GLENWOOD, Ill., Dec. 14, 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 full
year and fourth quarter ended September 30,
2016 and provided guidance for Fiscal 2017.
Fiscal 2016 and Fourth Quarter Highlights
- Fiscal 2016 reported revenue of $149.2 million
- Excluding the divested Medical Products and Radon businesses,
pro forma revenue of $143.3 million
increased 4.8% compared to the prior year
- Fiscal 2016 reported net income of $17.8
million and earnings per diluted share of $1.85
- Fiscal 2016 adjusted net income of $18.4
million, or $1.92 per diluted
share, exceeds top end of guidance of $17.5
million
- Reported fourth quarter earnings per diluted share of
$0.26, includes negative tax impact
of the divested Medical Products business
- Fourth quarter adjusted earnings per diluted share of
$0.44
- Full-year debt reduction of $24
million, an 18% reduction
- Full remediation of prior year material weaknesses
completed
Mike Kaminski, President and
Chief Executive Officer of Landauer stated, "Our Fiscal 2016
results continue to demonstrate the strong progress and
transformation occurring at Landauer. Throughout the year, we
successfully streamlined our core business and 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. Looking
ahead to 2017, we expect demand for our imaging physics and
informatics solutions to drive increased recurring revenue and we
will continue to be squarely focused on executing our strategic
growth plan by making the investments in R&D and marketing
necessary to support the launch of our Verifii platform."
Fiscal Year Ended September 30,
2016 Financial Overview
Revenues for fiscal 2016 were $149.2
million, a 1.4% decrease compared to $151.3 million for fiscal 2015. Excluding
the divested Medical Products and Radon businesses, total revenues
increased $6.6 million, or 4.8%,
compared to the prior year period. Domestic Radiation
Measurement services revenues increased 2.4%, and revenues in the
Medical Physics segment increased $3.8
million, or 10.7%, due to strong demand for imaging
services.
Operating income for fiscal 2016 was $26.6 million, a 12.4% increase compared to
operating income of $23.7 million for
the fiscal 2015. Excluding the operating income from the divested
Medical Products and Radon businesses, operating income increased
$4.4 million, or 20.9%, compared to
the prior year period. The increase in operating income was
driven by higher margin sales coupled with a decrease in
reorganization expenses and selling, general and administrative
expenses.
Fourth Quarter Financial Overview
Revenues for the fourth fiscal quarter of 2016 were $36.8 million, an 8.4% decrease compared to
revenues of $40.2 million for the
fourth fiscal quarter of 2015. Excluding the divested Medical
Products and Radon businesses, total revenues decreased
$0.2 million compared to the prior
year period. As expected given the timing of military sales,
Radiation Measurement revenues for the quarter decreased to
$26.5 million from $28.1 million for the fourth fiscal quarter of
2015. There were no military sales in the fourth fiscal
quarter of 2016 compared to approximately $2
million in the fourth fiscal quarter of 2015. Medical
Physics revenues increased $0.8
million, or 8.5%, to $10.3
million, due to strong demand for imaging services.
Operating income for the fourth fiscal quarter of 2016 was
$5.5 million, compared to operating
income of $6.8 million for the fourth
fiscal quarter of 2015. Excluding the operating income from
the divested Medical Products and Radon businesses, operating
income decreased $0.9 million
compared to the prior year period due to the timing of military
sales.
Fiscal 2017 Outlook
The Company anticipates fiscal 2017 revenues in the range of
$149 million to $154 million,
representing a 4% to 7% increase compared to the fiscal 2016
Comparable Revenues. The Company anticipates diluted earnings
per share in the range of $1.65 to
$1.71, representing a 1% to 5% increase versus the fiscal
2016 Comparable Diluted EPS.
Reflected in this outlook is an expectation that the Company
will make meaningful investments in fiscal 2017 as it prepares for
the launch of its next generation Verifii platform. The Company
expects additional R&D spending and marketing and operations
expenses of approximately $2 million
to support the launch. In addition, the Company's diluted
earnings per share forecast in fiscal 2017 includes non-cash stock
compensation expense of $3.1 million
as it continues to shift its incentive compensation program more
heavily towards longer-term, performance based
awards.
Previously, the Company's fiscal 2016 earnings outlook was based
on a non-GAAP measure, adjusted net income. Adjusted net
income excluded the impact of stock compensation expense and
non-recurring gains and losses.
