Atrion Corporation (ATRI) has reported 2.37 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $7.61 million, or $4.10 a share in the quarter, compared with $7.80 million, or $4.19 a share for the same period last year.     

Revenue during the quarter went up marginally by 1.21 percent to $37.84 million from $37.38 million in the previous year period. Gross margin for the quarter contracted 260 basis points over the previous year period to 46.58 percent. Total expenses were 70.99 percent of quarterly revenues, up from 69.04 percent for the same period last year. That has resulted in a contraction of 195 basis points in operating margin to 29.01 percent.

Operating income for the quarter was $10.98 million, compared with $11.57 million in the previous year period.

Commenting on the results for the third quarter compared to the same period of 2015, David Battat, president and chief executive, said, "Despite continued international pricing pressures and the expiration of certain ophthalmic patents, revenues were up 1% compared to the same period last year. Fluid delivery and Ophthalmology both showed comparative gains of 5%, while Cardiovascular sales were down 5% compared to a particularly strong period in 2015 when they were up 14%." Mr. Battat continued, "Lower prices led to a 5% decline in operating income. However, net income and diluted earnings per share were each down 2%, due to a tax rate that was two percentage points lower than in the comparable 2015 quarter." Mr. Battat added, "With no repurchases of stock in the latest period, our cash and short and long term investments increased by $7.2 million to a total of $48.6 million."

Days sales outstanding were almost stable at 50 days for the quarter, when compared with the last year period.

Days inventory outstanding has decreased to 68 days for the quarter compared with 137 days for the previous year period.