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IntriCon (IIN) Reports 2016 Fourth-Quarter Results



2/17/2017 6:44:33 AM

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ARDEN HILLS, Minn.--(BUSINESS WIRE)--IntriCon Corporation (NASDAQ: IIN), a designer, developer, manufacturer and distributor of miniature and micro-miniature body-worn devices, today announced financial results for its fourth quarter ended December 31, 2016.

Highlights:

Sales to IntriCon’s largest medical customer increased $1.0 million sequentially from the third quarter—sales to this customer in the 2017 first quarter are expected to be at record levels and continue to increase throughout the year;

The company’s value hearing health initiatives delivered year-over-year growth, with Hearing Help Express contributing $1.0 million in fourth-quarter revenue;

IntriCon sharpened its focus on the emerging value hearing health opportunity, exercising its option to acquire 100 percent of Hearing Help Express (HHE). Beginning in the quarter, HHE financial results have been consolidated into IntriCon’s financial statements; and;

The company found a buyer for its non-core cardiac diagnostic monitoring (CDM) business, which is now held for sale and classified as discontinued operations.

Read at BioSpace.com


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