Tag: Matthew Monaghan

ELYRIA, Ohio – Invacare saw a 72.2% increase in respiratory sales for the fourth quarter in North America and a 40.1% increase for 2020 due to increased demand for oxygen concentrators during the COVID-19 pandemic.  Invacare reported $18.7 million in net sales for respiratory products in the fourth quarter and $72.3 million for 2020.  “We see high demand for all modalities of oxygen increasing,” said Matthew...

ELYRIA, Ohio – Invacare reported net sales of $224 million for the fourth quarter of 2020, an 8.9% decrease compared to the same period in 2019.   But there were several improvements from the third to fourth quarter, says Matthew Monaghan, chairman, president and CEO.  “In the fourth quarter we achieved improvement in sequential consolidated net sales of 5.7% and constant currency sequential net sales of 4.2%, driven by continued respiratory strength, increased sales...

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...