Electromed (ELMD) Tops Q3 EPS by 3c

Electromed (NYSE: ELMD) reported Q3 EPS of $0.03, $0.03 better than the analyst estimate of $0.00. Revenue for the quarter came in at $8.8 million versus the consensus estimate of $8.4 million.

Kathleen Skarvan, President and Chief Executive Officer of Electromed, commented, “Although this winter’s resurgence of new COVID-19 cases and hospitalizations dampened our home care revenue in January and February, we noted a sharp rebound in March, during which we achieved record monthly referrals and revenue. In March, we benefited from increased patient visits to clinics and greater access for our sales representatives as restrictions were further lifted and vaccines started to become more widely administered throughout the country. In our institutional segment, which had the greatest overall impact from the pandemic, we registered 43.4% sequential revenue growth, another positive indication that hospitals are increasing their non-COVID-19 patient census and our sales representatives are gaining greater hospital access.”

Ms. Skarvan concluded, “While we continue to operate within the constraints of a pandemic, the ongoing nationwide deployment of vaccinations, the extension of the provisional waiver from the Centers for Medicare & Medicaid Services, and our strong operating performance in March gives us optimism that positive operating performance will continue in the fourth quarter. Even during these uncertain times, our solid cash flow generation capacity and strong balance sheet enable us to invest in Electromed’s future. We continue to make strategic investments in research and development, sales, marketing, and infrastructure to position Electromed for profitable long-term growth and to support our goal of enhancing patients’ quality of life one breath at a time with our differentiated SmartVest® Airway Clearance System.”

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

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