Liberator’s revenues up, income down
STUART, Fla. – Liberator Medical Holdings has reported net revenues of $20.4 million for its fiscal third quarter ended June 30, 2015, a 9.7% increase compared to the same period last year.
It reported a net income of $1.7 million vs. $2 million, a 15.8% decrease.
The increase in revenues was due primarily to Liberator Medical’s continued emphasis on its direct response advertising campaign to acquire new customers.
The decrease in income was due to a one-time expense of $600,000 associated with an agreement to settle a civil qui tam lawsuit in which the company, among others, was charged with violating the False Claims Act for engaging in illegal kickback arrangements with Coloplast. The other defendants named in the lawsuit are Hollister, 180 Medical, A-Med Health Care Center, Byram Healthcare Centers, CCS Medical, RGH Enterprises d/b/a Edgepark Medical Supplies, and Shield California Health Care Center.
Liberator Medical has reported net revenues of $60.3 million for the first six months of 2015, a 9.9% increase over the same period last year. It reported a net income of $5.8 million vs. $5.7 million, a 1.2% increase.