LITTLE FALLS, N.J.,
Sept. 28, 2017 /PRNewswire/
-- CANTEL MEDICAL CORP. (NYSE: CMD) reported net income
of $16,997, or $0.41 per diluted share, on a 14.8% increase in
net sales to $205,502 for the fourth
quarter ended July 31, 2017. This compares with net income of
$16,291, or $0.39 per diluted share, on net sales of
$179,002 for the fourth quarter ended
July 31, 2016. For the full fiscal year ended July 31,
2017, the Company reported net income of $71,378, or $1.71
per diluted share, on a 15.9% increase in net sales to a record
$770,157. This compares with net
income of $59,953, or $1.44 per diluted share, on net sales of
$664,755 for the full fiscal year
ended July 31, 2016.
Non-GAAP net income increased 11.5% for the fourth quarter ended
July 31, 2017 to $22,489, or
$0.54 per diluted share, compared
with non-GAAP net income of $20,162,
or $0.48 per diluted share, for the
same quarter last year. For the full fiscal year ended
July 31, 2017, the Company reported a 18.9% increase in
Non-GAAP net income to $86,740, or
$2.08 per diluted share. This
compares with non-GAAP net income for the full fiscal year ended
July 31, 2016 of $72,938, or
$1.75 per diluted share.
Jørgen B. Hansen, President and Chief Executive Officer stated,
"We are pleased to report record sales and strong earnings
performance this quarter. Our 14.8% reported sales growth in the
quarter was driven by organic growth of 9.2% and the impact from
acquisitions of 6.1%, which was slightly offset by the negative
foreign currency impact of 0.5%. We continue to see very strong
performance internationally, where sales were up 17.3% overall and
our US business had performed exceptionally well given tough
comparables with 14.1% growth. Gross margin was relatively flat
year over year at 47.6%."
Hansen added, "Our Endoscopy segment had strong organic growth
of 9.7%, and overall sales growth of 13.9%, which was an excellent
result given the very strong performance in the prior year. Our
recurring revenue for this segment was up a healthy 17.6%. In July,
we announced the acquisition of BHT Group, the German leader in
automated endoscope reprocessing. We closed this transaction
in August and are optimistic that the addition of BHT Group will
position us well for future growth in Germany and add new products with strong
global potential.
Sales in our Water Purification and Filtration segment increased
13.7%, with our strong backlog translating into an increase in
shipments for the quarter, driving the majority of the growth over
the prior year.
For the fourth consecutive quarter, our Healthcare Disposables
segment yielded our strongest sales growth, up 23.0% with the
majority of growth driven by the Accutron acquisition. Favorable
product mix coupled with double-digit growth of our higher margin
branded portfolio drove gross margin expansion in this segment.
The Company has a strong balance sheet and continues to generate
significant cash flow and EBITDAS. We finished the fourth quarter
with cash of $36,584 and gross debt
of $126,000, while generating
adjusted EBITDAS of $42,555 in the
quarter, up 13.1%. For the full fiscal year 2017, adjusted EBITDAS
grew by 17.0% to $161,466 as compared
to $137,949 for the full fiscal year
2016.
Overall, the excellent performance in the fourth quarter capped
off a strong fiscal year 2017 for Cantel that was entirely in line
with our overall growth objectives."
Conference Call Information
The Company will hold a
conference call to discuss the results for the fourth quarter ended
July 31, 2017 on Thursday, September 28, 2017 at 11:00
a.m. Eastern time. In addition, during the conference
call the Company will provide financial guidance with respect to
the full fiscal year ending July 31, 2018.
To participate in the conference call, dial 1-877-407-8033
(US & Canada) or
1-201-689-8033 (International) approximately 5 to 10 minutes before
the beginning of the call. If you are unable to participate, a
digital replay of the call will be available from Thursday, September 28, 2017 through midnight on
November 28, 2017 by dialing
1-877-481-4010 (US & Canada) or 1-919-882-2331 (International) and
using conference ID #:20215.
An audio webcast will be available via the Cantel website at
www.cantelmedical.com. A replay of the presentation will be
archived on the Cantel web site for those unable to listen live. In
addition, the Company will provide a supplemental presentation to
complement the conference call. The presentation can be accessed on
Cantel's website in the Investor Relations section under
presentations.
