HASCO Reports Record Fourth-Quarter Revenue, Predicts Strong Growth in Accessible Van Segment
- By Laurie Watanabe
- Feb 17, 2015
HASCO Medical Inc., parent company of Ride-Away mobility dealerships, has reported record-setting fourth-quarter revenue for the end of last year, and predicted that sales for wheelchair-accessible vans would remain strong in 2015.
In a Feb. 17 news release, HASCO said it's expecting fourth-quarter total net revenue of about $22.7 million, which would be a 15-percent increase over the same period in 2013.
HASCO added that the fourth-quarter numbers for 2014 marked the seventh straight quarter of record revenue for the company.
HASCO said its service sales for the fourth quarter were about $4.2 million, an increase of 36 percent from the fourth quarter of 2013. It attributed the upswing to "increased repairs, lift installs and sales of high-end Electronic Mobility Controls driving equipment."
Hal Compton, HASCO's CEO, said of the positive numbers, "Our team's relentless execution in the fourth quarter led to an unprecedented 25-percent growth in sales for the year in spite of cold weather and mid-year retirement of the Ford E-series line of vans. The growth was mostly organic, as we increased awareness about our vehicular solutions to healthcare providers, physical therapists and groups specializing in disabilities."
Compton also said implementation of a new customer relationship management program helped to drive growth, as did "in-store enhancements aided by our partners at BraunAbility, Harmar, Pride [Mobility Products] and Q'Straint."
The HASCO CEO said he expects growth to continue this year "with the introduction of the Dodge Promaster and Ford Transit wheelchair-accessible vehicles. These vehicles offer improved fuel economy and myriad configuration options for our customers, and we are bullish on our growth prospects. As a consolidator, we are poised in 2015 to make acquisitions and find new locations that support our growth plan."
HASCO's portfolio also includes Mobility Freedom, a mobility dealer with multiple Florida locations, and Wheelchair Vans of America, an accessible van rental company.
Laurie Watanabe is the editor of Mobility Management. She can be reached at firstname.lastname@example.org.