In order to provide comparable fiscal 2016 revenues and earnings
per diluted share, please refer to the following table:
FY2016 Revenues, As
Reported
|
$149.2
million
|
Less: Decrease from
divested businesses
|
(5.9)
million
|
FY2016 Comparable
Revenues
|
$143.3
million
|
|
|
|
|
FY2016 Net Income, As
Reported
|
$17.8
million
|
Add:
Non-recurring expenses, net of tax
|
0.5
million
|
Less: Gain on
divestiture
|
(1.9)
million
|
Less: Net income from
divested businesses
|
(0.9)
million
|
FY2016 Comparable
Net Income
|
$15.5
million
|
FY2016 Comparable
Diluted EPS
|
$1.63
|
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 full-year and fourth quarter
conference call for investors over the Internet on Wednesday, December 14, 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 34771026, 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 34771026, which will be available through
Friday, January 13, 2017. 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 2017 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, 2016 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)
|
|
September 30,
2016
|
|
September 30,
2015
|
Assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
13,285
|
|
$
|
15,314
|
Receivables, net of
allowances of $1,296 in 2016 and $1,556 in 2015
|
|
|
31,998
|
|
|
32,412
|
Inventories
|
|
|
5,670
|
|
|
7,035
|
Prepaid expenses and
other current assets
|
|
|
5,049
|
|
|
6,992
|
Total current
assets
|
|
|
56,002
|
|
|
61,753
|
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
|
46,417
|
|
|
46,367
|
Equity in joint
ventures
|
|
|
26,174
|
|
|
24,010
|
Goodwill
|
|
|
33,807
|
|
|
35,072
|
Intangible assets, net
of accumulated amortization of $11,772 in 2016 and $38,662 in
2015
|
|
|
9,297
|
|
|
13,052
|
Other
assets
|
|
|
19,119
|
|
|
28,490
|
Total
assets
|
|
$
|
190,816
|
|
$
|
208,744
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
Total current
liabilities
|
|
$
|
34,498
|
|
$
|
38,493
|
Long-term
debt
|
|
|
109,100
|
|
|
133,385
|
Other non-current
liabilities
|
|
|
26,619
|
|
|
24,539
|
Total
liabilities
|
|
|
170,217
|
|
|
196,417
|
|
|
|
|
|
|
|
Stockholders'
equity
|
|
|
|
|
|
|
Landauer, Inc.
stockholders' equity
|
|
|
19,178
|
|
|
11,195
|
Noncontrolling
interest
|
|
|
1,421
|
|
|
1,132
|
Total stockholders'
equity
|
|
|
20,599
|
|
|
12,327
|
Total Liabilities
and Stockholders' Equity
|
|
$
|
190,816
|
|
$
|
208,744
|
Landauer, Inc. and
Subsidiaries
Condensed
Consolidated Statements of Operations (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
September 30,
|
|
|
Twelve Months
Ended
September 30,
|
(Dollars in
Thousands, Except per Share)
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Total
revenues
|
|
$
|
36,773
|
|
$
|
40,161
|
|
$
|
149,239
|
|
$
|
151,314
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost and
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
sales
|
|
|
19,083
|
|
|
19,402
|
|
|
73,761
|
|
|
72,585
|
Selling, general and
administrative expense
|
|
|
12,231
|
|
|
12,901
|
|
|
48,837
|
|
|
53,989
|
Acquisition and
reorganization costs
|
|
|
-
|
|
|
1,041
|
|
|
-
|
|
|
1,041
|
Total costs and
expenses
|
|
|
31,314
|
|
|
33,344
|
|
|
122,598
|
|
|
127,615
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
|
5,459
|
|
|
6,817
|
|
|
26,641
|
|
|
23,699
|
Equity in income of
joint ventures
|
|
|
686
|
|
|
503
|
|
|
1,483
|
|
|
2,307
|
Other expense,
net
|
|
|
(500)
|
|
|
(1,611)
|
|
|
229
|
|
|
(4,684)
|
Income before
taxes
|
|
|
5,645
|
|
|
5,709
|
|
|
28,353
|
|
|
21,322
|
Income tax
expense
|
|
|
2,825
|
|
|
3,002
|
|
|
9,899
|
|
|
6,273
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
2,820
|
|
|
2,707
|
|
|
18,454
|
|
|
15,049
|
Less: Net income
attributed to noncontrolling interest
|
|
|
254
|
|
|
143
|
|
|
701
|
|
|
506
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributed
to Landauer, Inc.
