Electromed, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended September 30, 2016; Effective Tax Rate Guidance for the for Full Year of Fiscal 2017
November 08, 2016 at 04:30 pm EST
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Electromed, Inc. reported unaudited consolidated earnings results for the first quarter ended September 30, 2016. For the quarter, the company reported net revenues of $5,545,363 against $5,001,188 a year ago. Operating income was $288,879 against $585,168 a year ago. Net income before income taxes was $272,172 against $564,962 a year ago. Net income was $191,172 against $340,962 a year ago. Basic and diluted per share was $0.02 against $0.04 a year ago. Net cash used in operating activities was $1,215,869 against net cash provided by operating activities of $311,430 a year ago. Expenditures for property and equipment were $49,462 against $101,006 a year ago. Expenditures for finite-life intangible assets were $21,494 against $13,829 a year ago.
The company anticipates that its full year effective tax rate for fiscal 2017 will return to its normalized rates.
Electromed, Inc. develops, manufactures, markets and sells products that provide airway clearance therapy, including the SmartVest Airway Clearance System, to patients with compromised pulmonary function. The Company applies High Frequency Chest Wall Oscillation (HFCWO) technologies in pulmonary care for patients of all ages. The SmartVest Clearway System consists of an inflatable therapy garment, a programmable air pulse generator and a patented single-hose that delivers air pulses from the generator to the garment to create oscillatory pressure on the chest wall. Its SmartVest Connect wireless technology is a personalized HFCWO therapy management portal for patients with compromised pulmonary function. The SmartVest Connect app securely connects to the SmartVest System through Bluetooth technology. The Company also markets the Single Patient Use (SPU) SmartVest and SmartVest Wrap to health care providers in the acute care setting.
Electromed, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended September 30, 2016; Effective Tax Rate Guidance for the for Full Year of Fiscal 2017