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

Span-America Reports Growth In Sales And Net Income For Fourth Quarter And Fiscal Year 2012

Stocks in this article: SPAN

Span-America Medical Systems, Inc. (NASDAQ:SPAN) today reported growth in sales and net income for the fourth quarter and fiscal year ended September 29, 2012. The company reported that fourth quarter sales rose 30% to $17.8 million, and net income increased 67% to $1.5 million, or $0.51 per diluted share, compared with the fourth quarter of the prior fiscal year. For the full year of fiscal 2012, sales rose 45% to $76.1 million, and net income increased 41% to $5.2 million, or $1.77 per diluted share, compared with fiscal 2011. The 2012 results include the contribution from M.C. Healthcare that was acquired in December 2011.

“Span-America’s improved results for fiscal 2012 benefited from solid growth from our medical and custom products segments and the contribution of M.C. Healthcare that we acquired in the first quarter of this fiscal year,” stated Jim Ferguson, president and CEO of Span-America Medical Systems. “We are very pleased with our operating results across all segments of our business and expect continued growth in fiscal 2013 based on our current outlook.

“We remain very positive about our medical segment based on our plans to continue integrating Span-America’s therapeutic support surfaces with M.C. Healthcare’s medical bed frames. We have increased our research and development efforts to expand our product lines in the medical segment and enhance our existing products. We also plan to add new product offerings by combining our therapeutic support surfaces and medical bed frames. We believe these new products will increase our market opportunities with new customers and enhance our cross-selling efforts with existing customers,” continued Mr. Ferguson.

Fourth Quarter Results

Sales for the fourth quarter of fiscal 2012 increased 30% to $17.8 million compared with $13.7 million in the same quarter last year. The $4.1 million increase in sales included $2.2 million in sales growth from Span-America’s existing medical and custom products segments and $1.9 million in sales from the M.C. Healthcare acquisition. Medical segment sales rose 30% to $11.7 million in the fourth quarter of fiscal 2012 compared with $9.0 million in the fourth quarter last year. Sales in the custom products segment increased 29% to $6.1 million compared with $4.7 million in the fourth quarter of fiscal 2011.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

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