Tag: Matt Monaghan

ELYRIA, Ohio – Invacare expects to ship $15 million worth of back orders in the next two quarters, which will give the company a nice lift going into the back half of 2021.  Invacare reported a 10.2% decrease in net sales for the first quarter this year compared to the same period last year, primarily due to the impacts of the COVID-19 pandemic, including continued limited access to health care, and to supply chain disruptions.  “Our first quarter results were...

ELYRIA, Ohio – Invacare reported net sales decreased 10.2% to $196.2 million in the first quarter of 2021 compared to the same period in 2020.  The company says revenue growth in respiratory products was more than offset by lower sales of mobility and seating and lifestyle products, which continue to be impacted by the COVID-19 pandemic, as well as supply chain disruptions that hampered its order fulfillment during the quarter.   "We entered 2021 with strong demand for...

ELYRIA, Ohio - Invacare sees “encouraging signs” that the demand for mobility and seating products is recovering from a slowdown related to the COVID-19 pandemic. Order rates were up in July and into August, Matt Monaghan, chairman, president and CEO, told investors during a recent conference call to discuss the company's second quarter financial results. “In mobility and seating, the good momentum we had in the first quarter began to slow in early parts of the second quarter as...

ELYRIA, Ohio - Invacare reported a net sales decrease of 16.8% to $196.3 million for the second quarter of 2020. Adjusted EBITDA improved by $3.3 million to $6.6 million. Operating loss improved by $2.3 million, or over 50%, to a loss of $2.2 million due to reduced SG&A expenses. “We achieved higher year-over-year adjusted EBITDA for the 11th consecutive quarter and have established a strong track record of continued improvement, despite a pandemic which reduced constant currency net sales...

ELYRIA, Ohio - Invacare has provided an update on its “transformation and growth plan,” including an overhaul of its North America sales organization.The company has appointed Joost Beltman vice president of sales and marketing for North America, and Keith Brantly director of CRT sales.“These are exciting key roles for us to have filled with strong talent,” said Matthew Monaghan, chairman, president and CEO.Beltman joined Invacare in 2008 as country manager for the Netherlands...

ELYRIA, Ohio - Invacare had a bumpy third quarter, courtesy of Medicare's competitive bidding program and new tariffs.The company says its North America HME division experienced significantly higher costs from materials sourced both domestically and internationally due to tariffs—to the tune of $1.3 million for the quarter.“We'll continue to implement actions to mitigate the impact of tariffs on our business,” including potentially redesigning products to lower the use of raw materials,...

ELYRIA, Ohio - Company officials at Invacare are looking for good news where they can find it. For the third quarter of 2017, it's the sequential growth in net sales for North America/Home Medical Equipment.Invacare reported net sales of $79.5 million for the business unit for the third quarter vs. $77.7 million for the second quarter, a 2.3% increase.“We were thinking we would have a flat third and fourth quarter—a couple of quarters to reflect a flat bottom to rebound—and we had...

ELYRIA, Ohio - Despite the excitement surrounding its recent clearance by the U.S. Food and Drug Administration to resume full operations at its Taylor Street manufacturing facility, Invacare CEO Matt Monaghan told investors Aug. 8 that the company is still trying to “report some conservatism.”Monaghan expects Invacare's financial results to stabilize in the second half of 2017, but there are a number of factors that are tempering a rebound right out of the gate.“I want to end the...

ELYRIA, Ohio - Now that Invacare has made significant progress toward lifting a consent decree with the U.S. Food and Drug Administration, it's paving the way to launch a robust pipeline of new products later this year, company officials told analysts during an earnings call May 9.In the first half of 2017, Invacare expects continued lower net sales—offset by favorable sales mix and increased gross margin as a percent of net sales—but by the end of the year, it expects a “sustainable...