Invacare Reports Results for Second Quarter 2019
Invacare Corporation (IVC)
Last invacare corporation earnings: 2/10 06:00 am
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US:NYSE Investor Relations:
invacare.com/cgi-bin/imhqprd/investor-relations.jsp
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Source: Business Wire
Operational initiatives deliver improvement in operating loss and free cash flowFull year 2019 and 2020 guidance reaffirmed ELYRIA, Ohio--(BUSINESS WIRE)--Invacare Corporation (NYSE: IVC) ("Invacare" or the "company") today reported results for the quarter ended June 30, 2019.Key Metrics (2Q19 versus 2Q18*)Reported net sales decreased 4.2% to $235.9 million and constant currency net sales(a) increased 0.6% as growth in mobility and seating and lifestyle products was offset by a nearly 20% decline, as anticipated, in respiratory sales. Excluding respiratory products, constant currency net sales grew 2.9% on a consolidated basis.Gross margin as a percentage of net sales increased 20 basis points to 27.6% driven primarily by lower freight and material costs as part of the company's continuous improvement initiatives, partially offset by unfavorable foreign exchange.Constant currency SG&A(b) improved by $2.8 million, or 3.8%, driven primarily by restructuring actions implemented in 201
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