Hamilton Thorne, a provider of precision laser devices and advanced image analysis systems for the assisted reproductive technologies and developmental biology research markets, today reported operational and financial results for the quarter ended March 31, 2016.
Hamilton Thorne reported total sales of $2.029 million for the quarter-ended March 31, 2016, a decrease of $68,072 (3.2%) versus the prior year, as a difficult foreign exchange environment continues. Net income and EBITDA for the quarter were $24,147 and $116,423 versus $135,512 and $204,248, respectively in the prior year quarter. Cash generated by operations was up 4% to $351,131 and the company ended the quarter with $4.5 million in cash on hand, an increase of $168,153 from December 31, 2015.
The company also reported that its strategy to broaden its offerings of products and services through strategic acquisitions of both operating companies and established product lines continues to be a major focus. The company is actively working on completing additional acquisitions and expects to complete one or more acquisitions in the coming months.