ATRION Corp. (ATRI, Financial) filed Quarterly Report for the period ended 2009-09-30.
ATRION CORP. AlaTenn is a diversified holding co. w/2 lines of business: energy - natural gas transmission and marketing primarily through the provision of natural gas service in the lower Tennessee Valley area and the manufacture of products for the health care industry. Atrion Corp. has a market cap of $239.4 million; its shares were traded at around $120.95 with a P/E ratio of 14.6 and P/S ratio of 2.5. The dividend yield of Atrion Corp. stocks is 1.2%. Atrion Corp. had an annual average earning growth of 24.6% over the past 5 years.
Consolidated net income totaled $4.5 million, or $2.25 per basic and $2.20 per diluted share, in the third quarter of 2009. This is compared with consolidated net income of $4.0 million, or $2.03 per basic and $1.99 per diluted share, in the third quarter of 2008. The income per basic share computations are based on weighted average basic shares outstanding of 1,979,943 in the 2009 period and 1,967,669 in the 2008 period. The income per diluted share computations are based on weighted average diluted shares outstanding of 2,027,884 in the 2009 period and 2,005,295 in the 2008 period.
Consolidated net income totaled $13.3 million, or $6.70 per basic and $6.57 per diluted share, in the first nine months of 2009. This is compared with consolidated net income of $11.8 million, or $6.02 per basic and $5.88 per diluted share, in the first nine months of 2008. The income per basic share computations are based on weighted average basic shares outstanding of 1,977,901 in the 2009 period and 1,958,626 in the 2008 period. The income per diluted share computations are based on weighted average diluted shares outstanding of 2,017,414 in the 2009 period and 2,004,517 in the 2008 period.
Operating expenses of $14.6 million for the first nine months of 2009 were $35,000 lower than the operating expenses for the comparable period in 2008. This decrease was comprised of a $410,000 decrease in Selling expenses and a $50,000 decrease in R&D expenses largely offset by a $425,000 increase in G&A expenses. The decrease in Selling expenses for the first nine months of 2009 was primarily related to decreased compensation, promotion, outside services, and travel-related expenses. The decrease in R&D costs was primarily related to reduced prototype expenses. The increase in G&A expenses for the first nine months of 2009 was principally attributable to increased compensation and outside services partially offset by decreased travel-related expenses.
At September 30, 2009, the Company had $30.7 million in cash and cash equivalents and short-term and long-term investments, an increase of $14.0 million from December 31, 2008. The principal contributor to this increase was the cash generated by operating activities of $20.9 million, which was partially offset by payments for acquisitions of property, plant, and equipment of $5.4 million and the payment of dividends of $1.9 million
Cash flows from operating activities generated $20.8 million for the nine months ended September 30, 2009 as compared to $12.8 million for the nine months ended September 30, 2008. The increase in the 2009 period was primarily attributable to increased operational results and more favorable cash requirements for working capital related to inventories and accounts receivables as compared to the 2008 period. During the first nine months of 2009, the Company expended $5.4 million for the addition of property and equipment and $15.7 million for short-term and long-term investments. Stock option activities in the first nine months of 2009 generated $439,000 of cash and the Company paid dividends of $1.9 million during that period.
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ATRION CORP. AlaTenn is a diversified holding co. w/2 lines of business: energy - natural gas transmission and marketing primarily through the provision of natural gas service in the lower Tennessee Valley area and the manufacture of products for the health care industry. Atrion Corp. has a market cap of $239.4 million; its shares were traded at around $120.95 with a P/E ratio of 14.6 and P/S ratio of 2.5. The dividend yield of Atrion Corp. stocks is 1.2%. Atrion Corp. had an annual average earning growth of 24.6% over the past 5 years.
Highlight of Business Operations:
For the three months ended September 30, 2009, the Company reported revenues of $25.2 million, operating income of $6.6 million and net income of $4.5 million, up 7 percent, 14 percent and 12 percent, respectively, from the three months ended September 30, 2008. For the nine months ended September 30, 2009, the Company reported revenues of $76.2 million, operating income of $19.7 million and net income of $13.3 million, up 5 percent, 14 percent and 13 percent, respectively, from the nine months ended September 30, 2008.Consolidated net income totaled $4.5 million, or $2.25 per basic and $2.20 per diluted share, in the third quarter of 2009. This is compared with consolidated net income of $4.0 million, or $2.03 per basic and $1.99 per diluted share, in the third quarter of 2008. The income per basic share computations are based on weighted average basic shares outstanding of 1,979,943 in the 2009 period and 1,967,669 in the 2008 period. The income per diluted share computations are based on weighted average diluted shares outstanding of 2,027,884 in the 2009 period and 2,005,295 in the 2008 period.
Consolidated net income totaled $13.3 million, or $6.70 per basic and $6.57 per diluted share, in the first nine months of 2009. This is compared with consolidated net income of $11.8 million, or $6.02 per basic and $5.88 per diluted share, in the first nine months of 2008. The income per basic share computations are based on weighted average basic shares outstanding of 1,977,901 in the 2009 period and 1,958,626 in the 2008 period. The income per diluted share computations are based on weighted average diluted shares outstanding of 2,017,414 in the 2009 period and 2,004,517 in the 2008 period.
Operating expenses of $14.6 million for the first nine months of 2009 were $35,000 lower than the operating expenses for the comparable period in 2008. This decrease was comprised of a $410,000 decrease in Selling expenses and a $50,000 decrease in R&D expenses largely offset by a $425,000 increase in G&A expenses. The decrease in Selling expenses for the first nine months of 2009 was primarily related to decreased compensation, promotion, outside services, and travel-related expenses. The decrease in R&D costs was primarily related to reduced prototype expenses. The increase in G&A expenses for the first nine months of 2009 was principally attributable to increased compensation and outside services partially offset by decreased travel-related expenses.
At September 30, 2009, the Company had $30.7 million in cash and cash equivalents and short-term and long-term investments, an increase of $14.0 million from December 31, 2008. The principal contributor to this increase was the cash generated by operating activities of $20.9 million, which was partially offset by payments for acquisitions of property, plant, and equipment of $5.4 million and the payment of dividends of $1.9 million
Cash flows from operating activities generated $20.8 million for the nine months ended September 30, 2009 as compared to $12.8 million for the nine months ended September 30, 2008. The increase in the 2009 period was primarily attributable to increased operational results and more favorable cash requirements for working capital related to inventories and accounts receivables as compared to the 2008 period. During the first nine months of 2009, the Company expended $5.4 million for the addition of property and equipment and $15.7 million for short-term and long-term investments. Stock option activities in the first nine months of 2009 generated $439,000 of cash and the Company paid dividends of $1.9 million during that period.
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