Respiratory drives Invacare sales

Sunday, February 29, 2004

ELYRIA, Ohio - Invacare rang up $343 million in sales during the fourth quarter, up 22% over last year’s tally. Foreign currency gains made up six points of that growth, while acquisitions represented another six points. Net earnings jumped to $23.7 million for the quarter, up from $17.6 million last year.

North American sales increased 25% to $251 million. Leading the charge was Invacare’s respiratory group, which posted a 53% boost over last year. Invacare credited concentrator and Venture HomeFill II gains as the principle drivers on the respiratory side.

Rehab sales jumped 44% thanks to strong sales in consumer power and custom power. Excluding acquisitions, rehab sales grew by 33%.

Standard products sales grew by just 2%.

Despite reimbursement pressures and the compromised K0011 power wheelchair market, Invacare is still forecasting sales gains of 10-12% for 2004.