GLENWOOD, Ill., Aug. 10, 2015 /PRNewswire/ -- Landauer, Inc.
(NYSE: LDR), a recognized leader in personal and environmental
radiation measurement and monitoring, outsourced medical physics
services and high quality medical consumable accessories, today
reported financial results for its fiscal 2015 third quarter ended
June 30, 2015.
Fiscal 2015 Third Quarter Highlights
- Revenue of $35.5 million, a 1.1%
decrease compared to the year-ago period
- Domestic Radiation Measurement revenues grew 1.5%
year-over-yea
- Medical Physics revenues grew 8.5% year-over-year
- Unfavorable impact due to foreign currency rates reduced
revenues by $1.5 million. Excluding
the impact of foreign currency exchange rates, revenues increased
3.1%.
- Operating income of $5.1 million,
compared to an operating loss of $59.6
million in the prior year period
- Adjusted operating income increased $1.0
million compared to the third quarter of fiscal 2014
- Professional fees reduced operating income by $0.5 million year-over-year
- Net income of $4.1 million,
compared to a net loss of $36.3
million in the prior year period
- Adjusted net income of $4.5
million was up $2.4 million
compared to the third quarter of fiscal 2014
- Adjusted EBITDA of $9.2 million,
an increase of 8.7% year-over-year
Mike Leatherman, President and
Chief Executive Officer of Landauer stated, "While we continue to
experience the negative impact of unfavorable foreign currency
rates, our underlying results demonstrate the strength of our
position as the leading provider of enterprise-wide solutions for
our customers. At the same time, we are particularly encouraged by
the 8.5% growth in revenues in our Medical Physics segment."
Leatherman continued, "We continue to make progress on our
growth initiatives, including our next generation digital dosimeter
platform, Verifii™ and are well positioned to meet the emerging
needs for a broader radiation management solution. We are seeing
strong demand for our solutions following the Joint Commission's
new Diagnostic Imaging requirements that became effective for
hospitals and ambulatory care centers on July 1 and believe this trend will continue to
drive further growth opportunities and long-term value for
shareholders."
Third Fiscal Quarter Financial Overview
Revenues for the third fiscal quarter of 2015 were $35.5 million, a 1.1% decrease compared to
revenues of $35.9 million for the
third fiscal quarter of 2014. Radiation Measurement revenues for
the third fiscal quarter of 2015 were $24.1
million, a 4.7% decrease compared to $25.3 million for the third fiscal quarter of
2014. The decrease in revenues was primarily due to the unfavorable
impact of changes in foreign currency exchange rates of
$1.5 million, partially offset by an
increase in domestic revenues of $0.3
million. Medical Physics revenues increased $0.7 million, due to increased imaging services.
Medical Products revenues were flat.
Operating income for the third fiscal quarter of 2015 was
$5.1 million, compared with an
operating loss of $59.6 million for
the third fiscal quarter of 2014. The increase in operating income
was driven by the $62.2 million
goodwill and other intangible assets impairment charge, and
$1.6 million in reorganization
expenses recorded during the third fiscal quarter of 2014 that were
not present in the third fiscal quarter of 2015. Adjusted operating
income increased $1.0 million due to
our lean initiatives and continued focus on higher margin,
recurring revenues.
Fiscal Nine Months Financial Overview
Revenues for the first nine months of fiscal 2015 were
$111.2 million, a 1.7% decrease
compared to revenues of $113.1
million for the first nine months of fiscal 2014. Revenues
in the Radiation Measurement segment decreased $4.3 million due to an unfavorable foreign
currency impact of $3.7 million and a
decrease in product sales in Europe of $1.0
million. Revenues in the Medical Physics segment increased
$2.1 million, primarily driven by
increased imaging services of $1.6
million. Revenues in the Medical Products segment increased
$0.4 million primarily due to the
full-period impact of a modest acquisition in December 2013.
