Liberator Medical Holdings Inc., parent company to medical supplies provider Liberator Medical Supply Inc., yesterday posted its second-quarter results for the three-month period ended March 31, 2010.
The company reported net revenues of $9.65 million for its second fiscal quarter ended March 31, 2010, up 65.6 percent from $5.82 million for the same quarter of fiscal 2009. The company attributes the increase to its direct response advertising campaign.
Net income for the three months ended March 31, 2010, increased 169% to $256,000 compared to net income of $95,000 for the three months ended March 31, 2009.
Gross profit for the second quarter of 2010 increased 67.1 percent to $6.26 million compared with gross profit of $3.74 million for the three months ended March 31, 2009.
Mark Libratore, the company’s founder and CEO, noted the company’s ability to overcome quarterly obstacles and generate sales.
“We are very pleased with the results for the quarter, given its seasonal challenges combined with the expansion of our infrastructure and the addition of 80 employees over the last six months. The second fiscal quarter is typically the most seasonally challenging quarter due to the annual renewal of our customers’ insurance coverage and calendar year deductibles that must be met at the beginning of each calendar year,” Libratore stated. “In spite of these challenges, we were able to grow our sales primarily as a result of new customers generated from our direct response advertising efforts. Net income for the quarter was pressured from higher than average direct response advertising costs and the expansion of our infrastructure to support significantly higher sales.”
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