|
|
$
|
2,566
|
|
$
|
2,564
|
|
$
|
17,753
|
|
$
|
14,543
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per share
attributable to Landauer, Inc. shareholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
0.27
|
|
$
|
0.27
|
|
$
|
1.86
|
|
$
|
1.52
|
Weighted average
basic shares outstanding
|
|
|
9,532
|
|
|
9,533
|
|
|
9,526
|
|
|
9,511
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
$
|
0.26
|
|
$
|
0.27
|
|
$
|
1.85
|
|
$
|
1.52
|
Weighted average
diluted shares outstanding
|
|
|
9,584
|
|
|
9,570
|
|
|
9,569
|
|
|
9,540
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
Diluted
|
|
$
|
0.44
|
|
$
|
0.41
|
|
$
|
1.92
|
|
$
|
1.78
|
Landauer, Inc. and
Subsidiaries
Condensed
Consolidated Statements of Cash Flows (Unaudited)
|
|
|
|
|
|
|
|
|
|
Twelve Months
Ended
September 30,
|
(Dollars in
Thousands)
|
|
2016
|
|
2015
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
Net income
|
|
$
|
18,454
|
|
$
|
15,049
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
|
11,072
|
|
|
12,312
|
Equity in income of
joint ventures
|
|
|
(1,483)
|
|
|
(2,307)
|
Dividends from joint
ventures
|
|
|
1,195
|
|
|
1,144
|
Stock-based
compensation and related net tax benefits
|
|
|
2,841
|
|
|
1,583
|
Current and long-term
deferred taxes, net
|
|
|
9,150
|
|
|
238
|
(Gain) loss on
disposition of business
|
|
|
(4,131)
|
|
|
366
|
Loss on sale, disposal
and abandonment of fixed assets
|
|
|
705
|
|
|
181
|
(Gain) loss on
investments
|
|
|
(754)
|
|
|
176
|
Changes in operating
assets and liabilities
|
|
|
(5,509)
|
|
|
(489)
|
Net cash provided
by operating activities
|
|
|
31,540
|
|
|
28,253
|
|
|
|
|
|
|
|
Net cash provided
by (used in) investing activities
|
|
|
1,779
|
|
|
(2,278)
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
Long-term borrowings,
net
|
|
|
(24,285)
|
|
|
(200)
|
Dividends paid to
stockholders
|
|
|
(10,574)
|
|
|
(15,874)
|
Other financing
activities, net
|
|
|
(420)
|
|
|
(449)
|
Net cash used in
financing activities
|
|
|
(35,279)
|
|
|
(16,523)
|
|
|
|
|
|
|
|
Effects of foreign
currency translation
|
|
|
(69)
|
|
|
(899)
|
|
|
|
|
|
|
|
Net (decrease)
increase in cash and cash equivalents
|
|
|
(2,029)
|
|
|
8,553
|
Opening balance -
cash and cash equivalents
|
|
|
15,314
|
|
|
6,761
|
Ending balance - cash
and cash equivalents
|
|
$
|
13,285
|
|
$
|
15,314
|
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
September 30,
|
|
Twelve Months
Ended
September 30,
|
(Unaudited,
Dollars in Thousands)
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Adjusted
EBITDA
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributed
to Landauer, Inc.
|
$
|
2,566
|
|
$
|
2,564
|
|
$
|
17,753
|
|
$
|
14,543
|
Add back:
|
|
|
|
|
|
|
|
|
|
|
|
Net financing
costs
|
|
571
|
|
|
1,258
|
|
|
2,991
|
|
|
3,910
|
Depreciation and
amortization
|
|
2,609
|
|
|
3,038
|
|
|
11,072
|
|
|
12,312
|
Provision for income
taxes
|
|
2,825
|
|
|
3,002
|
|
|
9,899
|
|
|
6,273
|
Earnings before
interest, taxes, depreciation and amortization (EBITDA)
|
$
|
8,571
|
|
$
|
9,862
|
|
$
|
41,715
|
|
$
|
37,038
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
Non-cash stock based
compensation
|
|
793
|
|
|
160
|
|
|
2,841
|
|
|
1,583
|
(Gain) loss on
disposition of business
|
|
-
|
|
|
366
|
|
|
(4,131)
|
|
|
366
|
Lease termination
expenses
|
|
-
|
|
|
-
|
|
|
518
|
|
|
-
|
Transaction
expenses
|
|
-
|
|
|
528
|
|
|
240
|
|
|
528
|
Acquisition and
reorganization costs
|
|
-
|
|
|
1,041
|
|
|
-
|
|
|
1,041
|
Sub-total
adjustments
|
|
793
|
|
|
2,095
|
|
|
(532)
|
|
|
3,518
|
Adjusted
EBITDA
|
$
|
9,364
|
|
$
|
11,957
|
|
$
|
41,183
|
|
$
|
40,556
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
September 30,
|
|
Twelve Months
Ended
September 30,
|
(Unaudited,
Dollars in Thousands)
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Adjusted Net
Income
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributed
to Landauer, Inc.
