ATRI ATRION Corporation

Commission File Number 001-32982

 

Atrion Corporation
(Exact Name of Registrant as Specified in its Charter)
Delaware		63-0821819
(State or Other Jurisdiction of Incorporation or Organization)		(I.R.S. Employer Identification No.)
One Allentown Parkway, Allen, Texas 75002
(Address of Principal Executive Offices)                                                                 (Zip Code)
(972) 390-9800
(Registrant’s Telephone Number, Including Area Code)

 

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Registration S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “accelerated filer,” “large accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act (Check one):

 

Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐ (Do not check if a smaller reporting company)	Smaller reporting company	☐
		Emerging growth company	☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes ☐ No ☒

 

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.

 

Title of Each Class		Number of Shares Outstanding at July 25, 2018
Common stock, Par Value $0.10 per share		1,852,756

 

 

 

 

ATRION CORPORATION AND SUBSIDIARIES

 

TABLE OF CONTENTS

 

 

PART I.                       Financial Information	2
Item 1.               Financial Statements
Consolidated Statements of Income (Unaudited) For the Three and Six Months Ended June 30, 2018 and 2017	3
Consolidated Statements of Comprehensive Income (Unaudited) For the Three and Six Months Ended June 30, 2018 and 2017	4
Consolidated Balance Sheets (Unaudited) June 30, 2018 and December 31, 2017	5
Consolidated Statements of Cash Flows (Unaudited) For the Six Months Ended June 30, 2018 and 2017	6
Consolidated Statement of Changes in Stockholders’ Equity (Unaudited) June 30, 2018 and December 31, 2017	7
Notes to Consolidated Financial Statements (Unaudited)	8
Item 2.                Management's Discussion and Analysis of Financial Condition and Results of Operations	15
Item 3 .                Quantitative and Qualitative Disclosures About Market Risk	20
Item 4.                Controls and Procedures	21
PART II.  Other Information	21
Item 1.                Legal Proceedings	21
Item 1A.             Risk Factors	21
Item 6.                Exhibits	21
SIGNATURES	22
Exhibit Index	23

 

 

 

 

PART I

 

 

FINANCIAL INFORMATION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2

Item 1. Financial Statements

 

ATRION CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

 (Unaudited)

 

	Three Months Ended June 30,		Six Months Ended June 30,
	2018	2017	2018	2017
	(in thousands, except per share amounts)
Revenues	$ 38,847	$ 36,164	$ 78,248	$ 74,669
Cost of goods sold	19,624	18,470	40,074	38,344
Gross profit	19,223	17,694	38,174	36,325
Operating expenses:
Selling	2,045	1,864	4,064	3,612
General and administrative	4,309	4,287	8,537	8,304
Research and development	1,603	1,368	2,941	2,907
	7,957	7,519	15,542	14,823
Operating income	11,266	10,175	22,632	21,502
Interest and dividend income	411	370	742	519
Other investment income (losses)	(408 )	--	(1,197 )	1
	3	370	(455 )	520
Income before provision for income taxes	11,269	10,545	22,177	22,022
Provision for income taxes	(2,472 )	(519 )	(4,892 )	(2,046 )
Net income	$ 8,797	$ 10,026	$ 17,285	$ 19,976
Net income per basic share	$ 4.75	$ 5.44	$ 9.33	$ 10.86
Weighted average basic shares outstanding	1,852	1,844	1,853	1,839
Net income per diluted share	$ 4.74	$ 5.40	$ 9.31	$ 10.76
Weighted average diluted shares outstanding	1,857	1,858	1,856	1,856
Dividends per common share	$ 1.20	$ 1.05	$ 2.40	$ 2.10

 

The accompanying notes are an integral part of these statements.

