Business Services Industry
Reading, Pa.-Area Medical-Device Firm Reports Increase in Net Income.
Knight Ridder/Tribune Business News, March, 2002
Reading Eagle, Pa. Knight Ridder/Tribune Business News
Mar. 22--Arrow International Inc., Bern Township, Thursday reported net income for the second quarter of $12.7 million, or 59 cents a diluted share, compared with $11.6 million, or 53 cents a diluted share, a year earlier.
Net sales for the quarter rose to $85.8 million from $82.5 million in second-quarter 2001.
The company said the results were in line with the its projections, but said the continued strength of the U.S. dollar kept sales slightly below the targeted level. It also recognized a small loss in the quarter due to its agreement to sell its implantable drug infusion pump business. The move was offset by a sale of securities held for investment.
Arrow said that...
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