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Sharps Compliance Reports $5.4 Million In Revenue In Third Quarter Fiscal 2013

Stocks in this article: SMED

Focused sales and marketing initiatives delivers momentum

Retail market billings increased $0.3 million, or 24.7%, to $1.7 million, compared with the prior-year period. The year-over-year increase reflected increased sales of the Complete Needle Collection & Disposal System and TakeAway Environmental Return Systemâ„¢ solutions. Billings to this market were up 21.6% over the trailing second quarter, driven by carryover orders from the 2012 flu shot season and advance orders for the 2013 flu shot season as well as increased sales of the Complete Needle Collection & Disposal System and TakeAway Environmental Return Systemâ„¢ solutions.

Professional market billings grew $0.1 million, or 7.4%, to $0.9 million in the third quarter of fiscal 2013. The growth in this market was a direct result of the Company's targeted telemarketing initiatives and promotional activities to educate doctors, dentists and veterinarians of the significant cost advantage and convenience of the Company's Sharps ® Recovery System when compared with the traditional pick-up service for the small quantity generator sector. The Company's inside and online sales channel, which is focused primarily on the Professional market, realized a 22.0% increase in billings to $0.8 million in the fiscal 2013 third quarter from $0.6 million in the prior year period. Offsetting the growth from the inside and online sales channel were lower sales for the quarter through the distributor network due to the timing of orders.

Third quarter pharmaceutical market billings decreased $0.5 million, or 61%, to $0.3 million. Billings to this market tend to be program related and, therefore, can be highly variable from quarter to quarter until programs mature. The comparable period for the fiscal 2012 third quarter was atypically strong as it included the roll-out period for two new Patient Support Programs and the initial launch of a third Patient Support Program.

Third quarter Home Health Care billings were $1.5 million, up 4.1% over the prior year period, while Assisted Living/Hospitality billings were $0.4 million, up 10.9% for the quarter.

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