 

 

3

ATRION CORPORATION

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

 

	Three Months Ended June 30,		Six Months Ended June 30,
	2018	2017	2018	2017
	(In thousands)
Net Income	$ 8,797	$ 10,026	$ 17,285	$ 19,976
Other Comprehensive Income
Unrealized income on investments, net of tax expense of $204 and $36 in 2017	--	379	--	66
Comprehensive Income	$ 8,797	$ 10,405	$ 17,285	$ 20,042

	Common Stock		Treasury Stock			Accumulated
					Additional	Other
	Shares				Paid-in	Comprehensive	Retained
	Outstanding	Amount	Shares	Amount	Capital	Income (Loss)	Earnings	Total
Balances, January 1, 2017	1,852	$ 342	1,568	$ (131,663 )	$ 48,730	$ (1,215 )	$ 268,194	$ 184,388
Net income							17,285	17,285
Reclass from adopting ASU 2016-01						1,215	(1,215 )	--
Stock-based compensation transactions	1		(1 )	26	905			931
Shares surrendered in stock transactions				(90 )				(90 )
Dividends							(4,457 )	(4,457 )
Balances, June 30, 2018	1,853	$ 342	1,567	$ (131,727 )	$ 49,635	$ 0	$ 279,807	$ 198,057

	Three Months Ended June 30,		Six Months Ended June 30,
	2018	2017	2018	2017
	(in thousands, except per share amounts)
Net income	$ 8,797	$ 10,026	$ 17,285	$ 19,976
Weighted average basic shares outstanding	1,852	1,844	1,853	1,839
Add: Effect of dilutive securities	5	14	3	17
Weighted average diluted shares outstanding	1,857	1,858	1,856	1,856
Earnings per share:
Basic	$ 4.75	$ 5.44	$ 9.33	$ 10.86
Diluted	$ 4.74	$ 5.40	$ 9.31	$ 10.76

	Gross Unrealized
	Level	Cost	Gains	Losses	Fair Value
As of June 30, 2018:
Short-term Investments
Certificates of deposit	2	2,021	$ --	$ (4 )	$ 2,017
Commercial paper	2	10,977	$ --	$ (9 )	$ 10,968
Bonds	2	11,178	$ --	$ (29 )	$ 11,149
Long-term Investments
Bonds	2	18,781	$ --	$ (259 )	$ 18,522
Mutual funds	1	485	$ --	$ (4 )	$ 481
Equity investments	2	5,675	$ --	$ (2,729 )	$ 2,946
As of December 31, 2017:
Short-term Investments
Certificates of deposit	2	4,020	$ --	$ (3 )	$ 4,017
Commercial paper	2	31,220	$ 26	$ (38 )	$ 31,208
Bonds	2	6	$ --	$ --	$ 6
Mutual funds	1	219	$ 3	$ --	$ 222
Long-term Investments
Bonds	2	5,000	$ --	$ (75 )	$ 4,925
Equity investments	2	5,675	$ --	$ (1,539 )	$ 4,136

2019	$ 119
2020	$ 119
2021	$ 119
2022	$ 117
2023	$ 113

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2018	2017	2018	2017
United States	$ 24,833	$ 24,079	$ 49,440	$ 47,184
Germany	2,291	1,919	4,962	4,956
Other countries less than 5% of revenues	11,723	10,166	23,846	22,529
Total	$ 38,847	$ 36,164	$ 78,248	$ 74,669

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2018	2017	2018	2017
Fluid Delivery	$ 18,128	$ 15,630	$ 36,928	$ 33,636
Cardiovascular	13,003	12,222	26,213	23,686
Ophthalmology	2,852	3,762	5,637	7,435
Other	4,864	4,550	9,470	9,912
Total	$ 38,847	$ 36,164	$ 78,248	$ 74,669

Item 2.   Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

Overview

We develop and manufacture products primarily for medical applications. We market components to other equipment manufacturers for incorporation in their products and sell finished devices to physicians, hospitals, clinics and other treatment centers. Our medical products primarily serve the fluid delivery, cardiovascular, and ophthalmology markets. Our other medical and non-medical products include instrumentation and disposables used in dialysis and valves and inflation devices used in marine and aviation safety products.

 

Our products are used in a wide variety of applications by numerous customers. We encounter competition in all of our markets and compete primarily on the basis of product quality, price, engineering, customer service and delivery time.