Operating income for the first nine months of fiscal 2015 was
$16.9 million, compared to an
operating loss of $47.3 million for
the first nine months of fiscal 2014. The increase in operating
income was due to the goodwill and other intangible assets
impairment charge recorded in the prior year that was not present
in the first nine months of fiscal 2015. Adjusted operating income
margins increased to 15.2% in the first nine months of fiscal 2015
from 14.7% in the first nine months of fiscal 2014.
Fiscal 2015 Outlook
As communicated in Landauer's second quarter earnings
announcement, the Company continues to expect unfavorable foreign
currency rates will negatively impact full-year results for fiscal
year 2015. Specifically, the adverse impact of foreign currency
year-over-year is expected to result in a reduction in revenue of
approximately $6.0 million, a
reduction of Adjusted Net Income of approximately $0.8 million and a reduction of Adjusted EBITDA
of approximately $2.8 million.
Accordingly, Landauer is revising its full-year 2015 guidance as
follows:
|
|
|
|
|
|
|
Prior
Guidance
|
|
Revised
Guidance
|
|
Revenue
|
|
$153 - $163
Million
|
|
$150 - $153
Million
|
|
Adjusted Net
Income
|
|
$16 - $19
Million
|
|
$17 - $19
Million
|
|
Adjusted
EBITDA
|
|
$41 - $46
Million
|
|
$38 - $41
Million
|
|
|
|
|
|
|
|
|
|
|
|
Use of Non-GAAP Financial Measures
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 Operating
Income and Adjusted Net Income as measures of earnings to eliminate
the effects of certain non-cash and nonrecurring items of the
Company and Adjusted Free Cash Flow as a measure of liquidity to
eliminate the effects of certain acquisition and reorganization
costs. Adjusted Operating Income represents operating income with
adjustments for goodwill and other intangible assets impairments
and acquisition, reorganization and nonrecurring costs. Adjusted
Net Income represents net income with tax-effected adjustments for
stock compensation expense, goodwill and other intangible assets
impairments and acquisition, reorganization and nonrecurring costs.
Adjusted Free Cash Flow represents net cash provided by operating
activities with adjustments for capital expenditures and
acquisition, reorganization and nonrecurring costs.
However, Adjusted EBITDA, Adjusted Operating Income, Adjusted
Net Income and Adjusted Free Cash Flow 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 Tuesday, August 11, 2015, at
9:00 a.m. Central Time (10:00 a.m. Eastern Time). To participate, callers
should dial 866-866-1542 (within the
United States and Canada),
or 707-294-1539 (international callers), passcode 1110120, 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 1110120, which will be available through
Friday, September 11, 2015. 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, the leading domestic provider of outsourced
medical physics services, as well as a provider of high quality
medical accessories used in radiology, radiation therapy, and image
guided surgery procedures. 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. Through its Medical
Products segment, the Company provides medical consumable
accessories used in radiology, radiation therapy, and image guided
surgery procedures. 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 2015 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 ventures;
valuation of the Company's long-lived assets or business 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 year ended
September 30, 2014 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
Consolidated
Balance Sheets (Unaudited)
|
|
|
|
|
|
|
|
(Dollars in
Thousands)
|
|
June 30,
2015
|
|
September 30,
2014
|
Assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
8,441
|
|
$
|
6,761
|
Receivables, net of
allowances of $1,456 at June 30, 2015 and $1,872 at September 30,
2014
|
|
|
29,392
|
|
|
34,707
|
Inventories
|
|
|
7,456
|
|
|
6,687
|
Prepaid expenses and
other current assets
|
|
|
7,440
|
|
|
6,178
|
Total current
assets
|
|
|
52,729
|
|
|
54,333
|
|
|
|
|
|
|
|
Net property, plant
and equipment
|
|
|
46,700
|
|
|
46,757
|
Equity in joint
ventures
|
|
|
23,315
|
|
|
23,835
|
Goodwill
|
|
|
40,850
|
|
|
43,218
|
Intangible assets, net
of accumulated amortization of $38,177 at June 30, 2015 and $37,579
at September 30, 2014
|
|
|
13,181
|
|
|
14,077
|
Other
assets
|
|
|
31,299
|
|
|
34,366
|
Total
assets
|
|
$
|
208,074
|
|
$
|
216,586
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
Total current
liabilities
|
|
$
|
37,970
|
|
$
|
44,728
|
Long-term
debt
|
|
|
134,385
|
|
|
133,585
|
Other non-current
liabilities
|
|
|
22,984
|
|
|
24,539
|
Total
liabilities
|
|
|
195,339
|
|
|
202,852
|
|
|
|
|
|
|
|
Stockholders'
equity
|
|
|
|
|
|
|
Landauer, Inc.
