Customer retention pays off at Liberator Medical
STUART, Fla. – Liberator Medical Holdings reported net sales of $20.2 million for the three months ended Dec. 31, 2014, an 8.5% increase compared to the same period in 2013.
The increase was primarily due to the company’s continued emphasis on a direct response advertising campaign to acquire new customers and its emphasis on customer service to maximize reorder rates.
“Our growth this quarter was driven by a 10% improvement in revenue from our existing customers,” stated Mark Libratore, president and CEO, in a press release. “Customer retention has been and will continue to be a priority.”
Liberator reported net income of $2.4 million, a 14.2% increase.
The company also reported cash of $11.95 million as of Dec. 31, 2014, compared to cash of $12.26 million as of Sept. 30, 2014, a decrease of $307,000. The decrease was due to $1.75 million of cash used in investing activities, partially offset by $1.46 million of cash provided by operating activities.