Electromed (ELMD) Tops Q4 EPS by 30c, Revenues Beat

Electromed (NYSE: ELMD) reported Q4 EPS of $0.15, $0.30 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $6.88 million versus the consensus estimate of $5.68 million.

Q4 FY 2020 Highlights

• Net revenue decreased 20.1% to $6.9 million, from $8.6 million for the three months ended June 30, 2019 (“Q4 FY 2019”), primarily due to industrywide disruption from the COVID-19 pandemic.
• Operating income, which included $0.9 million of government stimulus income from the Provider Relief Fund established under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), totaled $1.3 million, compared to $1.5 million in Q4 FY 2019.
• Net income was $1.3 million, or $0.15 per diluted share, compared to $1.1 million, or $0.13 per diluted share, in Q4 FY 2019.
• Cash as of June 30, 2020 was $10.5 million benefiting from $1.3 million in operating cash flow in Q4 FY 2020.

Kathleen Skarvan, President and Chief Executive Officer of Electromed, commented, “In fiscal 2020 we delivered revenue growth and record profitability, despite a challenging fourth quarter during which the COVID-19 pandemic significantly impacted our operating and financial results. Encouragingly, our home care referrals approached pre-COVID-19 levels as we exited the fourth quarter, in tandem with an uptick in the reopening of physician offices and related activities. I commend our entire Electromed team for their unwavering commitment to ensuring seamless manufacturing and delivery of SmartVest® Airway Clearance during these challenging times.”

Ms. Skarvan continued, “We expect continued uncertainty surrounding COVID-19 through fiscal 2021 that will continue to impact our financial and operational results. We believe we have a strong balance sheet and an extremely dedicated team, which will enable us to withstand this pandemic and pursue a greater share of the large, underpenetrated bronchiectasis market. Our priority continues to be the health, safety and wellbeing of our teammates, clinicians and patients, while executing on our organic growth strategy. With this in mind, we plan to continue investing in our business, serving patients by balancing virtual and in-person visits, and providing best-in-class customer service and delivering our differentiated SmartVest® Airway Clearance devices to drive long-term profitable growth.”

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

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