stockholders' equity
|
|
|
11,558
|
|
|
12,254
|
Noncontrolling
interest
|
|
|
1,177
|
|
|
1,480
|
Total stockholders'
equity
|
|
|
12,735
|
|
|
13,734
|
Total Liabilities
and Stockholders' Equity
|
|
$
|
208,074
|
|
$
|
216,586
|
Landauer, Inc. and
Subsidiaries
Consolidated
Statements of Operations (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
June 30,
|
|
|
Nine Months
Ended
June 30,
|
(Dollars in
Thousands, Except per Share)
|
|
2015
|
|
2014
(As Restated)
|
|
2015
|
|
2014
(As Restated)
|
Total
revenues
|
|
$
|
35,467
|
|
$
|
35,868
|
|
$
|
111,153
|
|
$
|
113,069
|
Cost and
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
sales
|
|
|
16,821
|
|
|
17,930
|
|
|
53,183
|
|
|
54,647
|
Selling, general and
administrative
|
|
|
13,535
|
|
|
13,819
|
|
|
41,088
|
|
|
41,795
|
Goodwill and other
intangible assets impairment charge
|
|
|
-
|
|
|
62,188
|
|
|
-
|
|
|
62,188
|
Acquisition,
reorganization and nonrecurring costs
|
|
|
-
|
|
|
1,558
|
|
|
-
|
|
|
1,778
|
Total costs and
expenses
|
|
|
30,356
|
|
|
95,495
|
|
|
94,271
|
|
|
160,408
|
Operating income
(loss)
|
|
|
5,111
|
|
|
(59,627)
|
|
|
16,882
|
|
|
(47,339)
|
Equity in income of
joint ventures
|
|
|
428
|
|
|
256
|
|
|
1,804
|
|
|
2,072
|
Other expense,
net
|
|
|
(922)
|
|
|
(888)
|
|
|
(3,073)
|
|
|
(2,675)
|
Income (loss) before
taxes
|
|
|
4,617
|
|
|
(60,259)
|
|
|
15,613
|
|
|
(47,942)
|
Income tax expense
(benefit)
|
|
|
481
|
|
|
(24,225)
|
|
|
3,271
|
|
|
(20,413)
|
Net income
(loss)
|
|
|
4,136
|
|
|
(36,034)
|
|
|
12,342
|
|
|
(27,529)
|
Less: Net income
attributed to noncontrolling interest
|
|
|
81
|
|
|
301
|
|
|
363
|
|
|
471
|
Net income (loss)
attributed to Landauer, Inc.
