www.TheStock411.com: Liberator Medical Reports Revenue of $17.6 Million for Its First Fiscal Quarter Ended December 31, 2012; The Company Reports Net Income of $1.4 Million for the Quarter
(M2 PressWIRE Via Acquire Media NewsEdge) STUART, FL, Feb 14, 2013 -- Liberator Medical Holdings, Inc. (OTCBB: LBMH) today announced the financial results for its first fiscal quarter ended December 31, 2012. Sales for the quarter ended December 31, 2012 increased by $2,755,000, or 18.6%, to $17,551,000, compared with sales of $14,796,000 for the quarter ended December 31, 2011. The increase in sales was due to the Company's continued direct response advertising campaign to acquire new customers and strong reorder rates from its recurring customer base during the last quarter of the calendar year. Liberator's direct response advertising expenditure for the quarter ended December 31, 2012, was $2.8 million, compared with $2.7 million for the quarter ended December 31, 2011.
First Fiscal Quarter 2013 Financial Highlights
-- Revenue of $17.6 million, an increase of 18.6% over the last year's
-- Operating margins increased to 12.9% of sales compared with 5.3% a year
-- Net income of $1.4 million, or $0.03 per share, compared with net income
of $0.5 million, or $0.01 per share, for the first quarter last year
-- Cash generated from operations of $1.4 million, an increase of $3.3
million compared with cash used in operations of $1.9 million for the
first quarter last year
-- As of December 31, 2012, the Company had $4.4 million of cash and $4.7
million available from its credit line facility.
Income from operations for the quarter ended December 31, 2012, increased by $1,479,000, or 189.9%, to $2,258,000, compared with the quarter ended December 31, 2011. The increase in operating income is primarily attributed to increased gross profits driven by our increased sales volumes as well as a reduction as a percentage of sales in operating expenses.
Mark Libratore, the Company's President and CEO, commented, "We are very pleased with our financial performance for the first quarter. We increased sales by 19% over last year at higher operating margins and generated $1.4 million in operating cash flows for the quarter. We will continue to manage the levels of our direct response advertising spend to maximize profitability and cash flows for fiscal year 2013. Based on investments we have made in our employees, infrastructure, and technology, we expect to continue to increase our operating margins and cash flows for fiscal year 2013 compared with fiscal year 2012."
Stay up-to-date with current events by visiting Liberator Medical's website at www.liberatormedical.com or by joining the Company's E-Mail Alert List. Join by clicking the following link www.LBMH-IR.com
About Liberator Medical Holdings, Inc.
Liberator Medical Holdings, Inc.'s subsidiary, Liberator Medical Supply, Inc., established the Liberator brand as a leading national direct-to-consumer provider of quality medical supplies to Medicare-eligible seniors. An Exemplary Provider - accredited by The Compliance Team, its unique combination of marketing, industry expertise and customer service has demonstrated success over a broad spectrum of chronic conditions. Liberator is recognized for offering a simple, reliable way to purchase medical supplies needed on a regular, ongoing, repeat-order basis, with the convenience of direct billing to Medicare and private insurance. Liberator's revenue primarily comes from supplying products to meet the rapidly growing requirements of general medical supplies, personal mobility aids, diabetes supplies, catheters, ostomy supplies and mastectomy fashions. Liberator communicates with patients and their doctors on a regular basis regarding prescriptions and supplies. Customers may purchase by phone, mail or internet, with repeat orders confirmed with the customer and shipped when needed.
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