Tag: Matthew Monaghan

ELYRIA, Ohio - Invacare's net sales and net income were off for the year, but “2017 was a tremendous year of progress,” says Matthew Monaghan.Invacare reported net sales of $966.5 million for all of 2017 compared to $1.04 billion for all of 2016. It reported a net loss of $76.5 million vs. $42.9 million.“We've made tremendous progress toward restoring the company's long-term earnings potential,” said Monaghan, the company's chairman, president and CEO, citing quality milestones,...

ELYRIA, Ohio ­- Invacare looks forward to re-introducing providers to a “different company” now that it has the green light to resume full operations at its corporate headquarters and Taylor Street facilities.The U.S. Food and Drug Administration notified Invacare in a letter dated July 24 that the company has satisfied requirements under a consent decree that has limited its ability to make and sell products from the facilities for nearly five years, since December 2012.“When I...

ELYRIA, Ohio - Matthew Monaghan wants investors to look past the net losses and sales decreases that dominate Invacare's latest financial results.During an Oct. 31 conference call to discuss Invacare's results for the third quarter, Monaghan, chairman, president and CEO, outlined a three-phase transformation that he believes will, ultimately, land the company with more than $1.1 billion in net sales on a constant currency basis and with gross profit of more than 30%.“I want to put today's quarterly...

ELYRIA, Ohio - Invacare on Oct. 31 reported a net loss of $5 million for the third quarter of 2016 compared to $7.8 million for the same period last year. It reported net sales of $268.1 million vs. $283.8 million.Invacare reported a net loss of $25.2 million for the nine months ended Sept. 30, 2016, compared to $23.3 million for the same period last year.For North America HME, Invacare reported net sales of $98 million for the third quarter of 2016, a 14.5% decrease compared to the same period last...

ELYRIA, Ohio - Invacare's name has been popping up on the job board of RESNA, an association of rehab and assistive technology professionals, quite a bit recently, and there's good reason for it.The company, which seeks rehab sales specialists across the country, has made no secret in recent earnings calls that it's in the process of retraining much of its sales force to be specialists instead of generalists in not only complex power wheelchairs but also home oxygen therapy and on down its product...

ELYRIA, Ohio - Invacare posted first quarter losses last week, but if you look at the company as a “long-term turnaround,” you'll see some short-term improvements, says top exec Matthew Monaghan.Invacare reported a net loss of $8.6 million for the first quarter of 2016 compared to a net loss of $7.3 million for the same quarter last year. It reported net sales of $257.6 million vs. $289 million.For North America HME, which has been hardest hit by a consent decree with the U.S. Food and...

ELYRIA, Ohio - Invacare's sales were soft in the third quarter, but Matthew Monaghan, chairman, president and CEO, remains bullish on the company's growth.During a conference call to discuss third quarter financial results, Monaghan told investors and analysts that Invacare continues to shift its sales team from being generalists to specialists, especially for complex rehab.“The enhancements to the sales team will continue ad nauseam,” he said. “The clinical requirements for selling...

ELYRIA, Ohio - Invacare is a company in transition, Chairman, President and CEO Matthew Monaghan told investors during a conference call on July 23 to discuss the company's financial results for the second quarter of 2015.“As CEO, I've spent the last few month focusing the organization on two critical priorities: building a strong sustainable quality culture, and generating profitable growth,” he said. “There are a number of transition activities underway to make that happen, primarily...

ELYRIA, Ohio - The second quarter of 2015 saw another loss in sales for Invacare.North America/HME net sales were $119 million, compared to $134.3 million a year ago, the company reported in its earnings report, released this morning. For the first six months of 2015, the business had net sales of $244.2 million, compared to $258.9 million during the same period last year.“In the North America/HME business, sales were lower as a result of a number of transitional issues,” said President...

Elyria, Ohio-based Invacare has announced that its shareholders have elected to the board Matthew Monaghan, the company's president and CEO, and Clifford Nastas, a director of the Dan T. Moore Company and president of a group of its automotive and advanced materials operating companies. Shareholders have also appointed Monaghan as chairman of the board. The interim chairman, Dr. C. Martin Harris, will return to his role as independent lead director…EY has announced that Harvey Diamond, chairman of...