The company said consolidated gross margin for the three months ended January 31, 2024 was 67%, up from 65% a year earlier, and cited efficiency gains and price as the main drivers.

1. 01

   The company said consolidated gross margin for the three months ended January 31, 2024 was 67%, up from 65% a year earlier, and cited efficiency gains and price as the main drivers.

2. 02

   Office and surgical net sales rose in the three months ended January 31, 2024, the company said, mainly due to the addition of Cook Medical on November 1, 2023. It said it paid $200.0 million in cash for the Cook Medical acquisition in the same period.

3. 03

   The company said its effective tax rate for the three months ended January 31, 2024 was 32.4%, up from 30.7% a year earlier. It cited changes in the geographic composition of pre-tax earnings and an increase in the UK statutory tax rate from 19% to 25% as the main drivers.

4. 04

   The company said cash provided by financing activities in the first 3 months of fiscal 2024 was mainly attributable to $200.0 million drawn on the revolving credit to pay for the Cook Medical acquisition.

Key figures

Quarter ended January 31, 2024

Revenue

$932M

Operating income

$153M

Net income

$81M

EPS

$0.41

Gross profit

$624M

Operating cash flow

$123M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.