Atrion Q1 revenue up 18% to $47.3M; EPS falls to $1.59 on inventory write-off

ATRION CORP

2024-Q1 EPS reported $1.59 revenue$47,334,000

Revenue of $47.3M vs $40.0M YoY; net income $2.8M vs $3.5M; diluted EPS $1.59 vs $1.98.
Operating income of $3.1M includes $2.3M one-time inventory write-off; excluding write-off, operating income up 22%.
GAAP gross margin 26.1%, adjusted to 31.0% vs 37.7% due to under-absorption from halted production lines and product mix.
Record MPS 3 console sales drove revenue growth; management expects normal production levels by Q3 2024 and improved margins.
Cash and investments $18.7M; no debt; investment portfolio weakness also contributed to net income decline.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

ATRION CORP reported first quarter ended March 31, 2024 results: revenue $47.3 million, net income $2.8 million, EPS $1.59.

Period: first quarter ended March 31, 2024
Revenue: $47.3 million
Net income: $2.8 million
EPS: $1.59
Result: reported results

Exact text from the filing

Atrion Reports First Quarter 2024 Results ALLEN, Texas, May 10, 2024 (GLOBE NEWSWIRE) -- Atrion Corporation (NASDAQ: ATRI) today announced its results for the first quarter ended March 31, 2024. Revenues for the first quarter of 2024 totaled $47.3 million compared to $40.0 million for the same period in 2023. For the just ended quarter, operating income was $3.1 million, down $1.3 million from the comparable 2023 period, primarily due to a one-time inventory write-off, and net income was $2.8 million, down $0.7 million from the same period in 2023. First quarter 2024 diluted earnings per share were $1.59 compared to $1.98 for the first quarter of 2023.

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Source: SEC EDGAR

accession 0001171843-24-002766

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