Minneapolis, MN (PRWEB) August 25, 2014
MOCON, Inc. (NASDAQ: MOCO) now reported sales of $ 13.7 million for the next quarter ended June 20, 2014, an heighten of 4 % compared to $ 13.2 million for the same quarter inside 2014. The web money for the next quarter was $ 802,000, or $ 0.14 per diluted share, compared to a web reduction of $ 142,000 or ($ 0.03) per diluted share, inside the next quarter of 2014. Six-month sales totaled $ 28.1 million, an heighten of 26 % compared to $ 22.4 million throughout the initial six months of 2014. Net money plus diluted earnings per share were $ 1.7 million plus $ 0.29, respectively, for the initial half of 2014, compared to $ 679,000 plus $ 0.12 for the same period inside 2014. Year-to-date amounts for 2014 included just 3 months of Dansensors results, that was acquired inside April 2014.
The sales heighten inside the present quarter compared to the same quarter inside 2014 was attributable mainly to the Industrial Analyzers plus Other segment, that recorded a 23 % heighten inside profits. This heighten was driven by sales of ecological monitoring instruments due to improved regulatory concerns plus sales of instruments for oil plus fuel exploration, generally inside the Middle East. Sales inside the Permeation plus Package Testing segments were similar to the before year next quarter.
The company-wide gross margin of 56 % inside the 2nd quarter 2014 was somewhat lower than the companys famous degrees, though was an improvement within the before year 2nd quarter margin of 48 %. The lower than expected percentage inside the present quarter was due basically to a shift inside product blend to a high percentage of the package testing instruments, that traditionally carry lower margins. The lower than usual margin inside the before year 2nd quarter was due to buy accounting changes which were necessary inside connection with all the Dansensor purchase. Selling, general plus administrative expenses inside the active quarter are somewhat high compared to the same period last year mainly due to high wage plus benefit fees. Our powerful taxes rate of 3 % inside the active quarter was greatly lower than famous degrees due to a change inside the money taxes rates inside Denmark that enabled for a discrete positive change of $ 258,000 to money taxes cost inside the 2nd quarter 2014.
We are encouraged by the truth which the global sales improved 13 % inside the active quarter compared to last year, because both Europe plus Asia showed sturdy improvement. Our domestic sales inside the present quarter were lower than last year however, nevertheless ahead about a year-to-date basis, mentioned Robert L. Demorest, MOCON President plus CEO. While you are pleased with the top line performance for the initial six months this year, you are committed to improving the bottom line by striving to strengthen the gross margins plus reducing the overhead expenses because a percentage of profits.
MOCON is a leading provider of detectors, instruments, systems plus contacting services to analysis laboratories, manufacturing facilities, plus standard control plus protection departments inside the healthcare, pharmaceutical, food plus drink, packaging, ecological, oil plus fuel plus alternative industries internationally. See http://www.mocon.com to acquire more information.
This hit launch contains forward-looking statements which are prepared pursuant to the secure harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements which is diagnosed by words including will, could, anticipate, believe, anticipate, estimate, continue, or different synonymous expressions. All forward-looking statements talk just because of the date of the click launch. MOCON undertakes no obligation to update or change any forward-looking statement, whether because a outcome of brand-new info, future occasions or otherwise. Additionally to the dangers plus uncertainties of average company operations plus conditions inside the general economy as well as the markets inside that the organization competes, there are significant factors which might result actual results to vary materially from those expected by the forward-looking statements created inside this hit launch. These factors include, yet are not limited to, the integration plus performance of Dansensor, the ability to effectively upgrade the ERP program, the terms of the credit agreement including financial covenants included therein, competition plus technological change, setbacks inside product development programs, purchase cancellations, dependence about certain key industries, plus additional factors set forth inside the companys Annual Report about Form 10-K for the year ended December 31, 2014 plus additional documents MOCON files with or furnishes to the Securities plus Exchange Commission.
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