Cantel Medical Corp (CMN) SEC Filing 10-K Annual report for the fiscal year ending Sunday, July 31, 2016

Exhibit 99.1

MEDIA RELEASE  ·  MEDIA RELEASE  ·  MEDIA RELEASE

CANTEL MEDICAL REPORTS RECORD RESULTS FOR THE

FOURTH QUARTER ENDED JULY 31, 2016

·                  Reported fourth quarter sales growth of 18.3%

·                  Delivered organic sales growth of 12.4%

·                  Reported US GAAP EPS of $0.39 vs. $0.32

·                  Achieved non-GAAP EPS of $0.48 vs. $0.39

·                  Reported US GAAP net income growth of 22.7%

·                  Delivered non-GAAP net income growth of 25.5%

·                  Achieved record full fiscal year sales and earnings

LITTLE FALLS, New Jersey (September 29, 2016) ... CANTEL MEDICAL CORP. (NYSE:CMN) reported record US GAAP net income of $16,291,000, or $0.39 per diluted share, on an 18.3% increase in sales to a record $179,002,000 for the fourth quarter ended July 31, 2016. This compares with net income of $13,273,000, or $0.32 per diluted share, on sales of $151,255,000 for the fourth quarter ended July 31, 2015. For the full fiscal year ended July 31, 2016, the Company reported record US GAAP net income of $59,953,000, or $1.44 per diluted share, on a 17.7% increase in sales to a record $664,755,000. This compares with net income of $47,953,000 or $1.15 per diluted share on sales of $565,004,000 for the fiscal year ended July 31, 2015.

Non-GAAP net income increased 25.5% for the fourth quarter ended July 31, 2016 to $20,162,000, or $0.48 per diluted share, compared with non-GAAP net income of $16,060,000, or $0.39 per diluted share for the same quarter last year.  For the full fiscal year ended July 31, 2016, the Company reported a 21.5% increase in non-GAAP net income to $72,938,000, or $1.75 per diluted share. This compares with non-GAAP net income for the full fiscal year ending July 31, 2015 of $60,039,000, or $1.44 per diluted share.

Jørgen B. Hansen, Cantel’s President and Chief Executive Officer stated, “We are pleased to report record sales and earnings performance this quarter.  Our 18.3% reported sales growth derives from strong organic growth of 12.4%, a 0.1% decline due to foreign currency translation, with acquisitions making up the remaining 6.0%. The majority of this quarter’s strong performance was driven by the Endoscopy business. All three of our major business units have benefited from significant investments in new product development, sales expansion and marketing programs as well as the integration of recent acquisitions. We are also pleased to report a gross margin of 47.7% which improved approximately 220 basis points compared with the same quarter last year. This was driven by improvement in product mix as well as our continuous improvement efforts.”

Hansen added, “Our Endoscopy segment led sales growth for the Company this quarter with a significant year-over-year increase of 38.2%, of which 28.5% was organic. All product categories in this segment were strong including procedure room products, reprocessing equipment, chemical disinfectants, as well as service and