Repro Med Systems Inc (NASDAQ: KRMD) continued upside momentum that started mid-2019 in yesterday’s session. Yesterday’s rally came a few days after the company reported strong Q4 and 2019 full-year results.
In Q4, the company’s net sales increased by 45.7% to $6.2million. In a similar quarter in 2018, net sales stood at $4.3 million. The company attributed this growth in net sales to success in its expansion plans in the U.S. The company’s U.S growth is mainly driven by a strong showing in the Primary Immune Deficiency Disease and CIDP (Chronic Inflammatory Demyelinating Polyneuropathy) markets.
The company also reported that gross profits in Q4 increased from $2.7 million in Q4 of 2018 to $3.9 million in Q4 of 2019. The company also announced that gross margins in the quarter were stable, and stood at 63.4% around the same level as they were in Q4 of 2018 when they stood at 63.5%. Net losses in the quarter also declined in Q4 of 2019 to under $0.1 million.
For the full-year results, the company announced that net sales increased by 33.5% in 2019 compared to $23.2 million in 2018. Gross margins also improved and stood at 64.1% in the year. The company also had a net income of $0.6 million in the year. Adjusted EBITDA was up by 55.9% in the year, to stand at $5.6 million.
Commenting on the results, CEO Don Pettigrew stated that the company had met major milestones in 2019. He added that for four quarters in a row, the company had recorded growth in net sales. He further stated that the company continues to participate in clinical trials and speed up international expansion.
From its price action, KRMD is in an uptrend. The stock opened the day at $7.68 and traded between $7.54 and $9.25 before closing the day at $9. Volumes in the day stood at 2.17 million.
About Repro Med Systems Inc
Repro Med Systems Inc is a medical device company. It is based in Chester, New York.