Repro Med Systems, Inc. (KRMD) Tops Q3 EPS by 2c

Repro Med Systems, Inc. (NASDAQ: KRMD) reported Q3 EPS of $0.02, $0.02 better than the analyst estimate of $0.00. Revenue for the quarter came in at $6.6 million versus the consensus estimate of $5.48 million.

• Net sales rose 45.5% to a record $6.6 million
• Gross margin improved to 66.2%
• Operating profit increased 70.8% to $0.8 million
• Net income rose to $0.7 million, or $0.02 per diluted share
• Adjusted EBITDA up 88.8% to $2.1 million

“Our strong performance continued through Q3 2019,” said Don Pettigrew, President and CEO of KORU Medical Systems. “Net sales increased over 45% from Q3 2018, representing the third consecutive quarter of record net sales, and gross margin improved to over 66%. We continue to penetrate our primary disease state end markets, the growth of which we attribute to increasing awareness and diagnosis of PIDD and expanded therapeutic indications for CIDP. Our Freedom Syringe Infusion System is also being utilized in multiple clinical trials associated with the development of new subcutaneous therapies, which is an important component of our long-term growth strategy.”

Mr. Pettigrew concluded, “We also completed two significant corporate developments: the listing of our common stock on NASDAQ effective October 17 and our corporate re-branding to KORU Medical Systems. We believe that both developments reflect our continuing growth as a public company, and the new life and beginnings we provide to patients worldwide.”

For earnings history and earnings-related data on Repro Med Systems, Inc. (KRMD) click here.

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