 Fiscal 2011 1 st Quarter Financial Results Conference Call NYSE: SPA November 2010 Exhibit 99.2 |
 2 Certain statements herein constitute forward-looking statements within the meaning of the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended. When used herein, words such as “believe,” “expect,” “anticipate,” “project,” “plan,” “estimate,” “will” or “intend” and similar words or expressions as they relate to the Company or its management constitute forward- looking statements. These forward-looking statements reflect our current views with respect to future events and are based on currently available financial, economic and competitive data and our current business plans. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward- looking statements whether as a result of such changes, new information, subsequent events or otherwise. Actual results could vary materially depending on risks and uncertainties that may affect our operations, markets, prices and other factors. Important factors that could cause actual results to differ materially from those forward-looking statements include those contained under the heading of risk factors and in the management’s discussion and analysis contained from time-to- time in the Company’s filings with the Securities and Exchange Commission. Safe Harbor Statement Safe Harbor Statement |
 3 • Fiscal 2011 1 st Quarter Consolidated Results • 1 st Quarter Segmented Operating Results • SMS Colorado 1 st Quarter Financial Results • Liquidity & Capital Resources • Corporate Governance • Outlook • Q & A Today’s Agenda Today’s Agenda |
 4 1 st Quarter Consolidated Financial Results ($ in 000’s, except per share) 2010 2009 Net Sales $ 45,767 $ 48,104 Gross Profit 7,026 7,372 Gross Margin 15.4% 15.3% Restructuring / Impairment Charges 77 876 Gain On Acquisition 2,400 - Operating Income 4,104 1,609 Operating Margin 9.0% 3.3% Income Tax Expense (Benefit) (14) 34 Net Income $ 4,080 $ 1,405 Net Profit Margin 8.9% 2.9% Earnings per share, basic and diluted 0.40 $ 0.14 $ Quarter ending Sept 30 |
 5 1 st Quarter Consolidated Financial Results ($ in 000’s, except per share) 2010 2009 Net Sales $ 45,767 $ 48,104 Gross Profit 7,026 7,372 Gross Margin 15.4% 15.3% Restructuring / Impairment Charges 77 876 Gain On Acquisition 2,400 - Operating Income 4,104 1,609 Operating Margin 9.0% 3.3% Income Tax Expense (Benefit) (14) 34 Net Income $ 4,080 $ 1,405 Net Profit Margin 8.9% 2.9% Earnings per share, basic and diluted 0.40 $ 0.14 $ Quarter ending Sept 30 |
 6 1 st Quarter Consolidated Financial Results ($ in 000’s, except per share) 2010 2009 Net Sales $ 45,767 $ 48,104 Gross Profit 7,026 7,372 Gross Margin 15.4% 15.3% Restructuring / Impairment Charges 77 876 Gain On Acquisition 2,400 - Operating Income 4,104 1,609 Operating Margin 9.0% 3.3% Income Tax Expense (Benefit) (14) 34 Net Income $ 4,080 $ 1,405 Net Profit Margin 8.9% 2.9% Earnings per share, basic and diluted 0.40 $ 0.14 $ Quarter ending Sept 30 |
 7 SMS Colorado 1 st Quarter Financial Results ($ in 000’s, except per share) 2009 Pre Acquisition Post Acquisition Colorado Pro Forma Colorado Pro Forma Net Sales $ 3,451 $ 5,940 $ 9,391 $ 9,558 Gross Profit 85 557 642 99 Gross Margin 2.5% 9.4% 6.8% 1.0% Gain on Acquisition - 2,400 2,400 - Operating Income (Loss) (85) 2,381 2,296 (499) Operating Margin -2.5% 40.1% 24.4% -5.2% Net Income (Loss) $ (77) $ 2,419 $ 2,342 $ (474) Net Profit Margin -2.2% 40.7% 24.9% -5.0% 2010 For the 3 Months Ended Sept 30, |
