Diagnostic Products Corporation Announces First Quarter Earnings
10 Maggio 2005 - 2:02PM
Business Wire
Diagnostic Products Corporation (NYSE:DP) today reported first
quarter sales of $112.9 million, a 6% increase over the first
quarter of 2004. Earnings were $16.1 million, or $.54 per diluted
share, an increase of 4% from $15.5 million or $.52 reported for
the first quarter of 2004. The Euro and the Brazilian Real
strengthened relative to the dollar, and the net effect of foreign
currency movements was a 3% increase in sales. International sales
increased 5% to $80.6 million while domestic sales increased 10% to
$32.3 million. Sales of IMMULITE products grew 7% over the first
quarter of 2004. IMMULITE product line sales reached $103.4 million
for the quarter, 92% of the total sales of the Company. IMMULITE
reagent sales increased 11% this quarter over the first quarter of
2004 to $90.8 million, while IMMULITE instrument and service
revenue fell by 11% to $12.6 million. Sales of RIA products were
$5.6 million, a 13% decline from last year's first quarter. Sales
of other products were $3.9 million, up from $3.4 million in the
same period last year. "We were disappointed in our instrument
revenue for the quarter, however we have made significant progress
on a number of other fronts. We have completed Beta testing on our
Workcell and are on track for full release this quarter, we have
secured new homocysteine contracts which will make up for the
business we lost last year and we were informed that the FDA has
accepted our corrective action plan and we are awaiting their
inspection," said Michael Ziering, CEO of DPC. "Although the
domestic business grew at 10%, we were below our plan, but I'm very
encouraged with a number of contracts that will be coming on line
over the next couple of months." The Company shipped a total of 209
IMMULITE Instruments in the first quarter including 139 IMMULITE
2000s and 2500's. The total number of IMMULITEs shipped is now over
10,000. Diagnostic Products Corporation (DPC), founded in 1971, is
the global leader dedicated primarily to immunodiagnostics. DPC
designs and manufacturers automated laboratory instrumentation,
which provides fast, accurate results while reducing labor and
reagent costs. DPC's product menu includes a large variety of
immunoassays covering a broad range of clinical disease states
including over 360 specific allergens and allergy panels. Through
partnerships with manufacturers of chemistry systems and reagents,
DPC also addresses the chemistry and laboratory automation testing
needs of its customers. DPC sells its products to hospitals,
clinics and laboratories domestically and in more than 100
countries. DPC is committed to delivering to customers the highest
quality products with superior service and support. The turquoise
zebra icon symbolizes DPC's uniqueness in the immunodiagnostic
industry as "a company that stands out." Additional Company
information can be found on the Company's web site at
www.dpcweb.com. Except for the historical information contained
herein, this press release contains forward- looking statements
that involve risks and uncertainties that could cause actual
results to differ materially. These factors include the effects of
governmental and other actions relating to the FDA's decision that
its Application Integrity Policy should be applied to the Company
or relating to the Company's Chinese affiliate; the rate of
customer demand for the Company's products; the Company's ability
to successfully market new and existing products; its dependence on
certain suppliers; domestic and foreign government regulation; its
ability to keep abreast of technological innovations and to
translate them into new products; competition; political and
economic instability in certain markets, including the movements of
foreign currencies relative to the dollar; and other risks and
uncertainties disclosed from time to time in the Company's SEC
reports and filings. -0- *T DIAGNOSTIC PRODUCTS CORPORATION AND
SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (Amounts in
Thousands, Except Per Share Data) Three Months Ended March 31,
------------------ 2005 2004 --------- -------- SALES:
Non-Affiliated Customers $107,063 $96,974 Unconsolidated Affiliates
5,848 9,109 --------- -------- Total Sales 112,911 106,083 COST OF
SALES 46,738 46,022 --------- -------- Gross Profit 66,173 60,061
OPERATING EXPENSES: Selling 20,611 18,727 Research and Development
12,266 11,424 General and Administrative 12,556 9,665 Equity in
Income of Affiliates (2,553) (2,130) --------- -------- OPERATING
EXPENSES-NET 42,880 37,686 --------- -------- OPERATING INCOME
23,293 22,375 Interest/Other Income (Expense)-Net 174 (369)
--------- -------- INCOME BEFORE INCOME TAXES AND MINORITY INTEREST
23,467 22,006 PROVISION FOR INCOME TAXES 6,993 6,602 MINORITY
INTEREST 340 (53) --------- -------- NET INCOME $16,134 $15,457
========= ======== EARNINGS PER SHARE: BASIC $0.55 $0.53 DILUTED
$0.54 $0.52 WEIGHTED AVERAGE SHARES OUTSTANDING: BASIC 29,274
28,972 DILUTED 30,105 29,944 (unaudited) *T
Grafico Azioni Diagnostic Products (NYSE:DP)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Diagnostic Products (NYSE:DP)
Storico
Da Set 2023 a Set 2024