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 Higher First Quarter Sales And Net Income

Span-America Medical Systems, Inc. (NASDAQ:SPAN) today reported higher sales and net income for the first quarter ended December 29, 2012. Net income for the first quarter of fiscal 2013 rose 21% to $1.4 million, or $0.46 per diluted share, compared with $1.1 million, or $0.39 per diluted share, in the first quarter of fiscal 2012. Net sales for the first quarter of fiscal 2013 increased 6% to $21.7 million compared with $20.5 million in the first quarter of fiscal 2012.

“Span-America reported record quarterly sales and a healthy increase in net income for the first fiscal quarter of 2013,” stated Jim Ferguson, president and chief executive officer of Span-America. “Our improved results came from higher medical sales, including the acquisition of M.C. Healthcare completed in December 2011, and improved operating margins from our custom products segment.

“We remain focused on integrating our sales and marketing for Span-America’s therapeutic support surfaces with M.C. Healthcare’s medical bed frames to expand our markets for medical product sales. As a result of the acquisition, we have increased our research and development budget to expand our medical product line for new beds and therapeutic support surfaces. We also plan to add new product offerings in fiscal 2013 by combining our therapeutic support surfaces and medical bed frames for both U.S. and Canadian markets. We believe these efforts will be key to expanding our sales in the future.

“Span-America’s cash flow and balance sheet remained strong in the first quarter of fiscal 2013. In recognition of our improved operating results, our Board of Directors declared and paid a quarterly cash dividend of $0.125 per share and a special cash dividend of $1.00 per share during the quarter. This marked our 92 nd consecutive quarterly dividend and the fourth special dividend paid to shareholders,” continued Mr. Ferguson.

First Quarter Results

Sales for the first quarter of fiscal 2013 increased 6% to $21.7 million compared with $20.5 million in the first quarter of fiscal 2012. The sales growth was due primarily to the contribution of M.C. Healthcare Products (MCHP) that was acquired in December 2011.

1 of 7

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 $92.97 -1.40%
FB $99.72 -1.30%
GOOG $672.02 -1.80%
TSLA $154.63 7.60%
YHOO $26.67 -1.60%


Chart of I:DJI
DOW 15,561.16 -353.58 -2.22%
S&P 500 1,821.01 -30.85 -1.67%
NASDAQ 4,232.3190 -51.2730 -1.20%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs