PSS World Medical Inc. (PSSI) filed Quarterly Report for the period ended 2010-07-02.
Pss World Medical Inc. has a market cap of $1.11 billion; its shares were traded at around $19.41 with a P/E ratio of 16.3 and P/S ratio of 0.5. Pss World Medical Inc. had an annual average earning growth of 16.3% over the past 5 years.PSSI is in the portfolios of Columbia Wanger of Columbia Wanger Asset Management, Steven Cohen of SAC Capital Advisors, Kenneth Fisher of Fisher Asset Management, LLC.
This is the annual revenues and earnings per share of PSSI over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of PSSI.
Highlight of Business Operations:
Income from operations increased 16.6% or $3.6 million to $25.3 million during the three months ended July 2, 2010 when compared to the same period in the prior year due to managements continued focus on its margin improvement initiatives, a decrease in incentive compensation costs, and other cost containment measures.
General and administrative expenses for the three months ended July 2, 2010 decreased $3.9 million when compared to the same period in the prior year. This decrease is attributable to (i) decreased stock-based compensation expense of $3.2 million, related to a change in estimated performance achievement during the three months ended June 26, 2009 and the related compensation accrual recognized during that period, and (ii) decreased bonus expense of $1.4 million related to the Companys estimated performance achievement versus the prior year. This was partially offset by an increase in payroll and payroll related costs of $1.5 million related to general merit and benefit increases and decreased capitalized salaries related to internally developed software projects.
Net cash provided by operating activities was $26.9 million and $44.9 million for the three months ended July 2, 2010 and June 26, 2009, respectively.
Net cash provided by operating activities during the three months ended July 2, 2010 was the result of net income adjusted for noncash expenses, which included $2.7 million related to noncash compensation expense, and a change in operating working capital of approximately $8.8 million.
Net cash (used in) provided by investing activities was $(8.0) million and $0.8 million during the three months ended July 2, 2010 and June 26, 2009, respectively, and was impacted by the following factors:
Net cash (used in) provided by financing activities was $(12.6) million and $1.9 million during the three months ended July 2, 2010 and June 26, 2009, respectively, and was impacted by the following factors: