Electromed Inc. (NSDQ:ELMD) was just shy of raising its profits during fiscal 2011, on the strength its fourth-quarter numbers.
The New Prague, Minn.-based airway clearance device firm, which took itself public a year ago, posted profits of $165,000, or 2 cents per share, on sales of $5.0 million during the three months ended June 30. That compares with net income of $71,000, or 1 cent per share, on sales of $3.6 million during the same period last year.
For the full fiscal year, Electromed reported profits of $1.1 million, or 13 cents per diluted share, on sales of $19.0 million; net income during FY2010 was $916,000, or 15 cents per diluted share.
The company cited the expansion of its sales force both for the top-line growth; the FY2011 EPS decline was chalked up to dilution stemming from its August 2010 IPO.
"Electromed Inc. is a rapidly growing company. It is using a portion of the capital received from its IPO to grow its sales force and support its infrastructure," chairman and CEO Robert Hansen said in prepared remarks. "We believe these actions are essential investments in driving longer-term profitable results. We have also continued to make important investments in research and development. We believe that new innovations are the surest path to sustainable growth and higher profits. We have pursued these investments while maintaining solid profitability and a strong balance sheet."
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days:
pSivida plunges into the red during Q4, FY2011
pSivida Corp. (NSDQ:PSDV) plunged into the red during the fourth quarter and fiscal 2011. The Watertown, Mass.-based ophthalmic drug-device combo maker posted losses of $140,000, or 1 cent per diluted share, on sales of $3.7 million for the three months ended June 30.
That compares with profits of $13.1 million, or 68 cents per diluted share, on sales of $15.7 million for the same period last year.
For the full fiscal year, pSivida reported losses of $8.6 million, or 44 cents per diluted share, on sales of $5.0 million; during FY2010, the company logged profits of $8.8 million, or 46 cents per diluted share, on sales of $23.1 million. Read more
Q3 profits slide for Cooper Cos. despite 19 percent sales boost
Third-quarter profits dipped for the Cooper Cos. (NYSE:COO) despite an 18.9 percent addition to its top line.
The Pleasanton, Calif.-based ophthalmic device maker reported net income of $38.1 million, or 78 cents per diluted share, on sales of $351.4 million for the three months ended July 31. That compares with profits of $39.7 million, or 86 cents per diluted share, on sales of $295.6 million during the same period last year. Read more
The Swedish health IT and device maker reported profits of about $2.4 million (SEKM 16.0) on sales of roughly $25.3 million (SEKM 169.0) for the three months ended July 31. That compares with profits of $1.9 million (SEKM 13) on sales of $25.8 million (SEKM 173) during the same period last year. Read more