Invacare Corporation, based in Elyria, Ohio, announces its financial results for the third quarter and 9 months that ended September 30, 2015.
Except for free cash flow, the financial information the company is reporting excludes the discontinued operations of Altimate Medical Inc, which the company divested on August 29, 2014.
Highlights for the third quarter include: a GAAP loss per share of $0.24, compared to $0.90 last year; adjusted net loss per share $0.13, compared to $0.56 last year; free cash flow of negative $1.0 million, compared to positive $14.3 million last year, due to what the company says is $13.7 million related to the 2014 retirement of two company executives, according to a media release from the company.
The company also reports that its constant currency net sales, excluding the divested rentals business, increased 1.1% for the quarter compared to the same period last year. Also, its net sales from continuing operations decreased 11.5%.
In addition, the company notes in the release that its debt outstanding as of September 30, 2015 was $49.0 million, compared to $49.5 million as of June 30, 2015.
For more information, visit Invacare Corporation.
[Source(s): Invacare Corporation, Business Wire]
