Financials
Respironics Announces Second Quarter Financials: Respironics, based in Murrysville, Pa., reported a net income of $13.8 million, or 40 cents per diluted share, for the second quarter ended Dec. 31, 2002. This represents a 38 percent increase, compared to a net income of $10.0 million, or 32 cents per diluted share, for the same quarter the previous fiscal year. Revenue for the quarter rose 29 percent, to $151.9 million, compared to $117.4 million for the same quarter the previous fiscal year.
Invacare Reports 2002 Earnings: For the fourth quarter ended Dec. 31, 2002, Elyria, Ohio-based Invacare reported a net income of $17.6 million, or 56 cents per diluted share, compared to a net income of $11.8 million, or 37 cents per diluted share, for the same quarter the previous fiscal year. Revenue for the quarter was $282.0 million, compared to $261.6 million for the same quarter the previous fiscal year.
Net income for fiscal year 2002 was $64.8 million, or $2.05 per diluted share, compared to a net income of $35.2 million, or $1.11 per diluted share, for fiscal year 2001. Annual revenue increased from $1.05 billion during fiscal year 2001, to $1.09 billion during fiscal year 2002.
People & Places
Gallehue Named President of ResMed: San Diego-based ResMed has named Kieran Gallehue president and chief operating officer. Gallehue will report directly to Peter Farrell, who remains chairman and chief executive officer of the company.
Liebetrau Joins Sunrise as President, Commercial Operations: Longmont, Colo.-based Sunrise Medical has named Mark Liebetrau president of commercial operations for North America, responsible for sales, marketing and customer service for the company's home care operations.
Ricks Returns to AHPI: St. Louis-based Allied Healthcare Products has named Robert Ricks vice president of sales and marketing. David Grabowski, vice president of marketing, and Philip Strasser, vice president of sales, have left the company.
Noteworthy
Bruno Acquires Swedish Manufacturing Company: Bruno Independent Living Aids of Oconomowoc, Wis., became an international company last month, when it acquired Stenkullen, Sweden-based Autoadapt-Bev, a manufacturer that specializes in vehicle adaptation for the elderly and physically challenged. Because of the acquisition, Bruno has sales and distribution offices in Stockholm, Sweden; Stenkullen; and Birmingham, England; and Bruno has added 80 employees to its existing staff of 300. Bruno estimates that combined sales for the two companies will reach $70 million during 2003.
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