Cantel Medical (NYSE:CMD) shares ticked up today on third-quarter financial results that came in ahead of the consensus forecast.
The Little Falls, N.J.-based company posted profits of $15.8 million, or 37¢ per share, on sales of $236.9 million for the three months ended April 30, 2020, for a 93.1% bottom-line gain on sales growth of 3.7%.
Adjusted to exclude one-time items, earnings per share were 16¢, 4¢ ahead of Wall Street, where analysts were looking for sales of $235.4 million.
Cantel Medical said in a news release that a decline in organic sales came as a result of the reduction of elective procedures caused by the COVID-19 pandemic, which mostly affected the last five weeks of the third quarter. Adjusted earnings per share dropped from 55¢ in the third quarter of 2019 in a trend that was driven by the effects of the pandemic.
The company said its medical and dental segments were primarily impacted, although most impacts were offset by a fa…