 8 Medical Operating Results Medical Operating Results SEGMENT 2010 % of Total 2009 % Change Medical $ 19,045 42% $ 19,556 -3% EMS 12,328 27% 17,603 -30% DSS 17,597 38% 13,345 32% Eliminations (3,203) -7% (2,400) 33% Totals $ 45,767 100% $ 48,104 -5% SEGMENT 2010 GP % 2009 GP % Medical $ 1,867 9.8% $ 2,934 15.0% EMS 907 7.4% 1,018 5.8% DSS 4,252 24.2% 3,420 25.6% Totals $ 7,026 15.4% $ 7,372 15.3% ($ in 000’s, except per share) 1st Quarter Sales 1st Quarter Gross Profit |
 9 EMS Operating Results EMS Operating Results SEGMENT 2010 % of Total 2009 % Change Medical $ 19,045 42% $ 19,556 -3% EMS 12,328 27% 17,603 -30% DSS 17,597 38% 13,345 32% Eliminations (3,203) -7% (2,400) 33% Totals $ 45,767 100% $ 48,104 -5% SEGMENT 2010 GP % 2009 GP % Medical $ 1,867 9.8% $ 2,934 15.0% EMS 907 7.4% 1,018 5.8% DSS 4,252 24.2% 3,420 25.6% Totals $ 7,026 15.4% $ 7,372 15.3% ($ in 000’s, except per share) 1st Quarter Sales 1st Quarter Gross Profit |
 10 DSS Operating Results DSS Operating Results SEGMENT 2010 % of Total 2009 % Change Medical $ 19,045 42% $ 19,556 -3% EMS 12,328 27% 17,603 -30% DSS 17,597 38% 13,345 32% Eliminations (3,203) -7% (2,400) 33% Totals $ 45,767 100% $ 48,104 -5% SEGMENT 2010 GP % 2009 GP % Medical $ 1,867 9.8% $ 2,934 15.0% EMS 907 7.4% 1,018 5.8% DSS 4,252 24.2% 3,420 25.6% Totals $ 7,026 15.4% $ 7,372 15.3% ($ in 000’s, except per share) 1st Quarter Sales 1st Quarter Gross Profit |
 11 Liquidity & Capital Resources Liquidity & Capital Resources ($ in '000) Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Cash and equivalents 20,718 12,012 16,144 30,589 27,281 LOC Availability 3,990 15,461 15,868 16,897 17,769 Total 24,708 27,473 32,012 47,486 45,050 ($ in '000) Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Credit Revolver - - - - - Long Bank Term Debt - - - - - Former Astro Owners 2,031 1,029 1,029 - - IRB (Ohio) 2,000 1,973 1,945 1,917 1,887 Total 4,031 3,002 2,974 1,917 1,887 ($ in '000) Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Net Inventory 35,454 31,888 28,808 26,514 36,629 Cash Availability Debt Inventory |
 12 • Board size reduced from 11 to 9 (8 independent, 1 non-independent) at the 2009 Annual Meeting of Shareholders • Updated the Articles of Incorporation and Code of Regulations • Revised and updated new charters for the Executive, Governance, Compensation, and Audit Committees • Introduced and received approval to declassifying the board with all directors requiring a majority vote threshold in order to be elected at each uncontested annual meeting • Introduced a proposal providing shareholders with an advisory “say-on-pay” vote on named executive officer compensation • Implemented a Short Term Incentive Plan based on annual performance objectives and a Long Tem Incentive Plan based on long term financial metrics in alignment with the interests of the shareholders • Continued oversight related to the Company’s financial reporting process, internal controls, risk management, and legal and regulatory requirements Corporate Governance Corporate Governance |
 13 • Focus on sustained profitability – Continue margin improvements in EMS – Further improvements in operating performance through lean and quality efforts • Implement the strategic growth plan – Anticipate modest organic revenue growth – Enhance the Business Development organization – Develop and launch a new marketing strategy – Invest in new product development • Delphi Medical Systems to be accretive no later than Q3 • Continue to look at complementary and compatible acquisitions Outlook Outlook |
 14 Q & A Q & A |