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Theragenics Reports Revenue and Earnings for the Second Quarter and First Half of 2012
Highest Quarterly and First Half Revenue Ever
BUFORD, Ga.--(BUSINESS WIRE)--August 9, 2012--Theragenics Corporation® (NYSE: TGX), a medical device company serving the surgical products and prostate cancer treatment markets, today announced consolidated financial results for the second quarter ended June 30, 2012.
- $22.0 million for the second quarter of 2012, up 2% over 2011
- $43.5 million for the first half of 2012, up 4% over 2011
- Surgical products revenue up 3% in second quarter over 2011 and up 5% for the first half of 2012
- Brachytherapy revenue up 1% in second quarter over 2011 and up 3% for the first half of 2012
- Incremental revenue in Brachytherapy segment from acquired Core customers was $1.2 million in the second quarter of 2012 and $1.8 million for the first half of 2012
Earnings per share
- $0.02 in the second quarter of 2012 compared to $0.04 in 2011
- $0.05 for the first half of 2012 compared to $0.05 in 2011
- $3.7 million in the second quarter of 2012 compared to $4.0 million in 2011
- $7.5 million for the first half of 2012 compared to $6.8 million in 2011
- Pursuant to our modified Dutch Auction tender offer, we repurchased 4,761,904 common shares on July 17, 2012 for an aggregate purchase price of $10.0 million. Total cost including transaction costs was approximately $10.4 million.
At June 30, 2012, cash, cash equivalents and marketable securities
were $38.7 million and credit facility borrowings were $22.0
million, resulting in a net positive position of $16.7 million.
- Cash flow from operations was $4.9 million for the first half of 2012, compared to $3.4 million in 2011.
$4.8 million in cash was used in the first half of 2012 for
the Core transaction, which closed in February 2012.
- Another $4.6 million is expected to be paid through September 2013 for remaining payments on this earn-out based asset acquisition.
- Capital expenditures were $982,000 in the first half of 2012.
- $1.7 million of principal payments were made on the term loan in the first half of 2012. At June 30, 2012 the term loan was completely paid in full. Our $30 million line of credit facility matures on October 31, 2012.
- On a pro forma basis, assuming our Dutch Auction share repurchase was completed on June 30, 2012, our net positive position was $6.3 million.
- At June 30, 2012, cash, cash equivalents and marketable securities were $38.7 million and credit facility borrowings were $22.0 million, resulting in a net positive position of $16.7 million.
The following information was filed by Theragenics Corp (TGX) on Thursday, August 9, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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