Total medical sales decreased 6% to $8.9 million compared with $9.5 million in last year’s second quarter. The majority of the sales decline in the medical segment came from our lines of therapeutic support surfaces, particularly among our high-end, powered products, which have been the products most affected by the economic downturn. Total support surface sales, including powered and non-powered products, were down 11% in the second quarter to $5.3 million compared with $6.0 million in the second quarter of last year. Second quarter support surface sales included $211,000 in sales of our new Custom Care® product line that was launched in the first quarter of this fiscal year.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs