Minneapolis-based MOCON, Inc. has reported its operating results for the first quarter ended 31st March 2012, with sales of gas analyser instruments, sensors and detectors increasing 28% and sales of packaging products and services also rising 25%.
Net sales for first quarter 2012 were $9.183m, an increase of 1% compared to $9.074m for first quarter 2011.
Operating income decreased 37% to $1.298,000 for first quarter 2012, compared to $2.053m for the same period last year.
While sales of the company’s permeation instruments and services, which amounted to 57% of its consolidated sales in first quarter 2012, decreased 7% compared to the same period in 2011, this decrease resulted from lower domestic shipments of instruments which was partially offset by a slight increase in international orders.
“We are pleased to report a solid quarter for shipments as well as maintaining favourable gross margins. Our international sales increased by 8% despite the continued uncertainty in some European countries”
Robert L. Demorest, President and CEO of MOCON
Sales of MOCON’s gas analyser instruments, sensors and detectors product group increased 28% compared to the first quarter in 2011, with sales of OEM sensors showing the largest increase in this group due to the timing of scheduled customer releases, and instrument sales were stronger in the emission monitoring and oil and gas exploration markets.
Sales of packaging products and services, which accounted for 17% of MOCON’s consolidated sales in first quarter 2012, increased 25% compared to the same period of the prior year. This increase in shipments of headspace analysers and leak detection instruments was realised in both the company’s domestic and foreign markets.
Overall, international sales accounted for 61% of total consolidated sales in first quarter 2012, compared to 57% in the same period last year.
“We are pleased to report a solid quarter for shipments as well as maintaining favourable gross margins. Our international sales increased by 8% despite the continued uncertainty in some European countries,” explained Robert L. Demorest, President and CEO of MOCON.
“We are excited that we completed the acquisition of Dansensor on April 2 and that we will be reporting results of our combined operations beginning in the second quarter this year. We incurred some significant transaction expenses this quarter related to the acquisition that negatively impacted our earnings, and we expect to incur a lesser amount of additional acquisition related costs in our second quarter.”
Discover more about MOCON, its recent acquisition of PBI-Dansensor, its ‘excitement’ for the growing MAP market, and much more in an exclusive interview with gasworld.
Watch out for the upcoming July issue of gasworld magazine – or keep checking the gasworld website in the coming weeks!