E. Brennan, Chairman & Chief Executive Officer
Arthur L. Herbst,
Jr., President & Chief Financial Officer
Innovations, Inc. Announces Record EPS for the Year
St. Louis, MO., February 3, 2010
– Young Innovations, Inc. (NASDAQ –YDNT) today announced record earnings
per share for the year ended December 31, 2009.
the fourth quarter of 2009 were $24.5 million, an increase of $0.6 million, or
2.5%, from the $23.9 million reported in the fourth quarter of
2008. Income from operations increased 13.9% from $4.8 million in the
fourth quarter of 2008 to $5.5 million in the fourth quarter of
2009. Net income increased 13.5% to $3.5 million, compared with $3.1
million in the fourth quarter of 2008. Diluted earnings per share
increased 10.0% in the fourth quarter of 2009 to $0.44 from $0.40 in the prior
year quarter. Diluted earnings per share were affected by equity
compensation expense of $0.04 and $0.03 for the quarters ended December 31, 2009
and 2008, respectively.
the year ended December 31, 2009 were $97.7 million, down 1.4% from $99.1
million in the prior year. Income from operations increased 9.0% from
$19.8 million in 2008 to $21.5 million in 2009. Net income for fiscal
year 2009 was $13.5 million, up 10.7% from $12.2 million in the prior
year. Diluted earnings per share were $1.69 for the twelve months
ended December 31, 2009, an increase of 11.9% from $1.51 in
2008. Diluted earnings per share were affected by equity compensation
expense of $0.14 and $0.11 for 2009 and 2008, respectively.
demand for our consumable products, which include preventive, infection control,
endodontic, micro-applicator and home care product lines, helped increase sales
in the fourth quarter of 2009. Sales of our diagnostic product line declined
from the prior year quarter, though at a slower rate than the past few quarters.
Gross and operating margins benefited in the fourth quarter from a combination
of price increases, favorable product mix, and improved operating efficiencies.
Sales for the quarter received a minimal foreign exchange benefit, while for the
year, a stronger U.S. dollar negatively impacted sales by approximately
the fourth quarter, we added sales staff at a majority of our product lines in
an effort to expand and enhance customer relationships. Work to increase
operating efficiencies included improving manufacturing productivity,
implementation of software enhancements and ongoing consolidation work.
Continued focus on new product development led to additions to our preventive
product line as well as additional infection control products to be launched in
the first quarter of 2010.
we are pleased with our ability to achieve growth in earnings throughout the
year. We believe our investments to strengthen the company over the last few
years have us well-positioned to take advantage of future growth
conference call has been scheduled for Thursday, February 4, 2010 at 11:00 a.m.
Central Time and can be accessed through InterCall at http://tinyurl.com/yi4q09
or on the Company’s website, www.ydnt.com.
Innovations develops, manufactures and markets supplies and equipment used by
dentists, dental hygienists, dental assistants and consumers. The Company's
product offering includes disposable and metal prophy angles, prophy cups and
brushes, dental micro-applicators, panoramic X-ray machines, moisture control
products, infection control products, dental handpieces (drills) and related
components, endodontic systems, orthodontic toothbrushes, flavored examination
gloves, children's toothbrushes, and children's toothpastes. The Company
believes it is a leading U.S. manufacturer or distributor of prophy angles and
cups, liquid surface disinfectants, dental micro-applicators and obturation
units designed for warm, vertical condensation.
are cautioned that this press release as well as other reports and oral
statements by Company officials may contain certain forward-looking statements
as defined in the Private Securities Litigation and Reform Act of
1995. Forward-looking statements include statements which are
predictive in nature, which depend upon or refer to future events or conditions
and which include words such as “expects,” “anticipates,” “intends,” “plans,”
“believes,” “estimates,” or similar expressions. These statements are
not guaranties of future performance and the Company makes no commitment to
update or disclose any revisions to forward-looking statements, or any facts,
events or circumstances after the date hereof that may bear upon forward-looking
statements. Because such statements involve risks and uncertainties,
actual actions and strategies and the timing and expected results thereof may
differ materially from those expressed or implied by such forward-looking
statements. These risks and uncertainties include, but are not
limited to, those disclosed in the Company’s Annual Report on Form 10-K and
other reports filed with the Securities and Exchange Commission.