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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Synovis Life Technologies, Inc. (MM) | NASDAQ:SYNO | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 28.01 | 0 | 01:00:00 |
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FROM: | FOR: |
Padilla Speer Beardsley Inc. | Synovis Life Technologies, Inc |
1101 West River Parkway | 2575 University Ave. West |
Minneapolis, Minnesota 55415 | St. Paul, Minnesota 55114 |
CONTACTS: | CONTACTS: |
Nancy A. Johnson / Marian Briggs | Richard Kramp, President and CEO |
(612) 455-1745 / (612) 455-1742 | Brett Reynolds, CFO |
(651) 796-7300 |
Three Months Ended
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Twelve Months Ended
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October 31,
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October 31,
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2011
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2010
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2011
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2010
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Net revenue
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$ | 22,053 | $ | 18,116 | $ | 82,363 | $ | 68,565 | ||||||||
Cost of revenue
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5,874 | 5,026 | 22,343 | 19,025 | ||||||||||||
Gross margin
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16,179 | 13,090 | 60,020 | 49,540 | ||||||||||||
Gross margin percentage
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73 | % | 72 | % | 73 | % | 72 | % | ||||||||
Selling, general and administrative expenses
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10,955 | 9,554 | 42,949 | 37,812 | ||||||||||||
Research and development expenses
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1,065 | 1,296 | 4,709 | 4,393 | ||||||||||||
Operating expenses
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12,020 | 10,850 | 47,658 | 42,205 | ||||||||||||
Operating income
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4,159 | 2,240 | 12,362 | 7,335 | ||||||||||||
Interest income
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83 | 73 | 311 | 284 | ||||||||||||
Income before provision for income taxes
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4,242 | 2,313 | 12,673 | 7,619 | ||||||||||||
Provision for income taxes
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1,527 | 833 | 4,212 | 2,743 | ||||||||||||
Net income
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$ | 2,715 | $ | 1,480 | $ | 8,461 | $ | 4,876 | ||||||||
Basic earnings per share
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$ | 0.24 | $ | 0.13 | $ | 0.74 | $ | 0.43 | ||||||||
Diluted earnings per share
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$ | 0.24 | $ | 0.13 | $ | 0.73 | $ | 0.43 | ||||||||
Weighted average shares outstanding - basic
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11,344 | 11,284 | 11,381 | 11,262 | ||||||||||||
Weighted average shares outstanding - diluted
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11,486 | 11,449 | 11,571 | 11,441 |
Three Months Ended
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Twelve Months Ended
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October 31,
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October 31,
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2011
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2010
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2011
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2010
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Peri-Strips
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$ | 6,614 | $ | 5,153 | $ | 23,675 | $ | 19,414 | ||||||||
Tissue-Guard
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4,970 | 4,221 | 18,407 | 16,550 | ||||||||||||
Veritas
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3,956 | 3,661 | 15,829 | 14,368 | ||||||||||||
Microsurgery
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4,326 | 3,123 | 15,190 | 11,020 | ||||||||||||
Orthopedic and Wound
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752 | 685 | 3,514 | 1,878 | ||||||||||||
Surgical tools and other
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1,435 | 1,273 | 5,748 | 5,335 | ||||||||||||
Total Revenue
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$ | 22,053 | $ | 18,116 | $ | 82,363 | $ | 68,565 | ||||||||
Domestic
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$ | 18,675 | $ | 15,247 | $ | 70,130 | $ | 57,700 | ||||||||
International
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3,378 | 2,869 | 12,233 | 10,865 | ||||||||||||
Total Revenue
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$ | 22,053 | $ | 18,116 | $ | 82,363 | $ | 68,565 |
October 31,
2011
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October 31,
2010
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ASSETS
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Current assets:
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Cash and cash equivalents
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$ | 18,013 | $ | 12,951 | ||||
Short-term investments
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41,203 | 41,119 | ||||||
Accounts receivable, net
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11,262 | 8,701 | ||||||
Inventories
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9,998 | 9,433 | ||||||
Deferred income tax asset, net
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447 | 367 | ||||||
Other current assets
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1,973 | 1,715 | ||||||
Total current assets
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82,896 | 74,286 | ||||||
Investments, net
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7,335 | 7,854 | ||||||
Property, plant and equipment, net
