Ergoresearch, Laval, Quebec, Canada, and chiefly known under the Clinique du pied Équilibre, Orthoconcept, and now Laboratoire Langelier banners, disclosed its third quarter (3Q) results for the fiscal period ending March 31, 2013. All figures quoted are in Canadian dollars.
Fiscal 2013 3Q sales totaled $3,813,863 (US $3,670,670), a 96 percent increase compared to the same period in 2012, at $1,946,218 (US $1,873,150). Increased sales were primarily due to the influx of new products acquired through Laboratoire Langelier, headquartered in Beloeil, Quebec, and Laboratoire Podotech, Prévost, Quebec, in the amount of $1,318,173 (US $1,268,680), and a 21.7 percent increase in regular product sales derived from the company’s own technologies.
A 321 percent increase in operating income was reported in the 3Q of fiscal 2013, or $399,871 (US $384,858) compared to $94,951 (US $91,386) for the 3Q of fiscal 2012. Nonrecurring acquisition-based transaction fees lowered the operating income numbers by $114,807 (US $110,497) in the 3Q of fiscal 2013.
Company net profits reached $213,418 (US $205,405), or 5.6 percent of sales in the quarter compared to $71,149 (US $68,478), or 3.7 percent of sales in the same quarter of fiscal 2012. Ergoresearch said that the higher profitability is chiefly owed to a broader range of foot orthotic and specialty orthotic products, including the OdrA, a new product launched last October.
Fiscal 2013 3Q highlights, as reported by the company, include completion of the acquisition of Laboratoire Langelier on January 22, 2013, for $4.6 million (US $4,427,290).
Ergoresearch said it and its subsidiaries are pursuing an objective of sustained growth.