About Cantel Medical
Cantel Medical is a leading
global company dedicated to delivering innovative infection
prevention products and services for patients, caregivers, and
other healthcare providers which improve outcomes, enhance safety
and help save lives. Our products include specialized medical
device reprocessing systems for endoscopy and renal dialysis,
advanced water purification equipment, sterilants, disinfectants
and cleaners, sterility assurance monitoring products for hospitals
and dental clinics, disposable infection control products primarily
for dental and GI endoscopy markets, dialysate concentrates, hollow
fiber membrane filtration and separation products. Additionally, we
provide technical service for our products.
For further information, visit the Cantel website at
www.cantelmedical.com.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements involve a number of risks and uncertainties,
including, without limitation, the risks detailed in Cantel's
filings and reports with the Securities and Exchange Commission.
Such forward-looking statements are only predictions, and actual
events or results may differ materially from those projected or
anticipated.
CANTEL MEDICAL
CORP.
|
Condensed
Consolidated Statements of Income
|
(Unaudited)
|
|
|
|
|
|
|
Three Months
Ended
July 31,
|
|
Twelve Months
Ended
July 31,
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
Net sales
|
$
|
205,502
|
|
|
$
|
179,002
|
|
|
$
|
770,157
|
|
|
$
|
664,755
|
|
|
|
|
|
|
|
|
|
Cost of
sales
|
107,774
|
|
|
93,672
|
|
|
402,997
|
|
|
355,569
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
97,728
|
|
|
85,330
|
|
|
367,160
|
|
|
309,186
|
|
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
|
Selling
|
30,801
|
|
|
28,095
|
|
|
116,113
|
|
|
99,062
|
|
General and
administrative
|
34,598
|
|
|
26,908
|
|
|
122,270
|
|
|
97,463
|
|
Research and
development
|
5,039
|
|
|
4,511
|
|
|
18,367
|
|
|
15,410
|
|
Total operating
expenses
|
70,438
|
|
|
59,514
|
|
|
256,750
|
|
|
211,935
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
27,290
|
|
|
25,816
|
|
|
110,410
|
|
|
97,251
|
|
|
|
|
|
|
|
|
|
Interest expense,
net
|
1,000
|
|
|
833
|
|
|
4,303
|
|
|
3,320
|
|
Other
income
|
(126)
|
|
|
—
|
|
|
(126)
|
|
|
—
|
|
|
|
|
|
|
|
|
|
Income before income
taxes
|
26,416
|
|
|
24,983
|
|
|
106,233
|
|
|
93,931
|
|
|
|
|
|
|
|
|
|
Income
taxes
|
9,419
|
|
|
8,692
|
|
|
34,855
|
|
|
33,978
|
|
|
|
|
|
|
|
|
|
Net income
|
$
|
16,997
|
|
|
$
|
16,291
|
|
|
$
|
71,378
|
|
|
$
|
59,953
|
|
|
|
|
|
|
|
|
|
Earnings per common
share - diluted
|
$
|
0.41
|
|
|
$
|
0.39
|
|
|
$
|
1.71
|
|
|
$
|
1.44
|
|
|
|
|
|
|
|
|
|
Dividends per common
share
|
$
|
0.07
|
|
|
$
|
0.06
|
|
|
$
|
0.14
|
|
|
$
|
0.12
|
|
|
|
|
|
|
|
|
|
Weighted average
shares - diluted
|
41,799,602
|
|
|
41,751,217
|
|
|
41,797,492
|
|
|
41,730,557
|
|
CANTEL MEDICAL
CORP.
