GLENWOOD, Ill., Aug. 8, 2016 /PRNewswire/ -- Landauer,
Inc. (NYSE: LDR), a recognized leader in personal and
environmental radiation measurement and monitoring and outsourced
medical physics services, today reported financial results for its
fiscal 2016 third quarter ended June 30,
2016.
Fiscal 2016 Third Quarter Highlights
- Reported revenue of $37.9 million
increased 6.8% compared to the third quarter of 2015. Excluding the
divested Medical Products and Radon businesses and the negative
impact of foreign currency, revenue increased 15.2% compared to the
prior year period
- Military product sales were $2.5
million
- Medical Physics revenues grew 7.9% year-over-year
- Reported operating income of $7.7
million, a 50.9% increase compared to the third quarter of
2015. Excluding the divested Medical Products and Radon
businesses and negative impact of foreign currency, operating
income increased 58.3% compared to the prior year period
- Consolidated operating income margin improved to 20.4% from
14.4% in the third quarter of 2015 driven by the shipment of
military product and a decrease in selling, general and
administrative expenses
- Net income of $7.3 million
compared to $4.1 million in the third
quarter of 2015
- Increase in net income driven by $2.7
million post-tax gain on divestiture of the Medical Products
business
- Adjusted net income excluding stock compensation and other
nonrecurring costs increased to $5.6
million from $4.5 million in
the third quarter of 2015
- On a GAAP basis, earnings per diluted share of $0.76
- Adjusted earnings per diluted share of $0.58
Mike Kaminski, President and
Chief Executive Officer of Landauer stated, "We are pleased with
our third quarter results, which demonstrate effective execution on
our key initiatives as we continue to build a strong foundation
from which we will profitably expand our core business.
Demand for our imaging physics and informatics solutions continues
to drive increased recurring revenue and our lean initiatives are
creating additional leverage – leading to greater levels of
profitability. We also made significant progress on the
development of our Verifii digital dosimetry platform, passing a
number of key technical milestones and beginning our initial
rollout of customer field testing."
Third Fiscal Quarter Financial Overview and Business Segment
Results
Revenues for the third fiscal quarter of 2016 were $37.9 million, a 6.8% increase compared to
revenues of $35.5 million for the
third fiscal quarter of 2015. Excluding the divested Medical
Products and Radon businesses and negative impact of foreign
currency, total revenues increased 15.2% compared to the prior year
period. Radiation Measurement revenues for the quarter
increased to $27.5 million from
$24.1 million for the third fiscal
quarter of 2015 primarily due to the completion of the first
shipment of the military order that was announced in April.
Medical Physics revenues increased $0.7
million, or 7.9%, to $9.6
million, due to increased demand for imaging services.
Operating income for the third fiscal quarter of 2016 was
$7.7 million, compared to operating
income of $5.1 million for the third
fiscal quarter of 2015. Consolidated operating income margin
improved to 20.4% from 14.4% in the third fiscal quarter of
2015. Excluding the operating income from the divested
Medical Products and Radon businesses and negative impact of
foreign currency, operating income increased 58.3% compared to the
prior year period. These increased operating income results
were driven by a decrease in selling, general and administrative
expenses, as well as higher gross margins.
Fiscal Nine Months Financial Overview
Revenues for the first nine months of fiscal 2016 were
$112.5 million, a 1.2% increase
compared to $111.2 million for the
first nine months of fiscal 2015. Excluding the divested
Medical Products and Radon businesses and the negative impact of
foreign currency, total revenues increased 8.6% compared to the
prior year period. Domestic Radiation Measurement services
revenues increased 2.5%, and revenues in the Medical Physics
segment increased $2.9 million, or
11.2%, due to continued increased demand for imaging services.
Operating income for the first nine months of fiscal 2016 was
$21.2 million, a 25.5% increase
compared to operating income of $16.9
million for the first nine months of fiscal 2015. Excluding
the operating income from the divested Medical Products and Radon
businesses and negative impact of foreign currency, operating
income increased 43.8% compared to the prior year period. The
increase in operating income was driven by higher margin sales
coupled with a decrease in selling, general and administrative
expenses.
