UPDATE: Cantel Medical Reports 18% Surge In Q3 Net Income

Cantel Medical Corp CMN reported an 18% rise in its net income for the third quarter on Wednesday. Cantel Medical reported its quarterly net income at $5,048,000, or $0.29 per share, compared with a net income of $4,274,000, or $0.25 per share, in the year-ago period. Its sales surged 24% to $82,619,000, compared with $66,559,000, in the year-ago quarter. Analysts were expecting earnings of $0.31 per share on revenue of $76.17 million. Andrew Krakauer, Cantel's President and CEO stated, "We are pleased to have delivered record sales and another quarter of improved earnings. It is positive to see sales increases in our three major business segments -- Endoscope Reprocessing, Water Purification and Filtration, and Healthcare Disposables -- all with significant core growth. These solid results confirm the continued success of our three-prong approach to growth which includes investing in new product development, sales and marketing programs and acquisitions." Cantel Medical shares closed at $23.12 yesterday. Read more from Benzinga's Company news.