|
|
$
|
4,055
|
|
$
|
(36,335)
|
|
$
|
11,979
|
|
$
|
(28,000)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per
share attributable to Landauer, Inc. shareholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
0.42
|
|
$
|
(3.83)
|
|
$
|
1.26
|
|
$
|
(2.96)
|
Weighted average
basic shares outstanding
|
|
|
9,509
|
|
|
9,482
|
|
|
9,476
|
|
|
9,466
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
$
|
0.42
|
|
$
|
(3.83)
|
|
$
|
1.25
|
|
$
|
(2.96)
|
Weighted average
diluted shares outstanding
|
|
|
9,534
|
|
|
9,482
|
|
|
9,503
|
|
|
9,466
|
Landauer, Inc. and
Subsidiaries
Consolidated
Statements of Cash Flows (Unaudited)
|
|
|
|
|
|
|
|
|
|
Nine Months
Ended
June 30,
|
(Dollars in
Thousands)
|
|
2015
|
|
2014
(As Restated)
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
Net income
(loss)
|
|
$
|
12,342
|
|
$
|
(27,529)
|
Adjustments to
reconcile net income (loss) to net cash provided by operating
activities:
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
|
9,274
|
|
|
11,419
|
Goodwill and other
intangible assets impairment charge
|
|
|
-
|
|
|
62,188
|
Equity in income of
joint ventures
|
|
|
(1,804)
|
|
|
(2,072)
|
Dividends from joint
ventures
|
|
|
1,144
|
|
|
1,340
|
Stock-based
compensation and related net tax benefits
|
|
|
1,422
|
|
|
1,066
|
Current and long-term
deferred taxes, net
|
|
|
769
|
|
|
(21,829)
|
Loss (gain) on sale,
disposal and abandonment of fixed assets
|
|
|
142
|
|
|
(35)
|
Gain on
investments
|
|
|
(159)
|
|
|
(505)
|
Changes in operating
assets and liabilities
|
|
|
(1,419)
|
|
|
2,508
|
Net cash provided
by operating activities
|
|
|
21,711
|
|
|
26,551
|
|
|
|
|
|
|
|
Net cash used by
investing activities
|
|
|
(6,691)
|
|
|
(5,711)
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
Long-term borrowings,
net
|
|
|
800
|
|
|
(4,500)
|
Dividends paid to
stockholders
|
|
|
(13,237)
|
|
|
(15,771)
|
Other financing
activities, net
|
|
|
(462)
|
|
|
(551)
|
Net cash used by
financing activities
|
|
|
(12,899)
|
|
|
(20,822)
|
|
|
|
|
|
|
|
Effects of foreign
currency translation
|
|
|
(441)
|
|
|
(52)
|
Net increase
(decrease) in cash and cash equivalents
|
|
|
1,680
|
|
|
(34)
|
Opening balance -
cash and cash equivalents
|
|
|
6,761
|
|
|
8,672
|
Ending balance - cash
and cash equivalents
|
|
$
|
8,441
|
|
$
|
8,638
|
Non-GAAP Financial Measures
A reconciliation of Adjusted EBITDA, Adjusted Operating Income,
Adjusted Net Income and Adjusted Free Cash Flow (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)
|
2015
|
|
2014
(As Restated)
|
|
2015
|
|
2014
(As Restated)
|
Adjusted
EBITDA
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributed to Landauer, Inc.
|
$
|
4,055
|
|
$
|
(36,335)
|
|
$
|
11,979
|
|
$
|
(28,000)
|
Add back:
|
|
|
|
|
|
|
|
|
|
|
|
Net financing
costs
|
|
965
|
|
|
760
|
|
|
2,652
|
|
|
2,506
|
Depreciation and
amortization
|
|
3,182
|
|
|
3,932
|
|
|
9,274
|
|
|
11,419
|
Provision for income
taxes
|
|
481
|
|
|
(24,225)
|
|
|
3,271
|
|
|
(20,413)
|
Earnings before
interest, taxes, depreciation and amortization (EBITDA)
|
$
|
8,683
|
|
$
|
(55,868)
|
|
$
|
27,176
|
|
$
|
(34,488)
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
Non-cash stock based
compensation
|
|
550
|
|
|
616
|
|
|
1,423
|
|
|
1,079
|
Goodwill and other
intangible assets impairment charge
|
|
-
|
|
|
62,188
|
|
|
-
|
|
|
62,188
|
Acquisition,
reorganization and nonrecurring costs
|
|
-
|
|
|
1,558
|
|
|
-
|
|
|
1,778
|
Sub-total
adjustments
|
|
550
|
|
|
64,362
|
|
|
1,423
|
|
|
65,045
|
Adjusted
EBITDA
|
$
|
9,233
|
|
$
|
8,494
|
|
$
|
28,599
|
|
$
|
30,557
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
June 30,
|
|
Nine Months
Ended
June 30,
|
(Unaudited,
Dollars in Thousands, Except per Share)
|
2015
|
|
2014
(As Restated)
|
|
2015
|
|
2014
(As Restated)
|
Adjusted Operating
Income
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
(loss)
|
$
|
5,111
|
|
$
|
(59,627)
|
|
$
|
16,882
|
|
$
|
(47,339)
|
Goodwill and other
intangible assets impairment charge
|
|
-
|
|
|
62,188
|
|
|
-
|
|
|
62,188
|
Acquisition,
reorganization and nonrecurring costs
|
|
-
|
|
|
1,558
|
|
|
-
|
|
|
1,778
|
Adjusted Operating
Income
|
$
|
5,111
|
|
$
|
4,119
|
|
$
|
16,882
|
|
$
|
16,627
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
June 30,
|
|
Nine Months
Ended
June 30,
|
(Unaudited,
Dollars in Thousands, Except per Share)
|
2015
|
|
2014
(As Restated)
|
|
2015
|
|
2014
(As Restated)
|
Adjusted Net
Income
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributed to Landauer, Inc.
