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- Quarterly Sales Increase 26%, Net Income Rises 145% On Combination of Strong Internal Growth and Positive Currency Effects -
February 18, 1998 07:55 AM
SAN DIEGO, Feb. 18 /PRNewswire/ -- Safeskin Corporation SFSK , a leading developer and manufacturer of high-quality, powder-free, disposable latex and synthetic gloves for the healthcare, high-technology and scientific industries, today reported record sales and earnings for its fourth quarter and fiscal year ended December 31, 1997.
Fourth Quarter 1997
Net quarterly sales rose to $50.0 million, an increase of 26 percent above the prior year's quarterly sales of $39.6 million.
Net income for the quarter increased 145 percent to $12.0 million, or $.40 per share, of which $.04 per share related to the
after tax effects of foreign currency exchange. This compares to $4.9 million, or $.17 per share in the same period a year earlier
which included a one-time charge of $3.0 million associated with the Company's plans to relocate its latex examination glove
production from Malaysia to its facility in Thailand. Excluding this charge, net income and earnings per share in the year ago period
would have been $7.9 million and $.27, respectively. |