|
Condensed
Consolidated Balance Sheets
|
(Unaudited)
|
|
|
|
July 31,
2017
|
|
July 31,
2016
|
Assets
|
|
|
|
Cash and cash
equivalents
|
$
|
36,584
|
|
|
$
|
28,367
|
|
Accounts receivable,
net
|
110,656
|
|
|
93,332
|
|
Inventories,
net
|
98,724
|
|
|
91,486
|
|
Prepaid expenses and
other current assets
|
11,407
|
|
|
9,557
|
|
Property and
equipment, net
|
88,338
|
|
|
74,604
|
|
Intangible assets,
net
|
124,512
|
|
|
111,719
|
|
Goodwill
|
311,445
|
|
|
280,318
|
|
Other
assets
|
4,707
|
|
|
5,149
|
|
|
$
|
786,373
|
|
|
$
|
694,532
|
|
|
|
|
|
Liabilities and
stockholders' equity
|
|
|
|
Current
liabilities
|
$
|
106,779
|
|
|
$
|
96,335
|
|
Deferred income
taxes
|
24,714
|
|
|
23,579
|
|
Long-term
debt
|
126,000
|
|
|
116,000
|
|
Other long-term
liabilities
|
4,948
|
|
|
4,248
|
|
Stockholders'
equity
|
523,932
|
|
|
454,370
|
|
|
$
|
786,373
|
|
|
$
|
694,532
|
|
SUPPLEMENTARY INFORMATION - RECONCILIATION OF
GAAP TO NON-GAAP FINANCIAL MEASURES
In evaluating our operating performance, we supplement the
reporting of our financial information determined under generally
accepted accounting principles in the
United States ("GAAP") with certain non-GAAP financial
measures including (i) non-GAAP net income; (ii) non-GAAP earnings
per diluted share ("EPS"); (iii) earnings before interest, taxes,
depreciation, amortization, loss on disposal of fixed assets, and
stock-based compensation expense ("EBITDAS"); (iv) adjusted
EBITDAS; (v) net debt; and (vi) organic sales. These non-GAAP
financial measures are indicators of the Company's performance that
are not required by, or presented in accordance with, GAAP. They
are presented with the intent of providing greater transparency to
financial information used by us in our financial analysis and
operational decision-making. We believe that these non-GAAP
measures provide meaningful information to assist investors,
stockholders and other readers of our Condensed Consolidated
Financial Statements in making comparisons to our historical
operating results and analyzing the underlying performance of our
results of operations. These non-GAAP financial measures are not
intended to be, and should not be, considered separately from, or
as an alternative to, the most directly comparable GAAP financial
measures.
Reconciliations of Net Income and Diluted EPS
to Non-GAAP Net Income and Non-GAAP Diluted EPS
To measure earnings performance on a consistent and comparable
basis, we exclude certain items that affect comparability of
operating results and the trend of earnings. These adjustments are
irregular in timing, may not be indicative of our past and future
performance and are therefore excluded to allow investors to better
understand underlying operating trends. The following are examples
of the types of adjustments that are excluded: (i) amortization of
purchased intangible assets; (ii) acquisition related items; (iii)
business optimization and restructuring-related charges; (iv)
certain significant and discrete tax matters; and (v) other
significant items management deems irregular or non-operating in
nature.
Amortization expense of purchased intangible assets is a
non-cash expense related to intangibles that were primarily the
result of business acquisitions. Our history of acquiring
businesses has resulted in significant increases in amortization of
intangible assets that reduced the Company's net income. The
removal of amortization from our overall operating performance
helps in assessing our cash generated from operations including our
return on invested capital, which we believe is an important
analysis for measuring our ability to generate cash and invest in
our continued growth.
Acquisition related items consist of (i) fair value
adjustments to contingent consideration and other contingent
liabilities resulting from acquisitions, (ii) due diligence,
integration, legal fees and other transaction costs associated with
our acquisition program and (iii) acquisition accounting
charges for the amortization of the initial fair value adjustments
of acquired inventory and deferred revenue. The adjustments of
contingent consideration and other contingent liabilities are
periodic adjustments to record such amounts at fair value at each
balance sheet date. Given the subjective nature of the assumptions
used in the determination of fair value calculations, fair value
adjustments may potentially cause significant earnings volatility
that are not representative of our operating results. Similarly,
due diligence, integration, legal and other acquisition costs
associated with our acquisition program, including acquisition
accounting charges relating to recording acquired inventory and
deferred revenue at fair market value, can be significant and also
adversely impact our effective tax rate as certain costs are often
not tax-deductible. Since these acquisition related items are
irregular and often mask underlying operating performance, we
excluded these amounts for purposes of calculating these non-GAAP
financial measures to facilitate an evaluation of our current
operating performance and a comparison to past operating
performance.
