National Dentex (NASDAQ:NADXE)
Historical Stock Chart
From Jun 2019 to Jun 2024
![Click Here for more National Dentex Charts. Click Here for more National Dentex Charts.](/p.php?pid=staticchart&s=N%5ENADXE&p=8&t=15)
National Dentex Corporation (NASDAQ: NADXE), one of the
largest owner/operators of dental laboratories in the United States,
today announced its results for the first quarter ended March 31,
2005. For the quarter, the Company reported $31,946,000 in sales with
net income of $1,779,000 or $.32 per share on a diluted basis. Sales
for the same quarter of the prior fiscal year were $27,928,000 with
net income of $1,581,000 or $.29 per share on a diluted basis.
David Brown, President and CEO, commented: "We are pleased to
announce the results of the first quarter of 2005. The combination of
slightly improved internal growth and the acquisition of two
outstanding laboratories within the quarter, Wornson-Polzin in
Mankato, Minnesota on February 1 and Green Dental in Heber Springs,
Arkansas on March 1, produced a 14.4% increase in sales versus the
first quarter of 2004. This growth, coupled with our continued focus
on cost controls, particularly labor and related benefits, resulted in
a 16.6% increase in laboratory operating income and a 12.5% increase
in net income. We continue to believe that through our Reliance(TM)
program we have distinguished ourselves as a true value-added resource
to our dentist partners. Continued growth and profitability
improvements should result from a combination of an increased focus on
meeting our customer's needs, an active and effective acquisition
program and an emphasis on cost containment in a challenging
regulatory environment. As we look forward to the remainder of 2005,
we remain as enthusiastic as ever in our ability to improve in these
areas and build sustained and profitable growth for National Dentex
and its shareholders."
National Dentex Corporation serves an active customer base of over
22,000 dentists through dental laboratories located in 30 states.
National Dentex's dental laboratories provide a full range of
custom-made dental prosthetic appliances.
This press release contains forward-looking statements within the
meaning of the federal securities laws, including statements regarding
our future financial performance, acquisition activity, and
marketplace competitiveness, that are based on our current
expectations, beliefs, assumptions, estimates, forecasts and
projections about the industry and markets in which National Dentex
operates. The statements contained in this release are not guarantees
of future performance and involve certain risks, uncertainties and
assumptions that are difficult to predict. Therefore, actual outcomes
and results may differ materially from what is expressed in such
forward-looking statements. Important factors that may affect future
operating and financial results include the timing, duration and
effects of adverse changes in overall economic conditions, the
Company's ability to acquire and successfully operate additional
laboratories, governmental regulation of health care, trends in the
dental industry towards managed care, increases in labor, benefits and
material costs, product development risks, technological innovations,
and other risks indicated from time to time in the Company's filings
with the Securities and Exchange Commission.
-0-
*T
National Dentex Corporation
Earnings Results
(In Thousands, except per share data)
Quarter Ended
March 31,
(Unaudited)
-----------------
2004 2005
-------- --------
Net Sales $27,928 $31,946
Cost of Goods Sold 16,330 18,018
-------- --------
Gross Profit 11,598 13,928
Operating Expenses 8,885 10,764
-------- --------
Operating Income 2,713 3,164
Other Expense 66 128
Interest Expense 11 71
-------- --------
Income Before Tax 2,636 2,965
Income Taxes 1,055 1,186
-------- --------
Net Income $1,581 $1,779
======== ========
Weighted Average Shares Outstanding:
- Basic 5,152 5,272
- Diluted 5,381 5,557
Net Income per Share:
- Basic $0.31 $0.34
- Diluted $0.29 $0.32
All references to number of shares and per share amounts have been
adjusted for the three-for-two stock split effective on December 31,
2004
National Dentex Corporation
Selected Balance Sheet Data
(In thousands)
March 31,
December 31, 2005
2004 (Unaudited)
----------------- --------------
Cash and Equivalents $2,216 $2,327
Accounts Receivable - net 12,992 15,933
Current Assets 23,527 27,144
Current Liabilities 9,777 15,517
----------------- --------------
Working Capital $13,750 $11,627
Total Assets 81,831 114,203
Long Term Liabilities 5,171 29,801
Stockholders' Equity $66,883 $68,885
*T