Fiscal 2016 Outlook
In order to reflect the divestiture of its Medical Products
business in May, the Company is providing updated guidance for
fiscal 2016. As communicated prior to the May 2016 divestiture of the Medical Products
business, the Company anticipated aggregate revenues for fiscal
2016 to be in the range of $150 million to
$157 million and adjusted net income in the range of
$15 million to $18 million. The
fiscal 2016 guidance included approximately $4.5 million of projected revenue and
$0.5 million of projected net income
for the divested Medical Products business from May 2016 to September 2016. The Company is
confirming its fiscal 2016 guidance, updated to reflect this
divestiture, and now anticipates full-year fiscal 2016 revenues to
be in the range of $145.5 million to $152.5
million and adjusted net income to be near the top end of
the range of $14.5 million to $17.5
million.
Use of Non GAAP Financial Measures
Management believes the disclosure of certain non-GAAP financial
measures enhances investor understanding of our financial
performance. Non-GAAP financial measures disclosed in this
report include: Adjusted EBITDA, Adjusted Net Income, Pro Forma
Revenue, Pro Forma Operating Income and Adjusted Earnings per
Diluted Share.
Adjusted EBITDA is presented here not as an alternative to net
income, but rather as a measure of the Company's operating
performance and is not intended to be a presentation in accordance
with GAAP. Since EBITDA (generally, net income plus interest
expenses, taxes, depreciation and amortization) is not calculated
identically by all companies, this presentation may not be
comparable to EBITDA or Adjusted EBITDA presentations disclosed by
other companies. Adjusted EBITDA represents net income with
adjustments for net financing costs, depreciation and amortization,
provision for income taxes, stock compensation expense, goodwill
and other intangible assets impairments, and acquisition,
reorganization and nonrecurring costs. Management believes that
Adjusted EBITDA is useful in evaluating the Company's operating
performance compared to that of other companies in its industry
because the calculation of Adjusted EBITDA generally eliminates the
effects of certain non-cash and other items that may vary for
different companies for reasons unrelated to overall operating
performance.
In addition, the Company's management used Adjusted Net Income
as a measure of earnings to eliminate the effects of certain
non-cash and nonrecurring items of the Company. Adjusted Net Income
and Adjusted Earnings per Diluted Share represents net income with
tax-effected adjustments for stock compensation expense, goodwill
and other intangible assets impairments and acquisition,
reorganization and nonrecurring costs.
The Pro Forma Revenue and Pro Forma Operating Income measures
exclude the Medical Products business, which was divested in
May 2016, and the Radon business,
which was divested in September 2015,
and the negative impact of foreign currency. As we operate in
various foreign countries where the local currency may strengthen
or weaken significantly versus the U.S. dollar or other currencies
used in operations, we utilize these pro forma measures as an
additional metric to evaluate the underlying performance of each
business without consideration of foreign currency movements.
These financial measures are not recognized measurements under
GAAP and should not be considered as an alternative to the most
directly comparable measures presented in accordance with GAAP. A
reconciliation of these non-GAAP measures to the most directly
comparable GAAP measures is included within this news release.
Conference Call Details
Landauer has scheduled its third quarter conference call for
investors over the Internet on Monday, August 8, 2016, at
4:00 p.m. Central Time (5:00 p.m. Eastern Time). To participate, callers
should dial 866-866-1542 (within the
United States and Canada),
or 707-294-1539 (international callers), passcode 59366075, about
10 minutes before the presentation. To listen to a webcast on the
Internet, please go to the Company's website at
http://www.landauer.com at least 15 minutes early to register,
download and install any necessary audio software. Investors may
access a replay of the call by dialing 855-859-2056 (within
the United States and Canada), or 404-537-3406 (international
callers), passcode 59366075, which will be available through
Wednesday, September 7, 2016. The
replay will also be available on Landauer's website for 30 days
following the call.
