Invacare Corp, an Elyria, Ohio-based manufacturer of wheelchairs and other products in the home medical equipment market, announces its financial results for the quarter and year that ended December 31, 2015.

According to a media release from the company, highlights for the fourth quarter include GAAP loss per share from continuing operations was $0.09 for the quarter compared to loss per share of $0.21 in the fourth quarter prior year. Adjusted net loss per share from continuing operations was $0.06 for the quarter compared to adjusted net loss per share of $0.12 in the fourth quarter prior year. And free cash flow was $29.2 million for the quarter compared to $11.4 million in the fourth quarter prior year.

In addition, constant currency net sales, excluding the divested rentals businesses, decreased 1.7% for the quarter compared to the same period prior year. Reported net sales from continuing operations decreased 11.0%. Reported gross margin as a percentage of net sales from continuing operations for the quarter was higher by 0.7 percentage points compared to the fourth quarter prior year. Excluding the benefit of warranty accrual reversals in 2015 and the impact of the divested rentals businesses from 2014, gross margin for the fourth quarter of 2015 was higher by 1.1 percentage points compared to the prior year’s fourth quarter.

Highlights for the year include: GAAP loss per share from continuing operations was $0.82 compared to loss per share of $2.15 in 2014. Adjusted net loss per share from continuing operations was $0.62 compared to adjusted net loss per share of $1.59 in 2014. Free cash flow was $13.9 million compared to $8.4 million in 2014.

In addition, constant currency net sales, excluding the divested rentals businesses, were flat compared to 2014. Reported net sales from continuing operations decreased 10.1%. Debt outstanding was $48.3 million as of December 31, 2015, compared to $22.3 million as of December 31, 2014.

[Source(s): Invacare Corp, Business Wire]