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Ergoresearch Reports 2Q Results

by The O&P EDGE
March 7, 2014
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Ergoresearch, Laval, Quebec, Canada, released its financial results for the second quarter (2Q) of fiscal-year 2014, for the period ended December 31, 2013. All figures quoted are in Canadian dollars (on March 6, US $1 = CAD $1.10).

Fiscal 2014 second quarter revenues totaled $4,489,330 a 74.9 percent increase compared to $2,566,840 for the period ended December 31, 2012. Increased sales were primarily due to the following factors: an influx of $1,770,902 in revenues from the acquisitions of Victhom Human Bionics, Montreal, Quebec, in April 2013, and Laboratoire Langelier, headquartered in Beloeil, Quebec, in January 2013; and organic growth (other than by acquisitions) of 5.9 percent. The revenue increase from products derived from the company’s own technologies was slightly offset by a decrease in revenues from generic products.

Ergoresearch said its operating income for 2Q fiscal-year 2014 was $491,682, compared to $357,246 for the period ended December 31, 2012. The adjusted operating income taking into account the extraordinary and nonrecurring items of $115,137, was $606,819 a 69.9 percent increase over last year. The depreciation charge for 2Q fiscal-year 2014 was $250,471, compared to $75,844 for the same period last year.

For 2Q fiscal year 2014, the net income after tax expenses was $226,963, compared to $188,134 for the same period in fiscal year 2013. This increase is mainly attributed to an increase in specialty orthotic products, including the OdrA knee brace, a product launched in fiscal year 2013.

Related posts:

  1. Ergoresearch Reports 1Q 2014 Results
  2. Ergoresearch Reports 2013 Annual Results
  3. Ergoresearch Discloses 3Q Fiscal 2013 Results
  4. Ergoresearch Reports 3Q FY 2012 Results, Ranked among Canada’s Fastest Growing Companies
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