Electromed

Electromed (NSDQ:ELMD) posted second-quarter results this week that beat the overall consensus on Wall Street.

The New Prague, Minnesota-based airway clearance maker reported profits of $838,000, or 10¢ per share, on sales of $10.2 million for the three months ended Dec. 31, 2021, for a sales growth of 7.92% compared with Q2 2020.

Earnings per share were 10¢, 3¢ ahead of The Street, where analysts were looking for sales of $9.7 million.

“I’m very pleased to report our second consecutive quarter of record revenue, driven by strong results in our flagship home care segment, with 14.2% growth in-home care revenue in the first six months of our fiscal year compared to the same period in the prior year. Despite difficult macroeconomic conditions and another surge in the COVID-19 pandemic, the team clearly executed at a high level, and we believe these results demonstrate the benefits of our strategic growth initiatives,”  CEO Kathleen Skarvan said in a news r…

Electromed (NSDQ:ELMD) shares dipped slightly after hours today despite third-quarter results that topped the consensus forecast.

The New Prague, Minn.-based company posted profits of $223,771, or 3¢ per share, on sales of $8.8 million for the three months ended March 31, 2021, for a -65.7% bottom-line slide on sales growth of 0.5%.

Electromed’s EPS of 3¢ came in just ahead of Wall Street’s projection of breakeven on earnings, while revenues also beat projections from the analysts, who were looking for sales of $8.4 million.

“Although this winter’s resurgence of new COVID-19 cases and hospitalizations dampened our home care revenue in January and February, we noted a sharp rebound in March, during which we achieved record monthly referrals and revenue,” Electromed president & CEO Kathleen Skarvan said in a news release. “In March, we benefited from increased patient visits to clinics and greater access for our sales representa…

Electromed (NSDQ:ELMD) shares ticked up today on second-quarter results that topped the consensus earnings forecast.

The New Prague, Minn.-based airway clearance therapy technology developer posted profits of $1.2 million, or 13¢ per share, on sales of $9.5 million for the three months ended Dec. 31, 2020, for a 1.6% bottom-line gain on sales growth of 11.1%.

Adjusted to exclude one-time items, earnings per share were also 13¢, coming in 11¢ ahead of Wall Street projections.

“In the second quarter we continued to adapt successfully to healthcare system disruption caused by the COVID-19 pandemic,” Electromed president & CEO Kathleen Skarvan said in a news release. “Our strong execution of a hybrid virtual and face-to-face selling approach combined with the ability for prescribers to more easily provide care via the provisional CMS waiver drove a 16.1% increase in home care revenue compared to the prior-year period. The home care success mo…

Electromed (NSDQ:ELMD) shares dipped slightly today despite fourth-quarter results that topped the consensus forecast.

The New Prague, Minn.-based airway clearance therapy technology developer posted profits of $1.3 million, or 15¢ per share, on sales of $6.9 million for the three months ended June 30, 2020, for a 20.1% bottom-line gain despite a sales decline of -20.1%.

Electromed’s 15¢ per share earnings came in 30¢ ahead of projections on Wall Street, where analysts were looking for sales of $5.7 million.

The company attributed dips in revenues and gross profits to the COVID-19 pandemic, which slowed down the industry over the past several months and resulted in fewer referrals and less home care.

“In fiscal 2020 we delivered revenue growth and record profitability, despite a challenging fourth quarter during which the COVID-19 pandemic significantly impacted our operating and financial results,” Electromed president & CEO Kathl…

Electromed has appointed Michael MacCourt as chief financial officer.

MacCourt brings nearly two decades of financial leadership and multidimensional business experience in medical devices to the company, Electromed said yesterday.

Prior to joining Electromed, MacCourt was the senior director of commercial finance at Starkey Hearing Technologies. He has also spent over nine years in leadership roles at Medtronic and has a consulting background at PricewaterhouseCoopers.

“On behalf of our Board of Directors and management team, I am delighted to welcome Mike to Electromed. He is a dynamic financial executive with a strong track record of building high-performing teams, solving complex business problems, driving market development and optimizing the finance function through a collaborative leadership style. In Mike, we found an incredible cultural fit. He is a high-energy team player with a keen strategic mind, complemented by top-notch financial and…