Liberator Medical Reports Record Revenue For Its Third Fiscal Quarter Ended June 30, 2010
STUART, Fla., Aug. 16, 2010 (GLOBE NEWSWIRE) -- Liberator Medical Holdings, Inc. (OTCBB:LBMH) today announces the financial results for its fiscal third quarter ended June 30, 2010, including record net revenue of $10.62 million and net income of $798 thousand.
Fiscal Third Quarter 2010 Highlights
- Net revenue for the third quarter ended June 30, 2010, was $10.62 million, an increase of 52.8% from $6.95 million for the quarter ended June 30, 2009.
- Gross profit for the third quarter ended June 30, 2010, was $6.94 million, an increase of 56.2% from $4.44 million for the quarter ended June 30, 2009.
- The Company's operating expenses for the three months ended June 30, 2010, were $6.0 million, or 56.5% of revenue, compared to $3.37 million, or 48.5%, of revenue for the three months ended June 30, 2009.
- Net income remained relatively flat at $798 thousand compared with $794 thousand for the quarter ended June 30, 2009.
- The Company had $6.889 million in cash as of June 30, 2010.
Mark Libratore, the Company's President and CEO, commented, "This is our 8th consecutive quarter of earnings and our 10th consecutive quarter of sales growth. Our additional staffing and infrastructure performed as expected. We still have ample excess capacity both in call-center and operational facilities. We believe that we are well positioned to continue to grow our sales and improve profitability over the long term."Revenues: Sales for the three months ended June 30, 2010, increased by $3,669,000, or 52.8%, to $10,619,000, compared with sales of $6,950,000 for the three months ended June 30, 2009. The increase was due to a substantial direct response advertising campaign to obtain new mail order customers. Sales for the nine months ended June 30, 2010, increased by $11,309,000, or 62.4%, to $29,428,000, compared with sales of $18,119,000 for the nine months ended June 30, 2009, as a result of the direct response advertising campaign.
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