22-Jan-2004 - Dionex Corporation

Dionex Reports Record Sales and Earnings for Second Quarter

Dionex Corporation announced record sales and earnings for its second quarter and first six months of fiscal 2004.

For the second quarter ended December 31, 2003, sales were $65.5 million, an increase of 20%, compared with the $54.5 million reported for the same period last year. Excluding the favorable effects of currency fluctuations, sales growth would have been 11% for the quarter. Diluted earnings per share were $.49 for the second quarter, showing an increase of 20% over the $.41 reported in the second quarter last year. Cash flow from operations was $9 million in the quarter.

For the first six months of fiscal 2004, sales totaled $118.8 million, an increase of 17%, compared with the $101.8 million reported for the first six months of fiscal 2003. Excluding the favorable effects of currency fluctuations, sales for the first six months increased by 10%. Diluted earnings per share for the first six months ended December 31, 2003, were $.84, an increase of 20%, compared with the $.70 per share reported in the first half of last year. Cash flow from operations for the first six months was strong and totaled approximately $22 million.

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