About Landauer
Landauer is a leading global provider of technical and
analytical services to determine occupational and environmental
radiation exposure, as well as the leading domestic provider of
outsourced medical physics services. For more than 50 years, the
Company has provided complete radiation dosimetry services to
hospitals, medical and dental offices, universities, national
laboratories, nuclear facilities and other industries in which
radiation poses a potential threat to employees. Landauer's
services include the manufacture of various types of radiation
detection monitors, the distribution and collection of the monitors
to and from customers, and the analysis and reporting of exposure
findings. The Company provides its dosimetry services to
approximately 1.8 million individuals globally. In addition,
through its Medical Physics segment, the Company provides
therapeutic and imaging physics services to the medical physics
community. For information about Landauer, please visit their
website at http://www.landauer.com.
Safe Harbor Statement
Some of the information shared here (including, in particular,
the section titled "Fiscal 2016 Outlook") constitutes
forward-looking statements that are based on assumptions and
involve certain risks and uncertainties. These include the
following, without limitation: assumptions, risks and uncertainties
associated with the Company's future performance; the Company's
development and introduction of new technologies in general; the
ability to protect and utilize the Company's intellectual property;
continued customer acceptance of the InLight technology; the
adaptability of optically stimulated luminescence (OSL) technology
to new platforms and formats; military and other government funding
for the purchase of certain of the Company's equipment and
services; the impact on sales and pricing of certain customer group
purchasing arrangements; changes in spending or reimbursement for
medical products or services; the costs associated with the
Company's research and business development efforts; the usefulness
of older technologies and related licenses and intellectual
property; the effectiveness of and costs associated with the
Company's IT platform enhancements; the anticipated results of
operations of the Company and its subsidiaries or joint ventures;
valuation of the Company's long-lived assets or reporting units
relative to future cash flows; changes in pricing of services and
products; changes in postal and delivery practices; the Company's
business plans; anticipated revenue and cost growth; the ability to
integrate the operations of acquired businesses and to realize the
expected benefits of acquisitions; the risks associated with
conducting business internationally; costs incurred for potential
acquisitions or similar transactions; other anticipated financial
events; the effects of changing economic and competitive
conditions, including instability in capital markets which could
impact availability of short and long-term financing; the timing
and extent of changes in interest rates; the level of borrowings;
foreign exchange rates; government regulations; accreditation
requirements; changes in the trading market that affect the costs
of obligations under the Company's benefit plans; and pending
accounting pronouncements. These assumptions may not materialize to
the extent assumed, and risks and uncertainties may cause actual
results to be different from what is anticipated today. These risks
and uncertainties also may result in changes to the Company's
business plans and prospects, and could create the need from time
to time to write down the value of assets or otherwise cause the
Company to incur unanticipated expenses. Additional information may
be obtained by reviewing the information set forth in Item 1A.
"Risk Factors" and Item 7A. "Quantitative and Qualitative
Disclosures about Market Risk" and information contained in the
Company's Annual Report on Form 10-K for the fiscal year ended
September 30, 2015 and other reports filed by the Company,
from time to time, with the Securities and Exchange Commission. The
Company does not undertake, and expressly disclaims, any duty to
update any forward-looking statement whether as a result of new
information, future events or changes in the Company's
expectations, except as required by law.
Financial Tables Follow
Landauer, Inc. and
Subsidiaries Condensed Consolidated Balance Sheets
(Unaudited)
|
|
|
|
|
|
|
|
(Dollars in
Thousands)
|
|
June
30,
2016
|
|
September 30,
2015
|
Assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
11,975
|
|
$
|
15,314
|
Receivables, net of
allowances of $1,609 at June 30, 2016 and $1,556 at September 30,
2015
|
|
|
33,050
|
|
|
32,412
|
Inventories
|
|
|
5,820
|
|
|
7,035
|
Prepaid expenses and
other current assets
|
|
|
7,105
|
|
|
6,992
|
Total current
assets
|
|
|
57,950
|
|
|
61,753
|
|
|
|
|
|
|
|
Net property, plant
and equipment
|
|
|
46,136
|
|
|
46,367
|
Equity in joint
ventures
|
|
|
25,330
|
|
|
24,010
|
Goodwill
|
|
|
33,704
|
|
|
35,072
|
Intangible assets, net
of accumulated amortization of $11,527 at June 30, 2016 and $38,662
at September 30, 2015
|
|
|
9,857
|
|
|
13,052
|
Other
assets
|
|
|
21,693
|
|
|
28,490
|
Total
assets
|
|
$
|
194,670
|
|
$
|
208,744
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
Total current
liabilities
|
|
$
|
37,033
|
|
$
|
38,493
|
Long-term
debt
|
|
|
112,300
|
|
|
133,385
|
Other non-current
liabilities
|
|
|
22,469
|
|
|
24,539
|
Total
liabilities
|
|
|
171,802
|
|
|
196,417
|
|
|
|
|
|
|
|
Stockholders'
equity
|
|
|
|
|
|
|
Landauer, Inc.
