Atrion Corporation (NASDAQ: ATRI) today announced that for the second quarter ended June 30, 2019 revenues totaled $40.1 million compared with $38.8 million for the same period in 2018. Net income for the second quarter of 2019 totaled $9.7 million as compared to $8.8 million for the same period in 2018, with diluted earnings per share for the second quarter of 2019 at $5.18 compared to $4.74 in the second quarter of 2018.

Commenting on the Company’s results for the second quarter of 2019 compared to the same period last year, David A. Battat, President & CEO, stated, “We are pleased with the 3% increase in revenues, and the 4% increase in pretax income. Diluted earnings per share were up 9%. These results were achieved despite a less favorable product mix and higher manufacturing costs, while benefiting from a higher mark-to-market valuation of our investment portfolio as well as a more favorable effective tax rate.” Mr. Battat continued, “We expect a gradual ramp-up in growth as new cardiovascular and inflation products are launched in the coming 12 months.” Mr. Battat concluded, “We continue to be debt-free while holding cash and short and long investments totaling $98.2 million as of June 30, 2019.”

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 growth over the next 12 months.  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; intellectual property and product liability claims and product recalls; and the loss of, or any material reduction in sales to, any significant customers..  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. The forward-looking statements in this press release 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.


Contact: Jeffery Strickland
 Vice President and Chief Financial Officer
 (972) 390-9800


 Three Months EndedJune 30, Six Months EndedJune 30,
  2019   2018   2019   2018 
Revenues$  40,103  $  38,847  $  81,717  $  78,248 
Cost of goods sold   21,511     19,624     44,422     40,074 
  Gross profit   18,592     19,223     37,295     38,174 
Operating expenses   7,626     7,957     15,291     15,542 
  Operating income   10,966     11,266     22,004     22,632 
Interest and dividend income   388     411       854        742 
Other investment income (loss)     354       (408)      681       (1,197)
Income before income taxes   11,708     11,269     23,539     22,177 
Income tax provision   (2,044)    (2,472)    (4,437)    (4,892)
  Net income $    9,664  $    8,797  $ 19,102  $ 17,285 
Income per basic share$    5.21  $    4.75  $    10.30  $    9.33 
Weighted average basic shares outstanding   1,854     1,852     1,854     1,853 
Income per diluted share$    5.18  $    4.74  $    10.25  $    9.31 
Weighted average diluted shares outstanding   1,864       1,857     1,863     1,856 



 June 30, Dec. 31,
ASSETS 2019  2018
Current assets:   
  Cash and cash equivalents$  49,602 $  58,753
  Short-term investments   25,595    9,684
  Total cash and short-term investments   75,197    68,437
  Accounts receivable   20,368    17,014
  Inventories   34,590    33,572
  Prepaid expenses and other   2,931    3,242
  Total current assets   133,086    122,265
  Long-term investments   23,051    21,048
  Property, plant and equipment, net   79,721    74,893
Other assets   12,893    13,010
 $  248,751 $  231,216
Current liabilities   10,942    10,220
Line of credit   --    --
Other non-current liabilities   12,549    10,229
Stockholders’ equity   225,260     210,767
 $  248,751 $  231,216


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