As a result of the adoption of a new accounting standard on
August 1, 2016, we no longer record
excess tax benefits as an adjustment to additional paid-in capital,
but record such excess tax benefits on a prospective basis as a
reduction of income tax expense, which amounted to $2,241 in the twelve months ended July 31, 2017. The magnitude of the impact of
excess tax benefits generated in the future, which may be favorable
or unfavorable, are dependent upon our future grants of equity
awards, our future share price on the date awards vest in relation
to the fair value of awards on grant date and the exercise behavior
of our stock option holders. Since these favorable tax benefits are
largely unrelated to our results and unrepresentative of our normal
effective tax rate, we excluded its impact on net income and
diluted EPS for the twelve months ended July
31, 2017 to arrive at our non-GAAP financial measures.
In fiscal 2016, we announced the retirement plans of our Chief
Executive Officer and recorded the majority of the costs associated
with his retirement in our consolidated financial statements. Since
these costs are irregular and mask our underlying operating
performance, we made an adjustment to our net income and diluted
EPS for the twelve months ended July 31,
2017 and 2016, respectively to exclude such costs to arrive
at our non-GAAP financial measures.
Tax legislation was enacted in the
United States and internationally that enabled us to record
favorable tax benefits in during fiscal 2016 relating to the 2015
calendar year. Since these favorable tax benefits were largely
unrelated to fiscal 2016, we excluded its impact on net income and
diluted EPS for the twelve months ended July
31, 2016 for purposes of calculating these non-GAAP
financial measures to facilitate an evaluation of our current
performance and a comparison to past performance.
Three months ended July 31,
2017
We made adjustments to net income and diluted EPS to exclude
(i) amortization expense of purchased intangible assets,
(ii) acquisition related items and (iii) other business
optimization and restructuring-related charges to arrive at our
non-GAAP financial measures, non-GAAP net income and non-GAAP
diluted EPS.
Three months ended July 31,
2016
We made adjustments to net income and diluted EPS to exclude
(i) amortization expense of purchased intangible assets and
(ii) costs associated with the retirement of our former Chief
Executive Officer to arrive at our non-GAAP financial measures,
non-GAAP net income and non-GAAP diluted EPS.
Twelve months ended July 31,
2017
We made adjustments to net income and diluted EPS to exclude
(i) amortization expense of purchased intangible assets,
(ii) acquisition related items, (iii) costs associated
with the retirement of our former Chief Executive Officer and (iv)
other business optimization and restructuring-related charges to
arrive at our non-GAAP financial measures, non-GAAP net income and
non-GAAP diluted EPS.
Twelve months ended July 31,
2016
We made adjustments to net income and diluted EPS to exclude
(i) amortization expense of purchased intangible assets,
(ii) acquisition related items, (iii) costs associated
with the retirement of our former Chief Executive Officer and (iv)
the favorable impact of tax legislation to arrive at our non-GAAP
financial measures, non-GAAP net income and non-GAAP diluted
EPS.
The reconciliations of net income and diluted EPS to non-GAAP
net income and non-GAAP diluted EPS were calculated as follows for
the three months ended July 31, 2017
and 2016:
|
|
Three Months Ended
|
|
|
July
31,
|
(Unaudited)
|
|
2017
|
|
2016
|
Net income/diluted
EPS, as reported
|
|
$
|
16,997
|
|
|
$
|
0.41
|
|
|
$
|
16,291
|
|
|
$
|
0.39
|
|
Intangible
amortization, net of tax(1)
|
|
4,324
|
|
|
0.10
|
|
|
2,399
|
|
|
0.06
|
|
Acquisition related
items, net of tax(2)
|
|
301
|
|
|
0.01
|
|
|
—
|
|
|
—
|
|
CEO retirement costs,
net of tax(1)
|
|
—
|
|
|
—
|
|
|
1,472
|
|
|
0.03
|
|
Restructuring costs,
net of tax(1)
|
|
867
|
|
|
0.02
|
|
|
—
|
|
|
—
|
|
Non-GAAP net
income/non-GAAP diluted EPS
|
|
$
|
22,489
|
|
|
$
|
0.54
|
|
|
$
|
20,162
|
|
|
$
|
0.48
|
|
|
(1) Amounts were
recorded in general and administrative expenses.
|
(2) For the
three months ended July 31, 2017, a favorable pre-tax
acquisition related item of $148 was recorded in cost of sales and
$800 was recorded in general and administrative
expenses.
