Invacare up

Sunday, May 31, 2009

ELYRIA, Ohio--Invacare in April reported net earnings of $2.4 million for the first quarter of 2009, compared to $2.2 million a year ago. The increase was attributed to organic sales growth, cost reductions and a lower effective tax rate. Net sales for the quarter decreased 4.4% to $398 million, compared to $416.3 million last year. Organic net sales grew 2.1% year-over-year, driven mainly by 7.1% organic growth in North America/Home Medical Equipment. Organic net sales growth is expected to be 4% to 6%, excluding any impact from acquisitions and foreign currency adjustments. European net sales for the quarter decreased 14%.