STEWARTVILLE, Minn. (May 2) — Rochester Medical Corp. reported record sales of $8.34 million for the second quarter ended March 31, compared to $4.87 million in the like period last year.
The medical components and device manufacturer also reported net income of $1.04 million in the quarter, compared to a net loss of $244,000 in the same period in 2006.
The increase in sales revenues for the quarter was a primary result of increased sales of Rochester Medical branded and private label products, the company said.
International sales resulting from its acquired United Kingdom business generated a significant portion of the increase. The rise in net income for the current quarter compared to last year´s second quarter was primarily due to increased sales, Rochester said.
CEO and President Anthony J. Conway said he was pleased with Rochester´s recent progress. He added that recent asset acquisitions are contributing to the company "very nicely" and its year to date organic growth is 13 percent.
Rochester is investing in its marketing and sales activities to support its new contract with Premier Purchasing Partners, L.P., one of the largest group purchasing organizations in the U.S., and also to support the introduction of new products into the United Kingdom and mainland Europe, Conway said. The company expects the planned expenditures will generate increased sales and income over the long term, he said.