Liberator ends year with uptick in sales
By HME News Staff
Updated Tue December 15, 2015
STUART, Fla. - Liberator Medical, which is being acquired by manufacturer C.R. Bard, posted a 9.4% increase in net sales for the fiscal year ended Sept. 30, 2015.
Net sales were $81.6 million in 2015 vs. $74.6 million in 2014, driven primarily by the company's continued emphasis on direct response advertising.
“In 2015, we expanded the scope and reach of our sales and marketing activities, and strengthened our customer base through our proven direct response advertising efforts,” stated Mark Libratore, president and CEO.
Liberator posted a 6% decrease in net income, $7.3 billion in 2015 vs. $7.8 million in 2014. The decrease was driven primarily by lower operating income due to an increase in legal and settlement costs, and advertising and bad debt expenses. It was partially offset by increased gross profits from increased sales volumes, and a reduction in payrolls costs and other general and administrative expenses.
C.R. Bard, a manufacturer of medical devices for vascular, urology and surgical specialty fields, announced in November that it has agreed to buy Liberator for $181 million in a move that strengthens its direct-to-consumer platform.
Liberator also made headlines in 2015, when it was one of eight companies investigated by the Department of Justice for alleged illegal kickback arrangements with Coloplast.
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