Electromed (NSDQ:ELMD) posted first-quarter results today that beat the consensus forecast on Wall Street.
The New Prague, Minn.-based company reported profits of $1 million, or 12¢ per share, on sales of $8.3 million for the three months ended Sept. 30, 2019, for a bottom-line gain of 536.1% sales growth of 13.7% compared with Q1 2019.
Adjusted to exclude one-time items, earnings per share were 12¢, 11¢ ahead of The Street, where analysts were looking for sales of $7.4 million.
“We delivered strong revenue and net income, driven by top-line growth of 14.1% and significant operating margin improvement compared to the prior year period. Home care revenue grew by 11.4% compared to our prior first quarter as we executed on our strategy to drive growth organically and achieved our second consecutive quarter of improved sales team productivity,” president and CEO Kathleen Skarvan said in a news release.
“This quarter we produced approximately $879,000 of annualized home care revenue per direct field sales employee, slightly exceeding our target productivity range of between $750,000 and $850,000. Our institutional sales also performed well, with first quarter revenue up 49.2% year-over-year. We believe the sales restructuring, new sales leadership appointments, enhanced sales training programs and targeting approaches we initiated in the prior fiscal year, combined with our focus on cost containment, contributed to improved financial results for what is typically a seasonally light first quarter for Electromed,” Skarvan said.
Shares in EMLD were up 10.12% to $10.23 apiece in early morning trading.
