Liberator Medical holds steady
STUART, Fla. – Liberator Medical’s reported a sales of $17.6 million for its second fiscal quarter ended March 31, 2014, a 5.3% increase compared to the same period in 2013, the company announced May 15. Net income for the quarter was $1.6 million. Cash on-hand was nearly $9.6 million compared with $12.4 million for the quarter ended Sept. 30, 2013. "In the second quarter we encountered our normal seasonal sales weakness associated with the renewal of calendar year deductibles, continued delayed payments due to Medicare's industry wide auditing of medical supply claims and a significant increase in income tax payments,” said Mark Libratore, president/CEO. Liberator began trading on the New York Stock Exchange in November.