|
The reconciliations of net income and diluted EPS to non-GAAP
net income and non-GAAP diluted EPS were calculated as follows for
the three months ended July 31, 2017
and 2016:
|
Twelve Months
Ended
|
|
July 31,
|
|
2017
|
|
2016
|
Net income/diluted
EPS, as reported
|
$
|
71,378
|
|
|
$
|
1.71
|
|
|
$
|
59,953
|
|
|
$
|
1.44
|
|
Intangible
amortization, net of tax(1)
|
12,800
|
|
|
0.30
|
|
|
9,283
|
|
|
0.22
|
|
Acquisition related
items, net of tax(2)
|
1,533
|
|
|
0.04
|
|
|
2,290
|
|
|
0.06
|
|
CEO retirement costs,
net of tax(1)
|
1,213
|
|
|
0.03
|
|
|
2,212
|
|
|
0.05
|
|
Restructuring costs,
net of tax(1)
|
2,057
|
|
|
0.05
|
|
|
—
|
|
|
—
|
|
Excess tax
benefit(3)
|
(2,241)
|
|
|
(0.05)
|
|
|
—
|
|
|
—
|
|
Tax legislative
changes(3)
|
—
|
|
|
—
|
|
|
(800)
|
|
|
(0.02)
|
|
Non-GAAP net
income/non-GAAP diluted EPS
|
$
|
86,740
|
|
|
$
|
2.08
|
|
|
$
|
72,938
|
|
|
$
|
1.75
|
|
|
(1) Amounts were
recorded in general and administrative expenses.
|
(2) For the
twelve months ended July 31, 2017, pre-tax acquisition related
items of $353 was recorded in cost of sales and $2,094 was recorded
in general and administrative expenses. For the twelve months ended
July 31, 2016, pre-tax acquisition related items of $959 was
recorded in cost of sales and $2,254 was recorded in general and
administrative expenses.
|
(3) Amounts were
recorded in income taxes.
|
Reconciliation of Net Income to EBITDAS and
Adjusted EBITDAS
We believe EBITDAS is an important valuation measurement for
management and investors given the increasing effect that non-cash
charges, such as stock-based compensation, amortization related to
acquisitions and depreciation of capital equipment have on the
Company's net income. In particular, acquisitions have historically
resulted in significant increases in amortization of purchased
intangible assets that reduce the Company's net income.
Additionally, we regard EBITDAS as a useful measure of operating
performance and cash flow before the effect of interest expense and
is a complement to operating income, net income and other GAAP
financial performance measures.
We define adjusted EBITDAS as EBITDAS excluding the same
non-GAAP adjustments to net income discussed above. We use adjusted
EBITDAS when evaluating the operating performance of the Company
because we believe the exclusion of such adjustments, of which a
significant portion are non-cash items, is necessary to provide the
most accurate measure of on-going core operating results and to
evaluate comparative results period over period.
The reconciliations of net income to EBITDAS and Adjusted
EBITDAS were calculated as follows:
|
|
Three Months Ended
|
|
Twelve
Months Ended
|
|
|
July
31,
|
|
July
31,
|
(Unaudited)
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
Net income, as
reported
|
|
$
|
16,997
|
|
|
$
|
16,291
|
|
|
$
|
71,378
|
|
|
$
|
59,953
|
|
Interest expense,
net
|
|
1,000
|
|
|
833
|
|
|
4,303
|
|
|
3,320
|
|
Income
taxes
|
|
9,419
|
|
|
8,692
|
|
|
34,855
|
|
|
33,978
|
|
Depreciation
|
|
4,123
|
|
|
3,235
|
|
|
15,045
|
|
|
11,989
|
|
Amortization
|
|
6,477
|
|
|
3,358
|
|
|
18,407
|
|
|
13,095
|
|
Loss on disposal of
fixed assets
|
|
477
|
|
|
376
|
|
|
966
|
|
|
553
|
|
Stock-based
compensation expense
|
|
1,861
|
|
|
2,524
|
|
|
8,844
|
|
|
8,361
|
|
EBITDAS
|
|
40,354
|
|
|
35,309
|
|
|
153,798
|
|
|
131,249
|
|
Acquisition related
items
|
|
652
|
|
|
—
|
|
|
2,447
|
|
|
3,213
|
|
CEO retirement
costs
|
|
—
|
|
|
2,325
|
|
|
1,937
|
|
|
3,487
|
|
Restructuring
costs
|
|
1,549
|
|
|
—
|
|
|
3,284
|
|
|
—
|
|
Adjusted
EBITDAS
|
|
$
|
42,555
|
|
|
$
|
37,634
|
|
|
$
|
161,466
|
|
|
$
|
137,949
|
|
Reconciliation of Debt to Net Debt
We define net debt as long-term debt less cash and cash
equivalents. Each of the components of net debt appears on our
Condensed Consolidated Balance Sheets. We believe that the
presentation of net debt provides useful information to investors
because we review net debt as part of our management of our overall
liquidity, financial flexibility, capital structure and
leverage.
