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TheStreet Open House

Rochester Medical's CEO Discusses F2Q11 Results - Earning Call Transcript

These statements further clarify the risks and uncertainties that are associated with the forward-looking statements. Now before we review the financials, I would like to first explain the new labels for our sales categories. What we had formally refer to as branded sales will now be referred to as direct sales. This terminology better characterizes our growing product line, now that we have closed on the Laprolan acquisition.

We will continue to sell products directly out of the Rochester medical brand, our Laprolan, which sells Rochester medical brand products also sells other unique brands that we have under license or contract.

In addition as many of you know products sold under our Script-easy prescription brand in the U.K. often carry other manufacturers' labels. As far as sales to private label customers we will continue to refer to that segment as private label sales as before.

Regarding the direct sales category we will also be breaking out direct sales into our two sales channels; home care and acute care. Acute care represents sales to hospitals and homecare refers primarily to sales to individuals in the home as well as to home health care distributors. This new break out of direct sales by channel will give more clarity to the fact that most of our sales are to the home care market.

And that should help investors better assess our growth as we continue to penetrate this market which we estimate comprises about two-thirds of the $1.5 billion opportunity for our products in North America and Europe.

At the same time we are making meaningful inroads into the acute care market, which presents an excellent opportunity in its own right. Currently 73% of our US direct sales and 95% of our direct sales in Europe and the Middle East are via the homecare channel.

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