E-Z-EM reports slight drop in profits on mixed costs for Q1

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E-Z-EM, a manufacturer of contrast agents for gastrointestinal radiology, has announced the financial results for its fiscal 2008 first quarter.

The Lake Success, N.Y.-based manufacturer reported that net sales from continuing operations were $33 million for the quarter (end-Sept. 1), down approximately 1 percent, or $473,000 compared with net sales of $33.4 million for the same quarter last year. E-Z-EM attributes the decline to lower sales of CT and x-ray fluoroscopy contrast products.

The gross profit for the current quarter also declined slightly to $14.5 million from $14.6 million in the prior-year quarter, according to E-Z-EM.

The manufacturer also said that operating expenses for the current quarter were $14.1 million compared with $12.5 million in the prior-year period.