reported quarterly profits that were just shy of Wall Street's estimates, but sales exceeded expectations.
The Little Falls, N.J., company, which provides infection prevention and control products, reported net sales of $54.4 million for the quarter ended April 30, a 16% increase from $46.8 million a year earlier. Product sales increased about 12% year over year to $48.1 million.
Cantel said it earned $2.2 million, or 14 cents a share, compared to $4.6 million, or 28 cents a share, in the comparable year-ago quarter. Analysts polled by Thomson Financial had expected the company to earn 16 cents a share on revenue of $52.7 million.
"We're pleased with our top line growth, and we've made progress on a number of strategic fronts during the quarter, most notably in closing the acquisition of GE Water & Process Technologies' Dialysis Water Purification Business," said R. Scott Jones, president and chief executive of Cantel. "We are also investing in marketing and sales resources to further enhance our core growth."
The company didn't offer any guidance for the year.
Shares of Cantel were up 3% Monday to $17.42.