Invacare Announces Quarterly Dividend
Invacare Corp.'s board of directors has declared a cash dividend of $.0125 per share on its common shares and $.011364 per share on the manufacturer's Class B common shares.
In a news announcement, Invacare said the dividends would be payable April 18 to shareholders of record on April 4.
Earlier in the month, Invacare announced its fourth quarter and year-end financial results for 2017.
For the fourth quarter of last year, Invacare reported net sales increased 1.5 percent to $250.4 million compared to the fourth quarter of 2016.
Invacare said consolidated constant currency sequential net sales decreased 1.2 percent in quarter four compared to quarter three of 2017. "Notably," the manufacturer said in its announcement, "North America/Home Medical Equipment constant currency sequential net sales were flat."
Operating loss for the fourth quarter was $7.9 million, $1 million more compared to the fourth quarter of 2016.
For the entire 2017 year, Invacare reported a net sales decrease of 7.7 percent versus net sales in 2016. The manufacturer announced net sales of $966.5 million in 2017.
Operating loss for 2017 was $40.2 million, which was an increase of $24.9 million compared to 2016. Invacare attributed the losses to "increased restructuring costs of $9.8 million and lower net sales."
Among its 2017 highlights, Invacare said it was allowed to resume full operations at the company's corporate and Taylor Street manufacturing facilities in Elyria, Ohio, following "five years of quality systems remediation" under a consent decree with the United States Food & Drug Administration. That announcement came in July.
Invacare said it also launched more than 10 products in various home medical equipment and complex rehab technology segments in 2017, including the TDX SP power chair with LiNX technology.
Invacare Chairman/President/CEO Matthew E. Monaghan called 2017 "a tremendous year of progress in our transformation across the company" in his CEO summary.