The reconciliations of debt to net debt were calculated as
follows:
|
|
July 31,
2017
|
|
July 31,
2016
|
(Unaudited)
|
|
|
Long-term
debt
|
|
$
|
126,000
|
|
|
$
|
116,000
|
|
Less cash and cash
equivalents
|
|
(36,584)
|
|
|
(28,367)
|
|
Net debt
|
|
$
|
89,416
|
|
|
$
|
87,633
|
|
Reconciliation of Net Sales Growth to Organic
Sales Growth
We define organic sales as net sales less (i) the impact of
foreign currency translation and (ii) net sales related to
acquired businesses during the first twelve months of ownership and
(iii) divestures during the periods being compared. We believe that
reporting organic sales provides useful information to investors by
helping identify underlying growth trends in our business and
facilitating easier comparisons of our revenue performance with
prior periods. We exclude the effect of foreign currency
translation from organic sales because foreign currency translation
is not under management's control, is subject to volatility and can
obscure underlying business trends. We exclude the effect of
acquisitions because the nature, size, and number of acquisitions
can vary dramatically from period to period and can obscure
underlying business trends and make comparisons of financial
performance difficult.
For the three months ended July 31, 2017, the
reconciliation of net sales growth to organic sales growth for
total net sales and net sales of our four reportable segments were
calculated as follows:
(Unaudited)
|
|
Net Sales
|
|
Endoscopy
Net Sales
|
|
Water
Purification
and
Filtration
Net Sales
|
|
Healthcare
Disposables
Net Sales
|
|
Dialysis
Net Sales
|
Net sales
growth
|
|
14.8
|
%
|
|
13.9
|
%
|
|
13.7
|
%
|
|
23.0
|
%
|
|
1.4
|
%
|
Impact due to foreign
currency translation
|
|
0.5
|
%
|
|
1.0
|
%
|
|
0.1
|
%
|
|
0.0
|
%
|
|
0.0
|
%
|
Sales related to
acquisitions
|
|
(6.1)
|
%
|
|
(5.2)
|
%
|
|
0.0
|
%
|
|
(20.1)
|
%
|
|
0.0
|
%
|
Organic sales
growth
|
|
9.2
|
%
|
|
9.7
|
%
|
|
13.8
|
%
|
|
2.9
|
%
|
|
1.4
|
%
|
For the twelve months ended July 31, 2017, the
reconciliation of net sales growth to organic sales growth for
total net sales and net sales of our four reportable segments were
calculated as follows:
(Unaudited)
|
|
Net Sales
|
|
Endoscopy
Net Sales
|
|
Water
Purification
and
Filtration
Net Sales
|
|
Healthcare
Disposables
Net Sales
|
|
Dialysis
Net Sales
|
Net sales
growth
|
|
15.9
|
%
|
|
16.7
|
%
|
|
10.6
|
%
|
|
28.3
|
%
|
|
(6.9)
|
%
|
Impact due to foreign
currency translation
|
|
1.0
|
%
|
|
1.8
|
%
|
|
0.0
|
%
|
|
0.0
|
%
|
|
0.0
|
%
|
Sales related to
acquisitions
|
|
(5.9)
|
%
|
|
(3.5)
|
%
|
|
0.0
|
%
|
|
(23.9)
|
%
|
|
0.0
|
%
|
Organic sales
growth
|
|
11.0
|
%
|
|
15.0
|
%
|
|
10.6
|
%
|
|
4.4
|
%
|
|
(6.9)
|
%
|
(dollar amounts in thousands except share and per share data or
as otherwise specified)
View original
content:http://www.prnewswire.com/news-releases/cantel-medical-reports-record-financial-results-for-the-fourth-quarter-ended-july-31-2017-300527325.html
SOURCE Cantel Medical Corp.