Pharmiweb ChannelsAll | PharmaCo | Clinical Research | R&D/BioTech | Sales/Mktg | Healthcare | Recruitment | Pharmacy | Medical Comms RSS Feed RSS Feeds


Press Release

Atrion Reports Second Quarter Results

Posted on: 08 Aug 17

ALLEN, Texas, Aug. 08, 2017 (GLOBE NEWSWIRE) -- Atrion Corporation (NASDAQ:ATRI) today announced that for the second quarter ended June 30, 2017 revenues totaled $36.2 million compared with $36.1 million in the same period in 2016. On a diluted per share basis, earnings for the period increased to $5.40 as compared to $4.02 in the same period of last year. Net income for the second quarter totaled $10.0 million in 2017 as compared to $7.5 million in the same period in 2016.

Commenting on the Company’s results for the second quarter of 2017 compared to the same period last year, David A. Battat, President & CEO, said, “Overall sales were essentially flat, impacted by a $700,000 interruption in orders from a customer that was rebalancing its inventory levels. This interruption masked solid performance in Fluid Delivery and our Other product areas." Mr. Battat added, "Operating income was up 1.0% while net income and diluted earnings per share increased by 35% and 34%, respectively, due to significant tax benefits from employee stock-based compensation that were recognized in the just ended quarter."

Mr. Battat added, “As of June 30, we continued to be debt-free, while holding cash, cash equivalents, and short and long term investments of $57.3 million.” Mr. Battat concluded, “During the quarter, we purchased a large tract of land adjacent to our manufacturing facility in Alabama that we plan to expand to meet anticipated sales growth. Construction is likely to begin in 2018. For the remainder of the year we expect our operating results to reflect uneven quarters, while our tax rates revert to the levels we have typically experienced.”

Atrion Corporation develops and manufactures products primarily for medical applications.  The Company’s website is

Statements in this press release that are forward looking are based upon current expectations and actual results or future events may differ materially.  Such statements include, but are not limited to, Atrion’s expectations regarding the expansion of one of the Company’s manufacturing facilities, operating results for the remainder of 2017 and future tax rates.  Words such as “expects,” “believes,” “anticipates,” “intends,” "should", "plans," "will" and variations of such words and similar expressions are intended to identify such forward-looking statements.  Forward-looking statements involve risks and uncertainties.  The following are some of the factors that could cause actual results or future events to differ materially from those expressed in or underlying our forward-looking statements: changing economic, market and business conditions; acts of war or terrorism; the effects of governmental regulation; competition and new technologies; slower-than-anticipated introduction of new products or implementation of marketing strategies; the Company’s ability to protect its intellectual property; changes in the prices of raw materials; changes in product mix; and intellectual property and product liability claims and product recalls.  The foregoing list of factors is not exclusive, and other factors are set forth in the Company’s filings with the Securities and Exchange Commission.

(In thousands, except per share data)
 Three Months Ended
June 30,
 Six Months Ended
June 30,
 2017 2016 2017 2016
Revenues$  36,164  $  36,143  $  74,669  $  72,358 
Cost of goods sold   18,470     18,928     38,344     37,578 
  Gross profit   17,694     17,215     36,325     34,780 
Operating expenses   7,519     7,141     14,823     14,241 
  Operating income   10,175     10,074     21,502     20,539 
Interest income   370     85        519        208 
Other income (expense), net   --     36        1       (309)
Income before income taxes   10,545     10,195     22,022     20,438 
Income tax provision     (519)      (2,745)    (2,046)    (6,042)
  Net income $  10,026  $    7,450  $ 19,976  $ 14,396 
Income per basic share$    5.44  $    4.09  $    10.86  $    7.90 
Weighted average basic shares outstanding   1,844     1,822     1,839     1,823 
Income per diluted share$    5.40  $    4.02  $    10.76  $    7.76 
Weighted average diluted shares outstanding     1,858       1,853     1,856     1,855 

(In thousands)
 June 30, Dec. 31,
ASSETS2016 2016
Current assets:   
Cash and cash equivalents$  20,223 $  20,022
Short-term investments   27,073    24,080
Total cash and short-term investments   47,296    44,102
Accounts receivable   19,690    17,166
Inventories   29,965    29,015
Prepaid expenses and other   6,022    3,181
Total current assets   102,973    93,464
Long-term investments   10,046    9,945
Property, plant and equipment, net   66,556    65,265
Other assets   13,096    13,268
 $  192,671 $  181,942
Current liabilities   9,383    9,073
Line of credit   --    --
Other non-current liabilities   10,965    9,881
Stockholders’ equity   172,323     162,988
 $  192,671 $  181,942


Last updated on: 09/08/2017

Site Map | Privacy & Security | Cookies | Terms and Conditions is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.