stockholders' equity
|
|
|
21,677
|
|
|
11,195
|
Noncontrolling
interest
|
|
|
1,191
|
|
|
1,132
|
Total stockholders'
equity
|
|
|
22,868
|
|
|
12,327
|
Total Liabilities
and Stockholders' Equity
|
|
$
|
194,670
|
|
$
|
208,744
|
Landauer, Inc. and
Subsidiaries Condensed Consolidated Statements of
Operations (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
|
Nine Months Ended
June 30,
|
(Dollars in
Thousands, Except per Share)
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Total
revenues
|
|
$
|
37,854
|
|
$
|
35,467
|
|
$
|
112,466
|
|
$
|
111,153
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost and
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
sales
|
|
|
18,336
|
|
|
16,821
|
|
|
54,678
|
|
|
53,183
|
Selling, general and
administrative
|
|
|
11,805
|
|
|
13,535
|
|
|
36,606
|
|
|
41,088
|
Total costs and
expenses
|
|
|
30,141
|
|
|
30,356
|
|
|
91,284
|
|
|
94,271
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
|
7,713
|
|
|
5,111
|
|
|
21,182
|
|
|
16,882
|
Equity in income of
joint ventures
|
|
|
244
|
|
|
428
|
|
|
797
|
|
|
1,804
|
Other expense,
net
|
|
|
2,847
|
|
|
(922)
|
|
|
728
|
|
|
(3,073)
|
Income before
taxes
|
|
|
10,804
|
|
|
4,617
|
|
|
22,707
|
|
|
15,613
|
Income tax
expense
|
|
|
3,382
|
|
|
481
|
|
|
7,074
|
|
|
3,271
|
Net income
|
|
|
7,422
|
|
|
4,136
|
|
|
15,633
|
|
|
12,342
|
Less: Net income
attributed to noncontrolling interest
|
|
|
157
|
|
|
81
|
|
|
446
|
|
|
363
|
Net income attributed
to Landauer, Inc.
|
|
$
|
7,265
|
|
$
|
4,055
|
|
$
|
15,187
|
|
$
|
11,979
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per share
attributable to Landauer, Inc. shareholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
0.76
|
|
$
|
0.42
|
|
$
|
1.59
|
|
$
|
1.26
|
Weighted average
basic shares outstanding
|
|
|
9,531
|
|
|
9,509
|
|
|
9,523
|
|
|
9,476
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
$
|
0.76
|
|
$
|
0.42
|
|
$
|
1.58
|
|
$
|
1.25
|
Weighted average
diluted shares outstanding
|
|
|
9,564
|
|
|
9,534
|
|
|
9,555
|
|
|
9,503
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
Diluted
|
|
$
|
0.58
|
|
$
|
0.48
|
|
$
|
1.51
|
|
$
|
1.38
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Landauer, Inc. and
Subsidiaries Condensed Consolidated Statements of Cash
Flows (Unaudited)
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
June 30,
|
(Dollars in
Thousands)
|
|
2016
|
|
2015
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
Net income
|
|
$
|
15,633
|
|
$
|
12,342
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
|
8,461
|
|
|
9,274
|
Equity in income of
joint ventures
|
|
|
(797)
|
|
|
(1,804)
|
Dividends from joint
ventures
|
|
|
1,195
|
|
|
1,144
|
Stock-based
compensation and related net tax benefits
|
|
|
2,048
