Inogen posts ‘strong quarter’ says CEO Wilkinson

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Friday, August 4, 2017

GOLETA, Calif. – Inogen on Thursday reported revenues of $64.1 million for the second quarter of 2017, a 17.5% increase compared to the same period last year. Sales revenue was $58 million, up 27.3%; and rental revenue was $6.1 million, down 32.3%. Net income was $8.3 million for the second quarter, an 11.3% increase compared to the same period last year. “The second quarter of 2017 was a strong quarter for us, particularly in our domestic business-to-business and direct-to-consumer channels, and we are proud of our success in driving demand for our innovative oxygen concentrators,” said CEO Scott Wilkinson. “We are executing on our strategic initiatives and remain focused on increasing adoption of our best-in-class product offerings across all of our channels.” Inogen said it is increasing its guidance range for 2017 revenues to $239 million to $243 million, representing year-over-year growth of 17.8% to 19.8%, compared to a previous guidance of $233 million to $239 million. It’s increasing the guidance range for 2017 net income to $25 million to $27 million, representing 21.8% to 31.6% year-over-year growth, compared to previous guidance of $22 million to $24 million.

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