Intricon Corporation (IIN) Misses Q4 EPS by 7c, Revenues In-Line; Offers FY19 Revenue Outlook

Intricon Corporation (NASDAQ: IIN) reported Q4 EPS of $0.09, $0.07 worse than the analyst estimate of $0.16. Revenue for the quarter came in at $30.8 million versus the consensus estimate of $30.28 million.

• Record quarterly revenue of $30.8 million, a 41.1 percent increase over the prior-year fourth quarter;
• Gross margin of 30.0 percent, consistent with the comparable prior-year period;
• Net income per share of $0.09 versus $0.05 in the 2017 fourth quarter;
• Grew revenue from its largest medical customer by 74.8 percent compared to fourth quarter 2017;
• Increased indirect-to-end-consumer hearing healthcare revenue by 79.9 percent year over year;
• Continued buildout of infrastructure to meet future demand;
• Acquired source code from Soundperience for its Sentibo Smart Brain self-fitting software; and
• Hired Doug Pletcher as vice president of medical biotelemetry business development.

“Our medical and indirect-to-end-consumer value hearing health businesses continued to drive strong top-line performance, leading to another quarter of record revenue,” said Mark S. Gorder, president and chief executive officer of IntriCon. “I’m pleased with the meaningful progress we made in 2018 towards advancing our key growth initiatives, bolstering our medical leadership team, and expanding our technology.

“I am confident that we are entering 2019 in our strongest position to date. We have the capital to pursue strategic initiatives and a well-developed infrastructure to support our efforts in medical and value hearing health. I believe that we are well positioned in the early stages of long-term, sustained growth within our core markets. The diabetes market is experiencing tremendous growth, with continuous glucose monitoring (CGM) a critical component to serving the needs of many diabetics. And as the value-hearing healthcare space emerges, we believe we are at the forefront of providing affordable and accessible solutions to unserved or underserved hearing-impaired Americans.”

GUIDANCE:

Intricon Corporation sees FY2019 revenue of $128-133 million, versus the consensus of $131.96 million.

For earnings history and earnings-related data on Intricon Corporation (IIN) click here.

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