Investments pay off at Liberator Medical
STUART, Fla. – Liberator Medical has reported $11.75 million in gross profits for the third quarter of 2014 compared to $10.89 million for the same period last year, a 7.6% increase. Net sales increased 6.2% to $18.58 million as a result of a direct response advertising campaign to new customers and an emphasis on customer service to maximize reorders. “During our fiscal third quarter, we made key investments in our organizational infrastructure to improve the efficiency and performance of our customer-facing staff,” said Mark Libratore, president and CEO, in a press release. “We are investing in acquiring and serving our customers, which is central to our mission as a healthcare products provider and to achieving the maximum return on our advertising expenditures.” Net income, however, dropped 1.5% to $1.98 million. For the nine months ended June 30, 2014, Liberator reported gross profits of $34.42 million, a 5.9% increase over the same period last year; net sales of $54.83 million, a 5.9% increase; and net income of $5.72 million, a 19.4% increase.