|
$
|
4,055
|
|
$
|
(36,335)
|
|
$
|
11,979
|
|
$
|
(28,000)
|
Sub-total
adjustments
|
|
550
|
|
|
64,362
|
|
|
1,423
|
|
|
65,045
|
Income taxes on
adjustments
|
|
(57)
|
|
|
(25,875)
|
|
|
(277)
|
|
|
(26,086)
|
Adjustments,
net
|
|
493
|
|
|
38,487
|
|
|
1,146
|
|
|
38,959
|
Adjusted Net
Income
|
$
|
4,548
|
|
$
|
2,152
|
|
$
|
13,125
|
|
$
|
10,959
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months
Ended
June 30,
|
(Unaudited,
Dollars in Thousands)
|
2015
|
|
2014
(As Restated)
|
Adjusted Free Cash
Flow
|
|
|
|
|
|
Net cash provided by
operating activities
|
$
|
21,711
|
|
$
|
26,551
|
Capital
expenditures
|
|
(6,224)
|
|
|
(3,056)
|
Free Cash
Flow
|
|
15,487
|
|
|
23,495
|
Acquisition,
reorganization and nonrecurring costs
|
|
-
|
|
|
1,778
|
Adjusted Free Cash
Flow
|
$
|
15,487
|
|
$
|
25,273
|
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)
|
|
2015
|
|
2014
(As Restated)
|
|
2015
|
|
2014
(As Restated)
|
Revenues by
segment:
|
|
|
|
|
|
|
|
|
|
|
|
|
Radiation
Measurement
|
|
$
|
24,143
|
|
$
|
25,320
|
|
$
|
77,880
|
|
$
|
82,187
|
Medical
Physics
|
|
|
8,926
|
|
|
8,175
|
|
|
25,971
|
|
|
23,943
|
Medical
Products
|
|
|
2,398
|
|
|
2,373
|
|
|
7,302
|
|
|
6,939
|
Consolidated
revenues
|
|
$
|
35,467
|
|
$
|
35,868
|
|
$
|
111,153
|
|
$
|
113,069
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
June 30,
|
|
Nine Months
Ended
June 30,
|
(Unaudited,
Dollars in Thousands)
|
|
2015
|
|
2014
(As Restated)
|
|
2015
|
|
2014
(As Restated)
|
Operating income
(loss) by segment:
|
|
|
|
|
|
|
|
|
|
|
|
|
Radiation
Measurement
|
|
$
|
7,604
|
|
$
|
7,466
|
|
$
|
26,402
|
|
$
|
26,095
|
Medical
Physics
|
|
|
1,143
|
|
|
435
|
|
|
2,082
|
|
|
1,467
|
Medical
Products
|
|
|
375
|
|
|
(62,429)
|
|
|
953
|
|
|
(62,891)
|
Corporate
|
|
|
(4,011)
|
|
|
(5,099)
|
|
|
(12,555)
|
|
|
(12,010)
|
Consolidated
operating income (loss)
|
|
$
|
5,111
|
|
$
|
(59,627)
|
|
$
|
16,882
|
|
$
|
(47,339)
|
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-2015-third-quarter-results-300126257.html
SOURCE Landauer, Inc.