Undervalued Medical Stock
Highest Reported Twelve Month Net Sales and Net Income in Company History
Double-Digit Percentage Growth in Net Sales
RMS Medical Products, Inc.
(Stock Symbol: REPR)
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RMS Medical Products
Inspiration for health, freedom for living
RMS Announces Results for Three, Ten and Twelve Months Ending December 31, 2017
RMS Medical Products (OTCQX:REPR) announced the latest financial results for the three, ten and twelve months ending December 31, 2017.
The selected financial results encompass the periods since the Company’s fiscal year ending on February 28, 2017. To facilitate a period-to-period comparison despite the change in the Company’s fiscal year, the selected financial results also include the three and twelve-month periods ending December 31, 2017 and 2016.
Highlights Three Months Ending December 31, 2017 versus 2016
- 44% Increase in Net Sales
- 39% Increase in Gross Profit
- 14% Decrease in Operating Expenses as % of Net Sales
- 10% Increase in Net Income as % of Net Sales
Growth in net sales in 2017 was driven principally by increased volume with our existing customers domestically and internationally in all major product categories. The launch of a new drug generated increased needle sales and we believe the new 510(k) clearance by the FDA for the RMS “Integrated Catch-Up Freedom Syringe Drive Infusion System” on August 31, 2017, which includes specific clearance for Cuvitru® and Hizentra®, also contributed in part to increased sales. Internationally, we gained business in several new countries, a current distributor has expanded its home infusion business, and facilitated subcutaneous immunoglobulin gained traction in Europe. Also contributing to the 2017 increase was a backlog at December 31, 2016 of $0.3 million, which was filled during the current period. Excluding this backlog, net sales grew 20.2% for the twelve month period ending December 31, 2017.
The increase in gross profit was driven by the increase in net sales, which was partially offset by the increase in higher salary and related benefits costs from overtime and the addition of a second shift to meet increased demand. Furthermore, increased scrap during quality inspections also negatively impacted gross profit and the gross margin. In January 2018, we implemented a nondestructive testing protocol to reduce scrap.
Andy Sealfon, RMS Chief Executive Officer commented,
“I am so pleased to announce that due to the outstanding performance and expanded market acceptance of our FREEDOM Syringe Infusion System, as well as the confirmation by the FDA of the unique technology supporting the use of our system for subcutaneous medications including Hizentra® and Cuvitru®, as well as for intravenous uses such as antibiotics, we experienced our best year ever in the Company’s history for net sales and profitability. With new markets opening, planned introduction of new products this year, multiple new clinical trials underway, and international market expansions, we believe we are well positioned for future growth.”
RMS Medical Products MISSION:
To improve the Quality of Life of patients around the world
through the design, development and delivery of the
highest quality innovative therapeutic solutions.
The most valuable home infusion system
We work to help reduce healthcare costs
through the increasing success of home infusion
with our Freedom DynEQ™ infusion systems.
Worldwide, RMS Medical Products drives healthcare inspiration – in the minds of our patients, our employees, our customers and our shareholders – to give everyone greater freedom for living. We design and manufacture safe, affordable medical devices to make quality healthcare a reality for everyone.
We focus on home and specialty infusion solutions, emphasizing responsive problem-solving for our customers, and careful consideration for the patient experience. Our primary products are the FREEDOM60® and FreedomEdge® DynEQ Infusion Systems, RMS Precision Flow Rate Tubing™, HIgH-Flo Subcutaneous Safety Needle Sets™ and RES-Q-VAC®Hand Held Medical Suction.
We are passionate about helping people with our reliable medical devices made at our HQ in Chester, NY (USA). Our products, as well as product support, are offered worldwide by RMS and through a global network of distributors and service providers.
The Freedom60 has a proprietary technology
that makes it desirable for the
delivery of medications in a wide variety of therapies.
It is very popular for the delivery of subcutaneous immunoglobulin for the treatment of primary immune deficiency disease. The infusion pump uses “ dynamic equilibrium” which safely adjusts the flow of medication in accordance with what the patient’s body can accept.
RMS Medical Products News
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RMS Medical Products Posts Strong Results for Three and Seven Months Ending September 30, 2017
RMS Medical Products Reports Double-digit Percentage Growth in Net Sales for Three and Seven Months Ending September 30, 2017 — See News
RMS Freedom Infusion System Cleared for Both Subcutaneous and Intravenous Indications — See News
RMS Medical Products Posts Strong Results for Four-Month Period Ending June 30, 2017
RMS Medical Products Closes Four-Month Period Ending June 30, 2017 with Double-Digit Percentage Growth — See News
Undervalued Medical Products Stock