This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Theragenics Reports Revenue And Earnings For The Second Quarter And First Half Of 2012

Stocks in this article: TGX

Theragenics Corporation ® (NYSE: TGX), a medical device company serving the surgical products and prostate cancer treatment markets, today announced consolidated financial results for the second quarter ended June 30, 2012.

Highlights

  • Consolidated revenue
    • $22.0 million for the second quarter of 2012, up 2% over 2011
    • $43.5 million for the first half of 2012, up 4% over 2011
  • Segment revenue
    • Surgical products revenue up 3% in second quarter over 2011 and up 5% for the first half of 2012
    • Brachytherapy revenue up 1% in second quarter over 2011 and up 3% for the first half of 2012
  • Incremental revenue in Brachytherapy segment from acquired Core customers was $1.2 million in the second quarter of 2012 and $1.8 million for the first half of 2012
  • Earnings per share
    • $0.02 in the second quarter of 2012 compared to $0.04 in 2011
    • $0.05 for the first half of 2012 compared to $0.05 in 2011
  • Adjusted EBITDA
    • $3.7 million in the second quarter of 2012 compared to $4.0 million in 2011
    • $7.5 million for the first half of 2012 compared to $6.8 million in 2011
  • Pursuant to our modified Dutch Auction tender offer, we repurchased 4,761,904 common shares on July 17, 2012 for an aggregate purchase price of $10.0 million. Total cost including transaction costs was approximately $10.4 million.
  • Cash flow
    • At June 30, 2012, cash, cash equivalents and marketable securities were $38.7 million and credit facility borrowings were $22.0 million, resulting in a net positive position of $16.7 million.
      • Cash flow from operations was $4.9 million for the first half of 2012, compared to $3.4 million in 2011.
      • $4.8 million in cash was used in the first half of 2012 for the Core transaction, which closed in February 2012.
        • Another $4.6 million is expected to be paid through September 2013 for remaining payments on this earn-out based asset acquisition.
      • Capital expenditures were $982,000 in the first half of 2012.
      • $1.7 million of principal payments were made on the term loan in the first half of 2012. At June 30, 2012 the term loan was completely paid in full. Our $30 million line of credit facility matures on October 31, 2012.
    • On a pro forma basis, assuming our Dutch Auction share repurchase was completed on June 30, 2012, our net positive position was $6.3 million.

Segment Results

Surgical Products Segment

Revenue in our surgical products segment was $15.9 million in the second quarter of 2012, an increase of 3% over the second quarter of 2011 and our highest quarterly revenue ever in our surgical products segment. For the first half of 2012 revenue was $31.4 million, an increase of 5% over 2011. Operating income for the quarter was $588,000 compared to $498,000 in 2011. For the first half of 2012 operating income was $787,000 compared to $307,000 in 2011. Pre-tax charges for special items totaling $35,000 and $218,000 were included in the second quarter and first half, respectively, of 2011. The pre-tax charges for special items are detailed in Table V to this press release. No such special items were incurred in the 2012 periods.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • 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