|
$
|
2,566
|
|
$
|
2,564
|
|
$
|
17,753
|
|
$
|
14,543
|
Sub-total
adjustments
|
|
793
|
|
|
2,095
|
|
|
(532)
|
|
|
3,518
|
Income taxes on
adjustments
|
|
854
|
|
|
(758)
|
|
|
1,155
|
|
|
(1,035)
|
Adjustments,
net
|
|
1,647
|
|
|
1,337
|
|
|
623
|
|
|
2,483
|
Adjusted Net
Income
|
$
|
4,213
|
|
$
|
3,901
|
|
$
|
18,376
|
|
$
|
17,026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
September 30,
|
|
Twelve Months
Ended
September 30,
|
(Unaudited,
Dollars in Thousands)
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Pro Forma
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenues, as
reported
|
$
|
36,773
|
|
$
|
40,161
|
|
$
|
149,239
|
|
$
|
151,314
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
Medical Products
adjustment
|
|
-
|
|
|
(2,585)
|
|
|
(5,802)
|
|
|
(9,887)
|
Radon
adjustment
|
|
(27)
|
|
|
(641)
|
|
|
(117)
|
|
|
(4,678)
|
Total Revenues, pro
forma
|
$
|
36,746
|
|
$
|
36,935
|
|
$
|
143,320
|
|
$
|
136,749
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
September 30,
|
|
Twelve Months
Ended
September 30,
|
(Unaudited,
Dollars in Thousands)
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Pro Forma
Operating Income
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income, as
reported
|
$
|
5,459
|
|
$
|
6,817
|
|
$
|
26,641
|
|
$
|
23,699
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
Medical Products
adjustment
|
|
-
|
|
|
(581)
|
|
|
(1,062)
|
|
|
(1,534)
|
Radon
adjustment
|
|
(27)
|
|
|
38
|
|
|
(117)
|
|
|
(1,091)
|
Total Operating
Income, pro forma
|
$
|
5,432
|
|
$
|
6,274
|
|
$
|
25,462
|
|
$
|
21,074
|
Segment Information
The following tables summarize financial information for each
reportable segment for the three and twelve months ended
September 30:
(Unaudited,
Dollars in Thousands)
|
|
|
Three Months
Ended
September 30,
|
|
|
Twelve Months
Ended
September 30,
|
Revenues by
segment:
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Radiation
Measurement
|
|
$
|
26,487
|
|
$
|
28,098
|
|
$
|
104,203
|
|
$
|
105,978
|
Medical
Physics
|
|
|
10,286
|
|
|
9,478
|
|
|
39,234
|
|
|
35,449
|
Medical
Products
|
|
|
-
|
|
|
2,585
|
|
|
5,802
|
|
|
9,887
|
Consolidated
revenues
|
|
|
36,773
|
|
|
40,161
|
|
|
149,239
|
|
|
151,314
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited,
Dollars in Thousands)
|
|
|
Three Months
Ended
September 30,
|
|
|
Twelve Months
Ended
September 30,
|
Operating income
(loss) by segment:
|
|
|
|
|
|
|
|
|
|
|
|
|
Radiation
Measurement
|
|
$
|
8,692
|
|
$
|
9,239
|
|
$
|
37,853
|
|
$
|
35,641
|
Medical
Physics
|
|
|
749
|
|
|
1,044
|
|
|
3,201
|
|
|
3,126
|
Medical
Products
|
|
|
-
|
|
|
581
|
|
|
1,063
|
|
|
1,534
|
Corporate
|
|
|
(3,982)
|
|
|
(4,047)
|
|
|
(15,476)
|
|
|
(16,602)
|
Consolidated
operating income (loss)
|
|
|
5,459
|
|
|
6,817
|
|
|
26,641
|
|
|
23,699
|
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-full-year-and-fourth-quarter-results---fiscal-2016-net-income-up-22-300378531.html
SOURCE Landauer, Inc.