 

Our strategy is to provide a broad selection of products in the areas of our expertise. We focus our research and development, or R&D, efforts on improving current products and developing highly-engineered products that meet customer needs and serve niche markets with meaningful sales potential. Proposed new products may be subject to regulatory clearance or approval prior to commercialization and the time period for introducing a new product to the marketplace can be unpredictable. We also focus on controlling costs by investing in modern manufacturing technologies and controlling purchasing processes. We have been successful in consistently generating cash from operations and have used that cash to reduce and payoff indebtedness, to fund capital expenditures, to repurchase stock and to pay dividends.

 

Our strategic objective is to further enhance our position in our served markets by:

 

●

Focusing on customer needs;

●

Expanding existing product lines and developing new products;

●

Manufacturing products to exacting quality standards; and

●

Preserving and fostering a collaborative and entrepreneurial culture.

 

For the three months ended June 30, 2018, we reported revenues of $38.8 million, operating income of $11.3 million and net income of $8.8 million, up 7 percent, up 11 percent and down 12 percent, respectively, from the three months ended June 30, 2017. For the six months ended June 30, 2018, we reported revenues of $78.2 million, operating income of $22.6 million and net income of $17.3 million, up 5 percent, up 5 percent and down 14 percent, respectively, from the six months ended June 30, 2017. The decline in net income for both the three and six month periods ended June 30, 2018 were attributable to higher effective tax rates in the current year periods.

 

Results for the three months ended June 30, 2018

Consolidated net income totaled $8.8 million, or $4.75 per basic and $4.74 per diluted share, in the second quarter of 2018. This is compared with consolidated net income of $10.0 million, or $5.44 per basic and $5.40 per diluted share, in the second quarter of 2017. The income per basic share computations are based on weighted average basic shares outstanding of 1,852,000 in the 2018 period and 1,844,000 in the 2017 period. The income per diluted share computations are based on weighted average diluted shares outstanding of 1,857,000 in the 2018 period and 1,858,000 in the 2017 period.

 

 

15

 

 

Consolidated revenues of $38.8 million for the second quarter of 2018 were 7 percent higher than revenues of $36.2 million for the second quarter of 2017. This increase was primarily attributable to increased volumes of our fluid delivery products.

 

Revenues by product line were as follows (in thousands):

 

	Three Months ended June 30,
	2018	2017
Fluid Delivery	$ 18,128	$ 15,630
Cardiovascular	13,003	12,222
Ophthalmology	2,852	3,762
Other	4,864	4,550
Total	$ 38,847	$ 36,164

 

Cost of goods sold of $19.6 million for the second quarter of 2018 was 6 percent higher than cost of goods sold of $18.5 million for the second quarter of 2017 primarily due to increased revenues partially offset by improved manufacturing efficiencies and the impact of continued cost improvement projects. Our cost of goods sold in the second quarter of 2018 was 50.5 percent of revenues compared with 51.1 percent of revenues in the second quarter of 2017.

 

Gross profit of $19.2 million in the second quarter of 2018 was $1.5 million, or 9 percent, higher than in the comparable 2017 period. Our gross profit percentage in the second quarter of 2018 was 49.5 percent of revenues compared with 48.9 percent of revenues in the second quarter of 2017. The increase in gross profit percentage in the 2018 period compared to the 2017 period was primarily related to improved manufacturing efficiencies and cost improvement projects mentioned above.

 

Our second quarter 2018 operating expenses of $8.0 million were $438,000 higher than the operating expenses for the second quarter of 2017. This increase was attributable to a $22,000 increase in General and Administrative, or G&A, expenses, a $181,000 increase in Selling expenses and a $235,000 increase in R&D expenses. The increase in G&A expenses for the second quarter of 2018 was principally attributable to increased outside services, increased travel and increased software costs partially offset by lower compensation and benefit costs. The increase in Selling expenses was principally attributable to increased outside services, trade shows and compensation. The increase in R&D expenses was primarily related to increased outside services and increased compensation partially offset by decreased supply costs.

