Cummins Inc, USA

Cummins Inc, USA

COMPANY WATCH Cummins Inc, USA Cantel Medical Corp, USA Key Figures (US$ million) Three months ended 31.1 2015 2014 135.4 119.0 Cost of Sales 7...

64KB Sizes 2 Downloads 57 Views

COMPANY WATCH

Cummins Inc, USA

Cantel Medical Corp, USA Key Figures (US$ million) Three months ended 31.1 2015

2014

135.4

119.0

Cost of Sales

74.8

66.7

Gross Profit

60.6

Net Sales

Key Figures (US$ million) Fourth quarter ended 31.12 2014

2013

5090

4588

52.3

Net Sales Of Which: Components Distribution

1321 1694

1135 1073

3.2

2.5

Cost of Sales

3817

3451

Income before Interest and Income Taxes

18.3

18.2

Gross Margin

1273

1137

Net Income

11.1

11.1

Operating Income

581

553

Income before Income Taxes

612

547

Six months ended 31.1 2015

Net Income

467

461

2014

Net Sales

272.2

237.3

Cost of Sales

151.1

133.5

2014

2013

Gross Profit

121.1

103.8

19 221

17 301

6.8

4.8

Income before Interest and Income Taxes

Net Sales Of Which: Components Distribution

5118 5174

4342 3749

37.3

36.5

Cost of Sales

14 360

13 021

Net Income

22.3

22.3

Research and Development

Research and Development

Year ended 31.12

Gross Margin

4861

4280

Operating Income

2365

2101

Income before Income Taxes

2434

2119

Net Income

1736

1588

COMMENT Cantel Medical Corp delivered net income of almost US$11.1 million on a 14% increase in sales to US$135.4 million for the second quarter ended 31 January 2015. This compares with net income of US$11.1 million and sales of US$119.0 million a year earlier. Andrew Krakauer, Cantel’s CEO, said they were pleased to have delivered solid sales and adjusted net income growth in the quarter. “All three business units have greatly benefited from further investments in new product development, sales and marketing programs, and the integration of recent acquisitions. Overall, we had solid organic sales growth of 6.5%, while our total sales growth of 14% demonstrates

March 2015

the success of our acquisition program,” said Krakauer. The Mar Cor Water Purification and Filtration segment showed second quarter organic sales growth of 3% against an unusually strong quarter in the same period last year. The gains were driven mainly by the strength of consumables and service growth, and the segment delivered a 14% increase in operating income. The acquisition of Pure Water Solutions Inc in January 2015 has strengthened the company’s Water Purification and Filtration footprint through eight regional offices in the southeastern United States (see Filtration Industry Analyst, January 2015). ■ www.cantelmedical.com

COMMENT Cummins has posted fourth quarter fiscal 2014 sales of US$5.1 billion, up 10.9% on the year earlier. Net income was 1.3% stronger at US$467 million. Results for the full year followed the same trends with net sales increasing 11.1% on the 2013 figure to a record US$19.2 billion and net income 9.3% stronger at US$1.7 billion. “We reported record revenues in 2014 despite weak economic conditions in several of our most important international markets,” Cummins chair and CEO Tom Linebarger said. “Revenues grew 11% as demand in on-highway markets

in North America improved, we continued executing our distributor acquisition strategy, and we delivered strong growth in China driven by new products.” Linebarger said the improvement in profitability was driven by record performance in the Components and Distribution businesses and higher earnings in the Engine business. “Results in the company’s Power Generation business fell short of expectations, but the actions the company has taken to lower costs will improve earnings going forward,” he added. ■ www.cummins.com

Filtration Industry Analyst

9