Electromed, Inc. Reports 2012 Second Quarter Results
2/14/2012 7:54:59 AM
NEW PRAGUE, Minn.--(BUSINESS WIRE)--Electromed, Inc. (NYSE Amex: ELMD) today announced financial results for the three-month period ended December 31, 2011. Net Revenues for the three months ended December 31, 2011, were approximately $4,790,000, a 2.2% increase compared to Net Revenues of approximately $4,686,000 for the same period last year. The Company also announced Net Income of approximately $25,000, or $0.00 per basic and diluted share, for the three months ended December 31, 2011, compared to Net Income of approximately $292,000, or $0.03 per basic and diluted share, for the same period last year. The reduction in Net Income results was attributable to missed sales goals reflecting underperformance by a number of former Clinical Area Managers. This resulted from termination-driven turnover of approximately 16% of the sales force. Management continues to believe that planned increases in the Company’s sales force, reimbursement and production personnel, coupled with the expansion of marketing and research and development efforts, will provide strong impetus for continued solid annual sales growth.
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