ALLEN, Texas (August 4, 2010) — Atrion Corporation (Nasdaq/NM - ATRI) today announced that for the second quarter of 2010 diluted earnings per share were up 16% and revenues were up 7% compared to the results for the second quarter of 2009.
Atrion's revenues for the quarter ended June 30, 2010 totaled $27,881,000 compared with $26,001,000 in the same period in 2009. On a diluted per share basis, earnings for the period increased to $2.67 as compared to $2.30 in the same quarter of last year. Net income for the second quarter totaled $5,431,000 compared to $4,657,000 in last year's second quarter.
Commenting on the Company's performance for the second quarter compared with the same period last year, Emile A. Battat, Chairman and CEO, said, "We are very pleased with the growth in revenues and earnings in the current-year period. Revenues were higher in all major product categories, except for ophthalmic products which showed a substantial decline compared to the record level achieved in last year's second quarter." Mr. Battat continued, "Sales to the Marine and Airline markets increased sharply in this year's second quarter as those sectors of the economy showed some recovery from the deep downturn suffered during the recession." Mr. Battat added, "Cash flow in this year's second quarter was exceptionally strong, with cash and investments reaching $37 million at the end of June 2010, an increase of $7.6 million during the quarter."
Revenues for the first six months of 2010 of $54,782,000 were 7% higher than revenues of $51,048,000 in the first half of 2009. Diluted earnings per share for the first half of 2010 increased 14% to $4.98 from $4.37 in the first six months of 2009.
Atrion Corporation develops and manufactures products primarily for medical applications. The Company's website is www.atrioncorp.com.
Contact: Jeffery Strickland
Vice President and Chief Financial Officer
(972) 390-9800
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