Delaware
|
1-11394
|
95-3863205
|
||
(State or other jurisdiction
of incorporation)
|
(Commission File Number)
|
(IRS Employer
Identification No.)
|
402 West County Road D, St. Paul, Minnesota
|
55112
|
|
(Address of principal executive offices)
|
(Zip Code)
|
¨
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
¨
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
¨
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
¨
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
(c)
|
Exhibits.
|
Exhibit No.
|
Description
|
|
99.1
|
MEDTOX Scientific, Inc. Press Release, dated February 9, 2012.
|
Exhibit No.
|
Description
|
|
99.1
|
MEDTOX Scientific, Inc. Press Release, dated February 9, 2012.
|
·
|
Total revenues for the year increased 11.4% to $108.1 million
|
·
|
Gross profit for the year increased 13.1% to $44.8 million
|
·
|
Operating income for the year was $7.2 million, an increase of 53.0%
|
·
|
Net income for the year was $4.5 million, an increase of 47.6%
|
·
|
Earnings per diluted share for the year were $0.49, compared to $0.34 in the prior-year period
|
Three Months Ended
|
Twelve Months Ended
|
||||||||
December 31,
|
December 31,
|
||||||||
2011
|
2010
|
2011
|
2010
|
||||||
REVENUES:
|
|||||||||
Laboratory services:
|
|||||||||
Drugs-of-abuse testing services
|
$ 10,116
|
$ 10,278
|
$ 41,343
|
$ 39,624
|
|||||
Clinical & other laboratory services
|
8,859
|
7,527
|
34,852
|
29,923
|
|||||
Clinical trial services
|
2,433
|
2,272
|
9,667
|
7,500
|
|||||
Product sales
|
5,506
|
4,879
|
22,287
|
20,054
|
|||||
26,914
|
24,956
|
108,149
|
97,101
|
||||||
COST OF REVENUES:
|
|||||||||
Cost of services
|
13,796
|
12,501
|
54,346
|
49,036
|
|||||
Cost of sales
|
2,180
|
2,068
|
8,968
|
8,425
|
|||||
15,976
|
14,569
|
63,314
|
57,461
|
||||||
GROSS PROFIT
|
10,938
|
10,387
|
44,835
|
39,640
|
|||||
OPERATING EXPENSES:
|
|||||||||
Selling, general and administrative
|
8,606
|
8,633
|
35,144
|
32,691
|
|||||
Research and development
|
635
|
563
|
2,519
|
2,261
|
|||||
9,241
|
9,196
|
37,663
|
34,952
|
||||||
INCOME FROM OPERATIONS
|
1,697
|
1,191
|
7,172
|
4,688
|
|||||
OTHER INCOME (EXPENSE):
|
|||||||||
Interest expense
|
-
|
(8
|
)
|
(49
|
)
|
(10
|
)
|
||
Other income (expense)
|
(201
|
)
|
139
|
(112
|
)
|
167
|
|||
(201
|
)
|
131
|
(161
|
)
|
157
|
||||
INCOME BEFORE INCOME TAX EXPENSE
|
1,496
|
1,322
|
7,011
|
4,845
|
|||||
INCOME TAX EXPENSE
|
(546
|
)
|
(542
|
)
|
(2,559
|
)
|
(1,828
|
)
|
|
NET INCOME
|
$ 950
|
$ 780
|
$ 4,452
|
$ 3,017
|
|||||
BASIC EARNINGS PER COMMON SHARE
|
$ 0.11
|
$ 0.09
|
$ 0.50
|
$ 0.35
|
|||||
DILUTED EARNINGS PER COMMON SHARE
|
$ 0.11
|
$ 0.09
|
$ 0.49
|
$ 0.34
|
|||||
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
|
|||||||||
Basic
|
8,864,827
|
8,799,744
|
8,853,643
|
8,715,391
|
|||||
Diluted
|
9,038,789
|
8,958,226
|
9,035,895
|
8,867,530
|
December 31,
2011
|
December 31,
2010
|
|||
ASSETS
|
||||
Cash and cash equivalents
|
$ 5,269
|
$ 1,285
|
||
Accounts receivable, net
|
17,209
|
19,575
|
||
Inventories
|
4,568
|
3,902
|
||
Other current assets
|
4,480
|
5,297
|
||
Total current assets
|
31,526
|
30,059
|
||
Building, equipment and improvements, net
|
28,105
|
28,164
|
||
|
||||
Other assets
|
17,223
|
17,234
|
||
Total assets
|
$ 76,854
|
$ 75,457
|
||
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
||||
Current liabilities
|
$ 12,725
|
$ 13,905
|
||
Other long-term obligations
|
6,501
|
7,433
|
||
Stockholders’ equity
|
57,628
|
54,119
|
||
Total liabilities and stockholders’ equity
|
$ 76,854
|
$ 75,457
|
||