 

Operating income in the second quarter of 2018 increased $1.1 million to $11.3 million, an 11 percent increase compared to our operating income in the quarter ended June 30, 2017. Operating income was 29 percent of revenues for the second quarter of 2018 as compared to 28 percent of revenues for the second quarter of 2017.

 

Interest and dividend income in the second quarter of 2018 was $411,000, compared with $370,000 for the same period in the prior year. Increased levels of investment and increased interest rates were the primary reasons for the increase.

 

 

16

 

 

Other investment loss in the second quarter of 2018 was $408,000. We adopted ASU 2016-01 as of January 1, 2018 (see Note 7). For the second quarter of 2018 we recorded an unrealized loss on an equity investment of $412,000 as a result of a decline in the market value of this investment during the quarter.

 

Income tax expense for the second quarter of 2018 was $2.5 million compared to income tax expense of $519,000 for the same period in the prior year. The effective tax rate for the second quarter of 2018 was 21.9 percent, compared with 4.9 percent for the second quarter of 2017. The Tax Cuts and Jobs Act, reduced the corporate federal income tax rate in the United States from 35 percent to 21 percent effective for us on January 1, 2018. Our effective tax rate for the second quarter of 2017 was favorably impacted by excess tax benefits of $3.0 million related to stock compensation together with the benefit from the Section 199 deductions. We expect the effective tax rate for the remainder of 2018 to be approximately 21.0 percent.

 

Results for the six months ended June 30, 2017

 

Consolidated net income totaled $17.3 million, or $9.33 per basic and $9.31 per diluted share, in the first six months of 2018. This is compared with consolidated net income of $20.0 million, or $10.86 per basic and $10.76 per diluted share, in the first six months of 2017. The income per basic share computations are based on weighted average basic shares outstanding of 1,853,000 in the 2018 period and 1,839,000 in the 2017 period. The income per diluted share computations are based on weighted average diluted shares outstanding of 1,856,000 in both the 2018 and 2017 periods.

 

Consolidated revenues of $78.2 million for the first six months of 2018 were 5 percent higher than revenues of $74.7 million for the first six months of 2017. This increase was primarily attributable to increased volumes of our fluid delivery and cardiovascular products.

 

Revenues by product line were as follows (in thousands):

 

	Six Months ended June 30,
	2018	2017
Fluid Delivery	$ 36,928	$ 33,636
Cardiovascular	26,213	23,686
Ophthalmology	5,637	7,435
Other	9,470	9,912
Total	$ 78,248	$ 74,669

 

Cost of goods sold of $40.1 million for the first six months of 2018 was $1.7 million higher than in the comparable 2017 period. The primary contributor to the increase in our cost of goods sold was increased revenues in the first six months of 2018. Our cost of goods sold in the first six months of 2018 was 51.2 percent of revenues compared with 51.4 percent of revenues in the first six months of 2017.

 

 

17

 

 

Gross profit of $38.2 million in the first six months of 2018 was $1.8 million, or 5 percent, higher than in the comparable 2017 period. Our gross profit percentage in the first six months of 2018 was 48.8 percent of revenues compared with 48.6 percent of revenues in the first six months of 2017. The increase in gross profit percentage in the 2018 period compared to the 2017 period was primarily related to favorable manufacturing efficiencies in the first six months of 2018.

 

Operating expenses of $15.5 million for the first six months 2018 were $719,000 higher than the operating expenses for the first six months of 2017. This increase was comprised of a $233,000 increase in G&A, a $452,000 increase in Selling expenses expenses and a $34,000 increase in R&D expenses. The increase in G&A expenses for the first six months of 2018 was principally attributable to increased outside services, increased travel and increased software costs partially offset by decreased compensation and benefit costs. The increase in Selling expenses was primarily related to increased travel, increased promotion costs, increased outside services and increased compensation. The increase in R&D costs was primarily related to increased compensation and travel costs partially offset by decreased regulatory costs and reduced repairs.

