Hamilton Thorne Reports Financial and Operational Results for the Quarter and Nine Months Ended September 30, 2020

Nachrichtenquelle: globenewswire
19.11.2020, 14:10  |  104   |   |   

BEVERLY, Mass. and TORONTO, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Hamilton Thorne Ltd. (TSX-V:HTL), a leading provider of precision instruments, consumables, software and services to the Assisted Reproductive Technologies (ART), research, and cell biology markets, today reported unaudited financial and operational results for the quarter and nine months ended September 30, 2020.

Highlights

  • Sales increased 10% year over year to $9.8 million for the quarter; sales for the nine-month period increased 12% to $27.5 million; constant currency increase of 8% for the quarter and 13% for the nine-month period
  • Gross profit increased 3% year over year to $4.9 million for the quarter; increased 8% to $12.9 million for the nine-month period
  • Net income increased 41% to $459 thousand for the quarter; net income of $10 thousand for the nine-month period versus a loss in the prior period
  • Adjusted EBITDA decreased 8% to $1.7 million for the quarter; decreased 16% to $4.1 million for the nine-month period
  • Sales declined 7% in USD on an organic basis and were down 9% in constant currency; sales declined 6% on an organic basis for the nine-month period in USD; 5% decline in constant currency
  • Cash generated from operations was $2.8 million for the quarter and $2.0 million for the nine-month period; total cash on hand at September 30, 2020 was $19.98 million

“We are pleased to report a substantial improvement in Company performance in the third quarter,” stated David Wolf, President and Chief Executive Officer. “Sales into the human clinical market were up for the three-month period and up for the nine-month period as, despite the effects of the Covid-19 pandemic, ART activity in our two largest markets, the US and Germany, returned to near-normal levels, along with expanded contribution from our Planer acquisition. Sales into the human clinical market in the third quarter were also positively affected as production delays in our incubator product line that we experienced in Q2 were resolved. Sales into the cell biology/research markets grew substantially during the three- and nine-month periods, primarily due to the contribution from the Planer acquisition, augmented by strong toxicology testing equipment sales. Sales into the animal breeding market were down for both periods after a strong performance in Q2.”

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Hamilton Thorne Reports Financial and Operational Results for the Quarter and Nine Months Ended September 30, 2020 BEVERLY, Mass. and TORONTO, Nov. 19, 2020 (GLOBE NEWSWIRE) - Hamilton Thorne Ltd. (TSX-V:HTL), a leading provider of precision instruments, consumables, software and services to the Assisted Reproductive Technologies (ART), research, and cell …

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