Electromed (ELMD) Reports Q2 EPS of $0.04

Electromed (NYSE: ELMD) reported Q2 EPS of $0.04. Revenue for the quarter came in at $7 million.

Q2 FY 2018 Highlights

• Net revenue increased 9.6% to $7.0 million from $6.4 million during the three months ended December 31, 2016 (“Q2 FY 2017”), driven by an 18.2% year-over-year increase in home care revenue.
• Gross profit rose 13.4% to $5.6 million from $4.9 million in Q2 FY 2017.
• Selling, general and administrative expenses increased 16.2% to $4.8 million, from $4.1 million in Q2 FY 2017, primarily reflecting the hiring of new employees to support revenue growth initiatives.
• Operating income grew 5.6% to $770,000, from $729,000 in Q2 FY 2017.
• Net income equaled $349,000, or $0.04 per diluted share, compared to $444,000, or $0.05 per diluted share, in Q2 FY 2017.
• Net income for Q2 FY 2018 included a non-recurring discrete deferred tax expense of $160,000 related to the Tax Cuts and Jobs Act (“the Tax Act”). On a go-forward basis, the Tax Act reduces the statutory corporate federal tax rate from 34% to 21%, effective January 1, 2018, and is estimated to benefit the Company’s after-tax net income by approximately 13% beginning in fiscal 2018, as well as positively impact earnings per share and cash flow.
• Cash flow from operations totaled $1.2 million, compared to $1.3 million in Q2 FY 2017.
• Field sales employees grew to 43 at the end of Q2 FY 2018 from 35 at the end of Q2 FY 2017.

For earnings history and earnings-related data on Electromed (ELMD) click here.

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