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Novametrix Posts Hike
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Business New Haven
12/10/2001
By: BNH
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WALLINGFORD - Riding increasing sales of cardiopulmonary products, which contributed to higher gross margins, as well as its initiatives to lower operating expenses, Novametrix Medical Systems Inc. (NASDAQ: NMTX) reports that net income for the second quarter of fiscal 2002 ended October 28 increased 28 percent to $789,000, or nine cents per diluted share, compared to net income of $615,000 (seven cents per diluted share) for the second quarter of the prior fiscal year. Revenue was $11.5 million, compared to $13.5 million for the same period a year ago.
For the six months ended October 28, net income increased four percent to $1,722,000, or 19 cents per diluted share, compared to net income of $1,653,000 (also 19 cents per diluted share) for the first six months of fiscal 2001. Revenue was $24.8 million compared to $26.1 million for the same period last year. Net income for the first half of fiscal 2001 would have been $1,753,000 (20 cents per diluted share) if goodwill amortization was omitted.
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