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4,154 | 3,401 | ||||||
Goodwill
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3,620 | 3,620 | ||||||
Other intangible assets, net
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5,764 | 6,182 | ||||||
Deferred income tax asset, net
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2,166 | 2,139 | ||||||
Total assets
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$ | 105,935 | $ | 97,482 | ||||
LIABILITIES AND SHAREHOLDERS’ EQUITY
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Current liabilities:
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Accounts payable
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$ | 2,235 | $ | 1,644 | ||||
Accrued expenses
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7,780 | 6,371 | ||||||
Total current liabilities
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10,015 | 8,015 | ||||||
Total liabilities
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10,015 | 8,015 | ||||||
Shareholders’ equity:
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Preferred stock: authorized 5,000,000 shares of $.01 par value; none issued or outstanding at both dates
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--- | --- | ||||||
Common stock: authorized 20,000,000 shares of $.01 par value; issued and outstanding 11,167,690 and 11,228,654 at October 31, 2011 and October 31, 2010, respectively
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112 | 112 | ||||||
Additional paid-in capital
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59,832 | 61,780 | ||||||
Accumulated other comprehensive (loss) income
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(34 | ) | 26 | |||||
Retained earnings
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36,010 | 27,549 | ||||||
Total shareholders’ equity
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95,920 | 89,467 | ||||||
Total liabilities and shareholders’ equity
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$ | 105,935 | $ | 97,482 |
For the fiscal years ended October 31,
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2011
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2010
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CASH FLOWS FROM OPERATING ACTIVITIES:
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Net income
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$ | 8,461 | $ | 4,876 | ||||
Adjustments to reconcile net income to net cash provided by operating activities:
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Depreciation and amortization of property, plant and equipment
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1,154 | 1,228 | ||||||
Amortization of intangible assets
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734 | 782 | ||||||
Amortization of investment premium, net
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1,263 | 1,626 | ||||||
Provision for uncollectible accounts
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250 | 204 | ||||||
Stock-based compensation
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1,231 | 1,455 | ||||||
Tax benefit from stock option exercises
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(522 | ) | (296 | ) | ||||
Loss on sale or disposal of property, plant and equipment
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25 | 192 | ||||||
Deferred income taxes
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(107 | ) | (117 | ) | ||||
Changes in operating assets and liabilities:
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Accounts receivable
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(2,811 | ) | (1,980 | ) | ||||
Inventories
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(565 | ) | (1,709 | ) | ||||
Other current assets
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(258 | ) | 40 | |||||
Accounts payable
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591 | (318 | ) | |||||
Accrued expenses
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1,931 | 920 | ||||||
Net cash provided by operating activities
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11,377 | 6,903 | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES:
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Purchase of property, plant and equipment
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(1,932 | ) | (1,102 | ) | ||||
Investments in identifiable intangible assets
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(316 | ) | (125 | ) | ||||
Purchases of investments
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(51,116 | ) | (79,397 | ) | ||||
Redemptions of investments
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50,228 | 73,618 | ||||||
Net cash used in investing activities
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(3,136 | ) | (7,006 | ) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES:
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Net proceeds related to stock-based compensation plans
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3,879 | 1,996 | ||||||
Repurchase of the Company's common stock
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(7,580 | ) | (5,101 | ) | ||||
Excess tax benefit of stock option exercises
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522 | 296 | ||||||
Net cash used in financing activities
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(3,179 | ) | (2,809 | ) | ||||
Net change in cash and cash equivalents
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5,062 | (2,912 | ) | |||||
Cash and cash equivalents at beginning of year
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12,951 | 15,863 | ||||||
Cash and cash equivalents at end of year
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$ | 18,013 | $ | 12,951 |
1 Year Synovis Life Technologies, Inc. (MM) Chart |
1 Month Synovis Life Technologies, Inc. (MM) Chart |
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