ALLEN, Texas, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Atrion Corporation (NASDAQ:ATRI) today announced its results for the second quarter ended June 30, 2024. Revenues for the second quarter of 2024 totaled $48.8 million compared to $43.8 million for the same period in 2023. For the just ended quarter, operating income was $0.5 million, down $6.8 million from the comparable 2023 period, and net income was $0.4 million, down $6.2 million from the same period in 2023. Operating income was significantly impacted by the accrual of $5.0 million in acquisition-related expenses discussed below. Second quarter 2024 diluted earnings per share were $0.23 compared to $3.73 for the second quarter of 2023. Commenting on the results for the second quarter of 2024 compared to the prior year period, David Battat, President and CEO, stated, "We were pleased to see strong revenue growth of 11%. Adjusting for the accrual of expenses relating to the merger with Nordson Corporation announced May 28, 2024, operating income was $5.5 million, down 25% from the prior year period. Our MPS consoles showed particularly strong growth, with sales up 22% and MPS disposables sales up 21%. We saw continued recovery in our fluid delivery products, with certain product families showing double-digit revenue increases compared to the prior year period. We continued to halt some fluid delivery production lines to reduce inventories accumulated as the result of the supply chain disruptions in 2023. While this halt resulted in under-absorption of overhead and negatively impacted operating income, the value of inventories declined 10% from the first to the second quarters of this year and are 18% lower than they were December 31, 2023." Mr. Battat concluded, "As of June 30, 2024, cash and short- and long-term investments totaled $23.2 million. We remain debt free." Atrion Corporation develops and manufactures products primarily for medical applications. The Company's website is www.atrioncorp.com. Contact: Cindy FergusonVice President and Chief Financial Officer(972) 390-9800   ATRION CORPORATIONUNAUDITED CONSOLIDATED STATEMENTS OF INCOME(In thousands, except per share data)     Three Months EndedJune 30,   Six Months EndedJune 30,     2024       2023       2024       2023   Revenues $ 48,773     $ 43,838     $ 96,107     $ 83,831   Cost of goods sold   32,926       26,584       67,909       51,496   Gross profit   15,847       17,254       28,198       32,335   Operating expenses   15,313       9,875       24,522       20,486   Operating income   534       7,379       3,676       11,849                   Interest and dividend income   388       127       544