Span-America Awarded Federal Contract For Specialty Support Surfaces
Span-America Medical Systems, Inc. (NASDAQ: SPAN) announced today that
it has been awarded a contract with the federal government for ongoing
purchases of the company’s line of proprietary specialty support surface
Span-America Medical Systems, Inc. (NASDAQ: SPAN) announced today that it has been awarded a contract with the federal government for ongoing purchases of the company’s line of proprietary specialty support surface products. The contract with the Department of Veterans Affairs is for a five-year term and includes expected annual sales of approximately $4.0 million. Known officially as a Department of Veterans Affairs Federal Supply Schedule Award, the contract went into effect on October 1 st and runs through September of 2017. It includes an optional extension through 2022. “Span-America has been a valued supplier to Veterans Affairs (“VA”) facilities across the nation for more than two decades,” said Jim Ferguson, president and chief executive officer of Span-America Medical Systems. “We believe this contract highlights our success in providing high-quality products to the Department of Veterans Affairs and the potential to expand our sales to them in the future. We are gratified that Span-America’s products are recognized as an important part of delivering superior care to our nation’s veterans.” Ferguson said the VA contract represents approximately $4.0 million of ongoing business annually, and he expects sales to grow in the coming years as more facilities embrace Span-America’s newest technologies, including its proprietary line of PressureGuard® powered and non-powered air support surface products. “Our Geo-Mattress® and PressureGuard products are always at the top of the list for veterans being treated in the home setting because of their ease of use, stability and effectiveness,” said Heather Hayes, Span-America’s director of corporate accounts. “However, the flexibility and safety features of our new CustomCare® convertible surfaces have really opened doors on the in-patient side of the VA as well.” In addition to the new support surface contract, Hayes noted that Span-America recently renewed its contract to provide specialty seating products to the VA for another five years, taking it through May 31, 2017.
In this series, we look through the most recent Dividend Channel ''DividendRank'' report, and then we cherry pick only those companies that have experienced insider buying within the past six months. The officers and directors of a company tend to have a unique insider's view of the business, and presumably the only reason an insider would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both.