Electromed Inc

NYSE American:ELMDUnited States

May 7, 2024

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• Electromed, Inc. Announces Record Revenue in Fiscal 2024 Third Quarter, from 4:05PM ET on Tuesday May 07, 2024 by Business Wire

  4:05PM ET on Tuesday May 07, 2024 by Business Wire
  Companies Mentioned: ELMD

  Electromed, Inc. ("Electromed") (NYSE American: ELMD), a leader in innovative airway clearance technologies, today announced financial results for the three months ended March 31, 2024 ("Q3 FY 2024").

• Electromed, Inc. Announces Record Revenue in Fiscal 2024 Third Quarter, from 4:05PM ET on Tuesday May 07, 2024 by Dow Jones

  4:05PM ET on Tuesday May 07, 2024 by Dow Jones
  Companies Mentioned: ELMD
  Total liabilities 6,357,000 8,139,000 ------------ ----------- Commitments and Contingencies Shareholders' Equity Common stock, $0.01 par value per share, 13,000,000 shares authorized; 8,655,727 and 8,555,238 shares issued and outstanding, as of March 31, 2024, and June 30, 2023, respectively 87,000 86,000 Additional paid-in capital 20,342,000 18,788,000 Retained earnings 22,115,000 18,793,000 ------------ ----------- Total shareholders' equity 42,544,000 37,667,000 ------------ ----------- Total liabilities and shareholders' equity $ 48,901,000 $ 45,806,000 ============ =========== Electromed, Inc. Condensed Statements of Operations Three Months Ended Nine Months Ended March 31, March 31, ------------------------ ------------------------ 2024 2023 2024 2023 ----------- ----------- ----------- ----------- Net revenues $13,871,000 $12,068,000 $39,884,000 $34,455,000 Cost of revenues 3,489,000 3,012,000 9,459,000 8,386,000 ---------- ---------- ---------- ---------- Gross profit 10,382,000 9,056,000 30,425,000 26,069,000 ---------- ---------- ---------- ---------- Operating expenses Selling, general and administrative 8,374,000 7,694,000 25,699,000 22,937,000 Research and development 167,000 166,000 480,000 618,000 ---------- ---------- ---------- ---------- Total operating expenses 8,541,000 7,860,000 26,179,000 23,555,000 ---------- ---------- ---------- ---------- Operating income 1,841,000 1,196,000 4,246,000 2,514,000 Interest income, net 120,000 26,000 293,000 37,000 ---------- ---------- ---------- ---------- Net income before income taxes 1,961,000 1,222,000 4,539,000 2,551,000 Income tax expense 468,000 147,000 1,217,000 418,000 ---------- ---------- ---------- ---------- Net income $ 1,493,000 $ 1,075,000 $ 3,322,000 $ 2,133,000 ========== ========== ========== ========== Income per share: Basic $ 0.17 $ 0.13 $ 0.39 $ 0.25 ---------- ---------- ---------- ---------- Diluted $ 0.17 $ 0.12 $ 0.38 $ 0.25 ---------- ---------- ---------- ---------- Weighted-average common shares outstanding: Basic 8,565,725 8,461,531 8,549,352 8,449,623 ---------- ---------- ---------- ---------- Diluted 8,892,821 8,710,106 8,822,938 8,694,407 ---------- ---------- ---------- ---------- Electromed, Inc. Condensed Statements of Cash Flows Nine Months Ended March 31, --------------------------------- 2024 2023 ---------------- --------------- (Unaudited) (Unaudited) Cash Flows From Operating Activities Net income $ 3,322,000 $ 2,133,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 594,000 370,000 Amortization of finite-life intangible assets 37,000 52,000 Share-based compensation expense 1,250,000 506,000 Deferred income taxes 39,000 32,000 Changes in operating assets and liabilities: Accounts receivable 223,000 (1,293,000) Contract assets (155,000) (284,000) Inventories 78,000 (264,000) Prepaid expenses and other current assets 1,234,000 105,000 Income tax payable, net (627,000) (270,000) Accounts payable and accrued liabilities (1,386,000) (111,000) Accrued compensation (31,000) (660,000) ----------- ----------- Net cash provided by operating activities 4,578,000 316,000 ----------- ----------- Cash Flows From Investing Activities Expenditures for property and equipment (265,000) (1,221,000) Expenditures for finite-life intangible assets (84,000) (54,000) ----------- ----------- Net cash used in investing activities (349,000) (1,275,000) ----------- ----------- Cash Flows From Financing Activities Issuance of common stock upon exercise of options 111,000 40,000 Taxes paid on net share settlement of stock option exercises - (305,000) Repurchase of common stock - (153,000) ----------- ----------- Net cash provided by (used in) financing activities 111,000 (418,000) ----------- ----------- Net increase (decrease) in cash 4,340,000 (1,377,000) Cash And Cash Equivalents Beginning of period 7,372,000 8,153,000 ----------- ----------- End of period $ 11,712,000 $ 6,776,000 =========== ===========
  

• *DJ Electromed 3Q EPS 17c >ELMD, from 4:05PM ET on Tuesday May 07, 2024 by Dow Jones

  4:05PM ET on Tuesday May 07, 2024 by Dow Jones
  Companies Mentioned: ELMD