NEW PRAGUE, Minn.--(BUSINESS WIRE)--Electromed, Inc. (NYSE MKT: ELMD), today announced financial results for the 2012 fourth quarter and fiscal year, ended June 30, 2012.
Fourth Quarter Results
Net revenues for the fiscal 2012 fourth quarter were $4.6 million, compared with net revenues of $5.0 million for the same period last year. Net loss for the quarter was $179,000, or ($0.02) per diluted share, compared to net income of approximately $165,000, or $0.02 per diluted share, for the comparable fiscal 2011 period. Although the number of prescriptions for the Company’s SmartVest® Airway Clearance System rose in the fourth quarter, revenue was impacted negatively by reimbursement factors. These factors included lower allowable reimbursement amounts with certain insurance carriers and group purchasing organizations that renewed contracts with Electromed during the quarter.