|
|
|
1,422
|
Current and long-term
deferred taxes, net
|
|
|
3,639
|
|
|
769
|
Gain on disposition of
business
|
|
|
(3,904)
|
|
|
-
|
Gain on sale, disposal
and abandonment of fixed assets
|
|
|
368
|
|
|
142
|
Gain on
investments
|
|
|
(558)
|
|
|
(159)
|
Changes in operating
assets and liabilities
|
|
|
(3,866)
|
|
|
(1,419)
|
Net cash provided
by operating activities
|
|
|
22,219
|
|
|
21,711
|
|
|
|
|
|
|
|
Net cash provided
by (used in) investing activities
|
|
|
3,795
|
|
|
(6,691)
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
Long-term borrowings,
net
|
|
|
(21,085)
|
|
|
800
|
Dividends paid to
stockholders
|
|
|
(7,933)
|
|
|
(13,237)
|
Other financing
activities, net
|
|
|
(417)
|
|
|
(462)
|
Net cash used in
financing activities
|
|
|
(29,435)
|
|
|
(12,899)
|
|
|
|
|
|
|
|
Effects of foreign
currency translation
|
|
|
82
|
|
|
(441)
|
Net (decrease)
increase in cash and cash equivalents
|
|
|
(3,339)
|
|
|
1,680
|
Opening balance -
cash and cash equivalents
|
|
|
15,314
|
|
|
6,761
|
Ending balance - cash
and cash equivalents
|
|
$
|
11,975
|
|
$
|
8,441
|
Non-GAAP Financial
Measures
|
|
A reconciliation of
Adjusted EBITDA and Adjusted Net Income, Pro Forma Revenue and Pro
Forma Operating Income (i.e., non-GAAP financial measures) to the
most directly comparable GAAP measures is provided
below:
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
Nine Months Ended
June 30,
|
(Unaudited,
Dollars in Thousands)
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Adjusted
EBITDA
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributed
to Landauer, Inc.
|
$
|
7,265
|
|
$
|
4,055
|
|
$
|
15,187
|
|
$
|
11,979
|
Add back:
|
|
|
|
|
|
|
|
|
|
|
|
Net financing
costs
|
|
588
|
|
|
965
|
|
|
2,420
|
|
|
2,652
|
Depreciation and
amortization
|
|
2,801
|
|
|
3,182
|
|
|
8,462
|
|
|
9,274
|
Provision for income
taxes
|
|
3,382
|
|
|
481
|
|
|
7,074
|
|
|
3,271
|
Earnings before
interest, taxes, depreciation and amortization (EBITDA)
|
$
|
14,036
|
|
$
|
8,683
|
|
$
|
33,143
|
|
$
|
27,176
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
Non-cash stock based
compensation
|
|
904
|
|
|
550
|
|
|
2,048
|
|
|
1,422
|
Gain on disposition of
business
|
|
(3,904)
|
|
|
-
|
|
|
(3,904)
|
|
|
-
|
Lease termination
expenses
|
|
518
|
|
|
-
|
|
|
518
|
|
|
-
|
Transaction
expenses
|
|
-
|
|
|
-
|
|
|
240
|
|
|
-
|
Sub-total
adjustments
|
|
(2,482)
|
|
|
550
|
|
|
(1,098)
|
|
|
1,422
|
Adjusted
EBITDA
|
$
|
11,554
|
|
$
|
9,233
|
|
$
|
32,045
|
|
$
|
28,598
|
|
|
Three Months Ended
June 30,
|
|
Nine Months Ended
June 30,
|
(Unaudited,
Dollars in Thousands)
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Adjusted Net
Income
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributed
to Landauer, Inc.
