NEW PRAGUE, Minn.--(BUSINESS WIRE)--Electromed, Inc. (NYSE MKT:ELMD) today announced financial results for its first quarter ended September 30, 2015.
Net revenues for the first quarter of fiscal 2016 were $5.0 million, a 4.8% increase compared to the first quarter of fiscal 2015. Growth in total net revenues was attributable to strong results in the home care market where revenue increased by approximately 12.3%, or $0.5 million, compared to the same period of fiscal 2015. Home care sales increased due to a higher number of approvals and higher average selling price from third party payers, such as insurance companies, Medicare and Medicaid, for the Company’s Smartvest® products.
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