ALLEN, Texas, Aug. 07, 2018 (GLOBE NEWSWIRE) -- Atrion Corporation (NASDAQ: ATRI) today announced that for the second quarter ended June 30, 2018 revenues totaled $38.8 million compared with $36.2 million for the same period in 2017. Net income for the second quarter of 2018 totaled $8.8 million as compared to $10.0 million for the same period in 2017, with diluted earnings per share for the second quarter of 2018 at $4.74 compared to $5.40 in the second quarter of 2017.

Commenting on the Company’s results for the second quarter of 2018 compared to the same period last year, David A. Battat, President & CEO, said, “Revenues were up 7% with most major products contributing to this solid performance, and operating income increased 11%.” Mr. Battat continued, “Our effective tax rate in the second quarter of 2018 was 22% compared to 5% in the comparable 2017 period largely due to significantly lower tax benefits from stock compensation. If we excluded those benefits in both periods, our income per diluted share in the 2018 period would have been $4.70 compared to $3.79 in the 2017 quarter." Mr. Battat concluded, “Manufacturing efficiencies and disciplined cost control resulted in operating income constituting 29% of revenues in the current year quarter compared to 28% in the second quarter of 2017. During the quarter, we added $3.5 million to our cash and short and long term investments bringing the total to $82.4 million as of June 30, 2018. We continue to be debt free.”

Atrion Corporation develops and manufactures products primarily for medical applications. The Company’s website is www.atrioncorp.com.

Contact: Jeffery Strickland Vice President and Chief Financial Officer (972) 390-9800

ATRION CORPORATIONUNAUDITED CONSOLIDATED STATEMENTS OF INCOME(In thousands, except per share data)

Three Months Ended Six Months Ended June 30, June 30, ---------------------- ---------------------- 2018 2017 2018 2017 - ------ - - ------ - - ------ - - ------ - Revenues $ 38,847 $ 36,164 $ 78,248 $ 74,669 Cost of goods sold 19,624 18,470 40,074 38,344 - ------ - - ------ - - ------ - - ------ - Gross profit 19,223 17,694 38,174 36,325 Operating expenses 7,957 7,519 15,542 14,823 - ------ - - ------ - - ------ - - ------ - Operating income 11,266 10,175 22,632 21,502 Interest and dividend income 411 370 742 519 Other investment income (loss) (408 ) -- (1,197 ) 1 - ------ - - ------ - - ------ - - ------ - Income before income taxes 11,269 10,545 22,177 22,022 Income tax provision (2,472 ) (519 ) (4,892 ) (2,046 ) Net income $ 8,797 $ 10,026 $ 17,285 $ 19,976 - ------ - - ------ - - ------ - - ------ - Income per basic share $ 4.75 $ 5.44 $ 9.33 $ 10.86 - ------ - - ------ - - ------ - - ------ - Weighted average basic shares outstanding 1,852 1,844 1,853 1,839 - ------ - - ------ - - ------ - - ------ - Income per diluted share $ 4.74 $ 5.40 $ 9.31 $ 10.76 - ------ - - ------ - - ------ - - ------ - Weighted average diluted shares outstanding 1,857 1,858 1,856 1,856 - ------ - - ------ - - ------ - - ------ -

ATRION CORPORATIONCONSOLIDATED BALANCE SHEETS(In thousands)

June 30, Dec. 31, ASSETS 2018 2017 --------- --------- (Unaudited ) Current assets: Cash and cash equivalents $ 36,063 $ 30,136 Short-term investments 24,176 35,468 - ------- - ------- Total cash and short-term investments 60,239 65,604 Accounts receivable 18,269 17,076 Inventories 32,503 29,354 Prepaid expenses and other 2,919 3,199 - ------- - ------- Total current assets 113,930 115,233 Long-term investments 22,208 9,136 Property, plant and equipment, net 69,572 66,369 Other assets 13,072 13,042 - ------- - ------- $ 218,782 $ 203,780 - ------- - ------- LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities 10,331 9,622 Line of credit -- -- Other non-current liabilities 10,394 9,770 Stockholders’ equity 198,057 184,388 - ------- - ------- $ 218,782 $ 203,780 - ------- - -------

NON-GAAP FINANCIAL MEASURE RECONCILIATION(In thousands, except per share data)

Included in our news release is a non-GAAP financial measure that is calculated by excluding certain tax benefits that are included in financial measures determined in accordance with GAAP. We have provided this non-GAAP measure as an additional tool for investors to better understand our operating results and to facilitate a comparison of the periods shown. This measure should be considered in addition to, rather than as a substitute for, GAAP measures of the Company's performance. The table below provides a reconciliation of this non-GAAP financial measure with the most directly comparable GAAP financial measure.

Three Months Six Months Ended Ended June 30, June 30, ----------------- -------------------- 2018 2017 2018 2017 ------- -------- -------- -------- GAAP net income $ 8,797 $ 10,026 $ 17,285 $ 19,976 Tax benefit related to employee stock compensation 67 2,983 90 5,253 - ----- - ------ - ------ - ------ Adjusted non-GAAP net income $ 8,730 $ 7,043 $ 17,195 $ 14,723 Weighted average diluted shares outstanding 1,857 1,858 1,856 1,856 Adjusted non-GAAP income per diluted share $ 4.70 $ 3.79 $ 9.27 $ 7.93 GAAP income per diluted share $ 4.74 $ 5.40 $ 9.31 $ 10.76