Invacare Archives - Medical Design Sourcing

Invacare slides as restructuring plans will likely lead to lower 2022 revenues

Invacare (NYSE:IVC) shares took a hit today on fourth-quarter results that came in ahead of the consensus forecast.

The Elyria, Ohio-based company posted profits of $1.9 million, or 5¢ per share, on sales of $226.2 million for the three months ended Dec. 31, 2021, for a bottom-line gain out of the red on sales growth of 1%.

Adjusted to exclude one-time items, earnings per share were 8¢, 6¢ ahead of Wall Street, where analysts were looking for sales of $226.19 million.

“Taken together, we believe actions to mitigate increased input costs, elective implementation of pricing actions, narrowing our product offering, and additional restructuring actions will drive favorable product mix, improved profitability and free cash flow in 2022 and build long-term shareholder value,” Invacare Chairperson, President and CEO Matt Monaghan said in a news release.

Invacare is taking strategic actions around organizational restructuring and supply chain …

How medtech fared in the first waves of the pandemic

[Photo by Martin Sanchez on Unsplash]Medtech industry revenue, research spending and employment declined in the first year of the COVID-19 pandemic, according to a Medical Design & Outsourcing analysis of financial data.

Total sales, R&D spending and employment for the world’s largest medical device companies declined in 2020 and early 2021, according to a Medical Design & Outsourcing analysis tallying the ongoing pandemic’s initial toll on the industry.

To compare performance before and during the pandemic, MDO used the financial data that we’ve historically gathered to rank our Big 100 companies in the last three years. The majority of these companies reported full-year results for 2020; others operate on a fiscal year and reported annual results in the first half of 2021.

Some companies are not in this year’s Big 100 but were included in the analysis because they were ranked in pre-pandemic years. The handful of companies that joined this yea…

How medtech fared in the first waves of the pandemic

[Photo by Martin Sanchez on Unsplash]

Medtech industry revenue, research spending and employment declined in the first year of the COVID-19 pandemic, according to a Medical Design & Outsourcing analysis of financial data.

Total sales, R&D spending and employment for the world’s largest medical device companies declined in 2020 and early 2021, according to a Medical Design & Outsourcing analysis tallying the ongoing pandemic’s initial toll on the industry.

To compare performance before and during the pandemic, MDO used the financial data that we’ve historically gathered to rank our Big 100 companies in the last three years. The majority of these companies reported full-year results for 2020; others operate on a fiscal year and reported annual results in the first half of 2021.

Some companies are not in this year’s Big 100 but were included in the analysis because they were ranked in pre…

Invacare rises after hours on mixed bag Q2, reaffirmed guidance

Invacare (NYSE:IVC) shares ticked up after hours on second-quarter results that were mixed compared to the consensus forecast.

The Elyria, Ohio-based company posted losses of -$10.7 million, or -31¢ per share, on sales of $225.9 million for the three months ended June 30, 2021, for a 35.6% bottom-line gain on sales growth of 15.1%.

Adjusted to exclude one-time items, losses per share were -28¢, 5¢ behind Wall Street, where analysts were looking for sales of $214.6 million.

“I want to first thank all our associates who put in extraordinary efforts to support our customers as we all recover from the impacts of the pandemic,” Invacare chairman, president & CEO Matt Monaghan said in a news release. “Through their hard work, we achieved high single-digit constant currency net sales growth, with increases in all product categories.

“Looking forward, profitability and free cash flow are expected to accelerate as we head into o…

Invacare dips 11% on mixed-bag Q1 results

Invacare (NYSE:IVC) posted first-quarter results yesterday that missed the earnings consensus on Wall Street and matched on revenue estimates.

The Elyria, Ohio-based company reported losses of -$14.04 million, or -41¢ per share, on sales of $196.2 million for the three months ended March 31, for a sales loss of -10.16% compared with Q1 2020.

Earnings per share were -36¢, 3¢ behind The Street, where analysts were looking for sales of $196.2 million.

“We entered 2021 with strong demand for lifestyle and respiratory products and strengthening demand for mobility & seating products. We see these trends continuing into the second quarter. Despite good demand, our first quarter revenues were lower by approximately $15 million of firm orders which didn’t ship and become revenue in the quarter as a result of various supply chain disruptions, which impacted all regions. Component delays and parts shortages prevented the timely delivery of confirme…

Invacare, Alber launch wheelchair power assist device

Invacare (NYSE:IVC) and Alber this week launched the Smoov One power-assist solution to assist manual wheelchair users.

Smoove One is a portable, rear-mounted power add-on that uses insights of wheelchair drivers and power assist design experience to increase mobility and range while reducing stress on driver’s shoulders.

“We are excited to introduce such an innovative product to the US market. The SMOOV one is extremely beneficial to our customers’ livelihood and we have already seen great success since its launch last year in Europe. This solution has represented yet another technological leap forward for Invacare and is a great addition to our leading portfolio of mobility products,” Invacare VP of sales and marketing Joost Beltman said in a news release.

Benefits offered by the power assist include a user-friendly design with on-demand power that is easily attached and detached from rigid and folding wheelchairs whenever extra power is needed. …