Guru Mario Gabelli Reduces ROCM, US Direct Sales Up 41%
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Selling to hospitals, extended care facilities, healthcare institutions and distributors in more than 70 countries, Rochester Medical makes acute care products for urinary continence, urine drainage care and wound and scar care. The company’s single focus is “creating continence care and bladder drainage solutions that make a positive difference in people's lives.” The company’s technological advances with materials have resulted in innovative products that provide more reliability, independence and confidence for patients.
Rochester Medical Corporation reported its fiscal 2013 first quarter results with record sales of $17.25 million for the current quarter, compared to $13.97 million for the first quarter of last year. The company also reported net income of $1.01 million or $0.08 per diluted share, compared to a net loss of $75,000 or $.01 per diluted share for the same period last year.
Rochester Medical's CEO and President Anthony J. Conway said, "Our Direct Sales continue to grow nicely, particularly in the United States and the United Kingdom. U.S. Direct Sales were up 41% and U.K. Direct Sales were up 26%. Intermittent catheter sales, in particular, continue to grow at a very strong pace.” Conway also said the company’s new manufacturing facility, now under construction, will be fully funded from within.
Rochester Medical Corporation’s revenue growth, based on annual rates per share, is fairly consistent, with 16.6% over 10 years, 16.1% over 5 years, and 18.4% over 12 months.
Check here for detailed ROCM financials.
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