 

Operating income in the first six months of 2018 increased $1.1 million to $22.6 million, a 5 percent increase from our operating income in the six months ended June 30, 2017. Operating income was 29 percent of revenues in both the first six months of 2018 and the first six months of 2017.

 

Interest and dividend income for the first six months of 2018 was $742,000, compared with $519,000 for the same period in the prior year. Increased levels of investment and increased interest rates were the primary reasons for the increase.

 

We adopted ASU 2016-01 as of January 1, 2018 (see Note 7). For the first six months of 2018 we recorded an unrealized loss on an equity investment of $1.2 million as a result of a decline in the market value of this investment during the 2018 period which was reflected as an Other investment loss on our income statement.

 

Income tax expense for the first six months of 2018 was $4.9 million compared to income tax expense of $2.0 million for the same period in the prior year. The effective tax rate for the first six months of 2018 was 22.1 percent, compared with 9.3 percent for the first six months of 2017. The effective tax rate for the first six months of 2017 was favorably impacted by a tax benefit of $5.3 million related to excess tax benefits from stock compensation together with the benefit from the Section 199 deductions.

 

Liquidity and Capital Resources

As of June 30, 2018, we had a $75.0 million revolving credit facility with a money center bank, entered into on February 28, 2017, pursuant to which the lender is obligated to make advances until February 28, 2022. The credit facility is secured by substantially all of our inventories, equipment and accounts receivable. We had no outstanding borrowings under our credit facility at June 30, 2018. Our ability to borrow funds under the credit agreement from time to time is contingent on meeting certain covenants in the loan agreement, the most restrictive of which is the ratio of total debt to earnings before interest, income tax, depreciation and amortization. At June 30, 2018, we were in compliance with all financial covenants.

 

 

18

 

 

At June 30, 2018, we had a total of $82.5 million in cash and cash equivalents, short-term investments and long-term investments, an increase of $7.7 million from December 31, 2017. The principal contributor to this increase was operating results.

 

Cash flows from operating activities of $20.9 million for the six months ended June 30, 2018 were primarily comprised of net income plus the net effect of non-cash expenses, increases to accounts payable and accrued liabilities partially offset by increases to accounts receivable and inventories. During the first six months of 2018, we expended $7.6 million for the addition of property and equipment, $26.9 million for the purchase of investments and $4.5 million for dividends. During the same period, maturities of investments generated $24.0 million in cash.

 

At June 30, 2018, we had working capital of $103.6 million, including $36.1 million in cash and cash equivalents and $24.2 million in short-term investments. The $2.0 million decrease in working capital during the first six months of 2018 was primarily related to decreases in short-term investments and increases in accounts payable and accrued liabilities. This decrease was partially offset by increases in cash and cash equivalents and inventories. The net decrease in cash and short-term investments was primarily related to a shift in the investments mix to an increase in long-term investments. The increase in inventories was primarily related to replenishment of inventories to levels required for operational effectiveness. The increase in accounts payable and accrued liabilities is primarily related to timing of payments for replenishment of inventories and operating expenditures.

 

We believe that our $82.5 million in cash, cash equivalents, short-term investments and long-term investments, along with cash flows from operations and available borrowings of up to $75.0 million under our credit facility, will be sufficient to fund our cash requirements for at least the foreseeable future, including the costs associated with the planned expansion of one of our manufacturing facilities. We believe that our strong financial position would allow us to access equity or debt financing should that be necessary. Additionally, we believe that our cash and cash equivalents, short-term investments and long-term investments, as a whole, will continue to increase during the remainder of 2018

 

 

19

 

 

