This Day On The Street
Continue to site
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

Span-America Reports Growth In Sales For Third Quarter Of Fiscal 2012

Span-America Medical Systems, Inc. (NASDAQ:SPAN) today reported growth in sales for the third fiscal quarter and nine months ended June 30, 2012. Net sales for the third quarter of fiscal 2012 increased 24% to $16.9 million compared with net sales of $13.7 million in the third quarter of fiscal 2011. Net sales for the first nine months of fiscal 2012 rose 50% to $58.4 million compared with $38.9 million in the same period of fiscal 2011.

Net income for the third quarter of fiscal 2012 decreased 27% to $743,000, or $0.25 per diluted share, compared with $1.0 million, or $0.36 per diluted share, in the third quarter of fiscal 2011. Net income for the first nine months of fiscal 2012 increased 32% to $3.7 million, or $1.26 per diluted share, compared with $2.8 million, or $0.98 per diluted share, for the first nine months of fiscal 2011.

“Span-America sales benefited from the addition of M.C. Healthcare that was acquired in December 2011 and continued sales growth from our medical, consumer and industrial products,” stated Jim Ferguson, president and chief executive officer of Span-America Medical Systems. “Our third quarter earnings were affected by significant increases in foam raw material prices, which we were not able to fully pass along to customers during the quarter.

“We expect our fourth quarter margins to improve over third quarter levels due to recent price reductions on certain foam raw materials, sales price increases and production changes we made to improve foam yields for selected products. Longer term, we believe we can pass on the higher raw material costs as additional customer contracts renew.

“We remain very positive about our medical business based on the continued integration of the Span-America and M.C. Healthcare product lines. We believe we have excellent opportunities to gain market share as we cross-sell our therapeutic support surface and bed frame products and introduce new products that are currently in the development phase. Our outlook for the custom products segment is also positive based on current order levels scheduled into next fiscal year,” continued Mr. Ferguson.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs