Krakauer continued, "The diversity of Cantel's product portfolio within Infection Prevention and Control and our focus on growing consumables and service revenue, supported by a large base of installed equipment, have benefited our consolidated results during the quarter and for the full 2009 fiscal year. Excluding the Dialysis segment, where sales of low margin dialysate concentrate fell as expected, revenue growth for the full fiscal year was 7.6%. Despite difficult economic conditions during the year, all of our reporting segments showed good growth in earnings resulting from a favorable sales mix, the implementation of price increases, success from new product introductions, benefits derived from sales and marketing investments, and ongoing cost improvement programs. Additionally, our earnings were positively impacted from reduced interest expenses. We remain optimistic that our strong momentum will continue into fiscal year 2010, and we plan to accelerate our new product development efforts, continue investing in sales and marketing (including our alternative channel programs) and aggressively seek strategic acquisitions to improve our revenue growth rate and operating margins in fiscal year 2011 and beyond."

The Company further reported that its balance sheet at July 31, 2009 included current assets of $88,910,000, including cash of $23,368,000, a current ratio of 2.3:1, gross debt of $43,300,000, stockholders' equity of $187,116,000 and a ratio of gross debt to EBITDAS of 1.0. Krakauer stated, "The Company has a strong balance sheet and continues to generate significant cash flow. Our cash provided by operating activities was $9,699,000 for the fourth quarter and $30,992,000 for the full year. We have halved our net debt position in fiscal 2009 to $19,932,000, including a reduction of over $7 million in the fourth quarter, even after funding more than $4 million to acquire G.E.M. Water Systems."

SOURCE Cantel Medical Corp.