Forward-Looking Statements

Statements in this Management’s Discussion and Analysis and elsewhere in this Quarterly Report on Form 10-Q that are forward looking are based upon current expectations, and actual results or future events may differ materially. Therefore, the inclusion of such forward-looking information should not be regarded as a representation by us that our objectives or plans will be achieved. Such statements include, but are not limited to, our effective tax rate for the remainder of 2018, our ability to fund our cash requirements for the foreseeable future with our current assets, long-term investments, cash flow and borrowings under the credit facility, our access to equity and debt financing, and the increase in cash, cash equivalents, and investments during the remainder of 2018. Words such as “expects,” “believes,” “anticipates,” “intends,” “should,” “plans,” and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements contained herein involve numerous risks and uncertainties, and there are a number of factors that could cause actual results or future events to differ materially, including, but not limited to, the following: changing economic, market and business conditions; acts of war or terrorism; the effects of governmental regulation; the impact of competition and new technologies; slower-than-anticipated introduction of new products or implementation of marketing strategies; implementation of new manufacturing processes or implementation of new information systems; our ability to protect our intellectual property; changes in the prices of raw materials; changes in product mix; intellectual property and product liability claims and product recalls; the ability to attract and retain qualified personnel; and the loss of, or any material reduction in sales to, any significant customers. In addition, assumptions relating to budgeting, marketing, product development and other management decisions are subjective in many respects and thus susceptible to interpretations and periodic review which may cause us to alter our marketing, capital expenditures or other budgets, which in turn may affect our results of operations and financial condition. The forward-looking statements in this Quarterly Report on Form 10-Q are made as of the date hereof, and we do not undertake any obligation, and disclaim any duty, to supplement, update or revise such statements, whether as a result of subsequent events, changed expectations or otherwise, except as required by applicable law.

Item 3.  Quantitative and Qualitative Disclosures About Market Risk

 

For the quarter ended June 30, 2018, we did not experience any material changes in market risk exposures that affect the quantitative and qualitative disclosures presented in our 2017 Form 10-K.

 

 

20

 

Item 4.   Controls and Procedures

 

Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer, evaluated our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of June 30, 2018. Based upon this evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures are effective. There were no changes in our internal control over financial reporting for the quarter ended June 30, 2018 that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.

PART II

 

OTHER INFORMATION

 

Item 1.   Legal Proceedings

 

From time to time, we may be involved in claims or litigation that arise in the normal course of business. We are not currently a party to any legal proceedings, which, if decided adversely, would have a material adverse effect on our business, financial condition, or results of operations .

 

Item 1A.   Risk Factors

 

There were no material changes to the risk factors disclosed in our 2017 Form 10-K.

 

Item 6.   Exhibits

 

Exhibit
Number		Description
10.1		Amended and Restated Atrion Corporation 2006 Equity Incentive Plan (As last amended on November 7, 2017)
31.1		Sarbanes-Oxley Act Section 302 Certification of Chief Executive Officer
31.2		Sarbanes-Oxley Act Section 302 Certification of Chief Financial Officer
32.1		Certification Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 of The Sarbanes – Oxley Act Of 2002
32.2		Certification Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 of The Sarbanes – Oxley Act Of 2002
101.INS		XBRL Instance Document
101.SCH		XBRL Taxonomy Extension Schema Document
101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		XBRL Taxonomy Extension Label Linkbase Document
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

 

 

 

 

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SIGNATURES

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

	Atrion Corporation (Registrant)
Date: August 7, 2018	By:	/s/ David A. Battat
		David A. Battat
		President and Chief Executive Officer

 

Date: August 7, 2018	By:	/s/ Jeffery Strickland
		Jeffery Strickland
		Vice President and Chief Financial Officer (Principal Accounting and   Financial Officer)

 

 

 

 

 

 

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Exhibit Index

 

Exhibit
Number		Description
10.1		Amended and Restated Atrion Corporation 2006 Equity Incentive Plan (As last amended on November 7, 2017)
31.1		Sarbanes-Oxley Act Section 302 Certification of Chief Executive Officer
31.2		Sarbanes-Oxley Act Section 302 Certification of Chief Financial Officer
32.1		Certification Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 of The Sarbanes – Oxley Act Of 2002
32.2		Certification Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 of The Sarbanes – Oxley Act Of 2002
101.INS		XBRL Instance Document
101.SCH		XBRL Taxonomy Extension Schema Document
101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		XBRL Taxonomy Extension Label Linkbase Document
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

 

 

 

 

 

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