|
$
|
7,265
|
|
$
|
4,055
|
|
$
|
15,187
|
|
$
|
11,979
|
Sub-total
adjustments
|
|
(2,482)
|
|
|
550
|
|
|
(1,098)
|
|
|
1,422
|
Income taxes on
adjustments
|
|
777
|
|
|
(57)
|
|
|
344
|
|
|
(277)
|
Adjustments,
net
|
|
(1,705)
|
|
|
493
|
|
|
(754)
|
|
|
1,145
|
Adjusted Net
Income
|
$
|
5,560
|
|
$
|
4,548
|
|
$
|
14,433
|
|
$
|
13,124
|
|
|
Three Months Ended
June 30,
|
|
Nine Months Ended
June 30,
|
(Unaudited,
Dollars in Thousands)
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Pro Forma
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenues, as
reported
|
$
|
37,854
|
|
$
|
35,467
|
|
$
|
112,466
|
|
$
|
111,153
|
Add back:
|
|
|
|
|
|
|
|
|
|
|
|
Net foreign currency
impact
|
|
209
|
|
|
-
|
|
|
1,969
|
|
|
-
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
Medical Products
adjustment
|
|
(800)
|
|
|
(2,398)
|
|
|
(5,802)
|
|
|
(7,302)
|
Radon
adjustment
|
|
(41)
|
|
|
(764)
|
|
|
(89)
|
|
|
(3,964)
|
Total Revenues, pro
forma
|
$
|
37,222
|
|
$
|
32,305
|
|
$
|
108,544
|
|
$
|
99,887
|
|
|
Three Months Ended
June 30,
|
|
Nine Months Ended
June 30,
|
(Unaudited,
Dollars in Thousands)
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Pro Forma
Operating Income
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income, as
reported
|
$
|
7,713
|
|
$
|
5,111
|
|
$
|
21,182
|
|
$
|
16,882
|
Add back:
|
|
|
|
|
|
|
|
|
|
|
|
Net foreign currency
impact
|
|
94
|
|
|
-
|
|
|
680
|
|
|
-
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
Medical Products
adjustment
|
|
(141)
|
|
|
(375)
|
|
|
(1,063)
|
|
|
(953)
|
Radon
adjustment
|
|
(41)
|
|
|
31
|
|
|
(89)
|
|
|
(1,509)
|
Total Operating
Income, pro forma
|
$
|
7,625
|
|
$
|
4,767
|
|
$
|
20,710
|
|
$
|
14,420
|
|
|
Segment
Information
|
|
The following tables
summarize financial information for each reportable segment for the
three and nine months ended June 30:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
June 30,
|
|
Nine Months
Ended
June 30,
|
(Unaudited,
Dollars in Thousands)
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Revenues by
segment:
|
|
|
|
|
|
|
|
|
|
|
|
Radiation
Measurement
|
$
|
27,492
|
|
$
|
24,143
|
|
$
|
77,716
|
|
$
|
77,880
|
Medical
Physics
|
|
9,562
|
|
|
8,926
|
|
|
28,948
|
|
|
25,971
|
Medical
Products
|
|
800
|
|
|
2,398
|
|
|
5,802
|
|
|
7,302
|
Consolidated
revenues
|
$
|
37,854
|
|
$
|
35,467
|
|
$
|
112,466
|
|
$
|
111,153
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
June 30,
|
|
Nine Months
Ended
June 30,
|
(Unaudited,
Dollars in Thousands)
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Operating income
(loss) by segment:
|
|
|
|
|
|
|
|
|
|
|
|
Radiation
Measurement
|
$
|
10,294
|
|
$
|
7,604
|
|
$
|
29,161
|
|
$
|
26,402
|
Medical
Physics
|
|
756
|
|
|
1,143
|
|
|
2,452
|
|
|
2,082
|
Medical
Products
|
|
141
|
|
|
375
|
|
|
1,063
|
|
|
953
|
Corporate
|
|
(3,478)
|
|
|
(4,011)
|
|
|
(11,494)
|
|
|
(12,555)
|
Consolidated
operating income
|
$
|
7,713
|
|
$
|
5,111
|
|
$
|
21,182
|
|
$
|
16,882
|
For Further Information Contact:
Michael DeGraff
Sard Verbinnen &
Co
Phone: 312.895.4734
Email:
mdegraff@sardverb.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/landauer-inc-reports-fiscal-2016-third-quarter-results-300310624.html
SOURCE Landauer, Inc.