Strong fourth quarter closes record year in line with management expectations
- Net sales of $228.9M, up 11.4%, with organic sales growth of 7.5%
- Full year sales of $871.9M, up 13.2% with organic sales growth of 8.4%
- GAAP diluted EPS of $0.41, down 0.4%
- Non-GAAP diluted EPS of $0.62, up 14.5%
- Full year GAAP diluted EPS of $2.18 up 27.6%
- Full year Non-GAAP diluted EPS of $2.51, up 20.6%
- GAAP net income of $16.9M, down 0.6%
- Non-GAAP net income of $25.7M, up 14.1%
Jørgen B. Hansen, President and Chief Executive Officer, stated, "We are pleased to report record sales and strong earnings performance this quarter. Our 11.4% reported sales increase was driven by organic growth of 7.5%, the impact from acquisitions of 3.4% and a favorable impact from foreign currency of 0.5%. We continue to perform well internationally where sales were up 30.2% overall, driven by Germany and China. Our U.S. business grew 5.7% in the period.
For the full fiscal year, we reported record sales and earnings performance. Reported sales increased 13.2%, driven by organic growth of 8.4%, the impact from acquisitions of 4.0% and a favorable impact from foreign currency of 0.8%. Internationally the business grew at 33.8% driven by Germany, China and Canada. Our U.S. business grew at 7.4% for the year.
Overall, the strong performance in the fourth quarter capped off a record year for Cantel that was in line with our growth objectives."
Cantel Medical Reports Financial Results for its Fourth Quarter Fiscal Year 2018
