Invacare sees improvements in 2018

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Thursday, February 14, 2019

ELYRIA, Ohio – Invacare reported net sales of $244.6 million for the fourth quarter of 2018, a 2.3% decrease compared to the same quarter in 2017, and $972.3 million for all of 2018, a 0.6% increase compared to 2017.

Net sales for the North America/HME division were $73.3 million for the fourth quarter of 2018, a 7.3% decrease. Within that division, however, a bright spot: sales for mobility and seating increased 5% for the quarter.

Invacare reported a net loss of $1.25 million for the fourth quarter of 2018 compared to $17.66 million for the same quarter in 2017, and $43.9 million for all of 2018 compared to $76.5 million in 2017.

The company also reported that it has “accelerated its actions to drive growth and improve operations” by, among other things, re-evaluating all business segments and product lines for the potential to be profitable.

Additionally, Invacare has updated its long-term EBITDA target of $100 million run-rate by the third quarter of 2020 to $85 million to $105 million by the end of 2020.

For 2019, the company expects an adjusted EBITDA of at least $20 million and free cash flow usage of $25 million.