Liberator Medical Holdings Inc. operates through its subsidiary Liberator Medical Supply Inc. as a branded, national direct-to-consumer provider of medical supplies to Medicare-eligible seniors. The company today posted its fiscal year and fourth-quarter financial results 2010.
Liberator posted net revenues for fiscal year 2010 at $40,919,000, an increase of 58.5 percent compared with fiscal year 2009. The company attributes the increase in sales primarily to its continued emphasis on its direct response advertising campaign, which cost the company $10,808,000 for 2010, a 157.9 percent increase compared to fiscal year 2009 campaign expenditures.
For the fourth fiscal quarter the company reported net revenues of $11.49 million, a 49 percent increase compared to fourth fiscal quarter 2009 net revenues of $7.70 million.
Gross profit for fiscal year 2010 increased 58.5 percent to $26,570,000, compared with fiscal year 2009.
Income from operations was reported at $4,627,000 compared to income from operations of $3,289,000 for the fiscal year ended September 30, 2009. Fiscal fourth quarter 2010 operating income was reported at $2,164,000.
The company reported net income of $2,600,000, or $0.07 per share, for fiscal year 2010, compared to net income of $2,222,000 for fiscal year 2009. Fourth quarter 2010 net income was $692,000, or $0.018 per share.
Mark Libratore, Liberator CEO, said the company has demonstrated its ability to withstand broader economic concerns and is backed by a solid balance sheet.
“We have experienced tremendous growth over the past three fiscal years despite the downturn in the U.S. economy. We have a strong balance sheet with over $7 million in cash and minimal debt. Approximately 50 percent of each of our facilities is available for future growth, which positions the company very well to grow our sales and improve profitability over the long term. The outlook for demand for our products and services is favorable, as our products are not variable or seasonal and there should be an increase in newly-diagnosed patients requiring the medical supplies that we provide,” Libratore stated in the press release.
For more information visit www.liberatormedical.com
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