Business Services Industry
Reading Eagle, Pa., Business Briefs Column.
Knight Ridder/Tribune Business News, December, 2002
Reading Eagle, Pa. Knight Ridder/Tribune Business News
Dec. 20--ARROW REPORTS DROP IN EARNINGS: Arrow International Inc., Bern Township-based maker of surgical products, said Thursday its net income for the first quarter of fiscal 2003 fell to $11.4 million or 52 cents per diluted share, in comparison with $11.9 million or 54 cents per diluted share a year earlier.
Net sales for the firm rose to $88.8 million from $84.2 million in the prior-year period.
Arrow said the earnings decrease was due to lower margins on the sale of Arrow and non-Arrow products and inventories purchased as part of the company's September acquisition of the assets of Stepic Medical, New York.
The firm reported increased international and critical-care...
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