Continued growth in its AngioDynamics subsidiary and sales growth in its diagnostic products for the CT market powered E-Z-Em Inc. to higher ground in its second fiscal quarter, ending Nov. 29, 2003.
Net sales rose 12 percent to $36.9 million, compared with $32.9 million in the second quarter of FY03. Net earnings rose 79 percent to $1.8 million, compared with $988,000 in the year-ago quarter.
For the six-month period, net sales increased 11 percent to a record $70 million, up from $63.2 million for the first half of FY03. Net earnings increased to $1.5 million, compared with $247,000 in the year-ago period. FY04 six-month numbers include expenses of $1.2 million related to a previously announced plant closing and operational restructuring.
E-Z-Em President and CEO Anthony A. Lombardo described the second quarter as "excellent," adding that the sales growth in the company's two radiology business segments represents "a continuation of trends in peripheral vascular and other non-coronary disease therapeutic applications and in CT imaging, all of which are driving overall market growth."
AngioDynamics' sales increased 35 percent over the year-ago quarter.