Intricon Corporation (NASDAQ:IIN)

Second Quarter 2014 Results

• For the 2014 second quarter, the company reported net sales of $17.5 million, up from $11.5 million in the prior-year period.
• Reported Q2 2014 EPS of $0.13 vs loss of $0.34

“Building on our first-quarter momentum, we again delivered double-digit, top-line gains across all of our businesses and increased profitability in the second quarter,” said Mark S. Gorder, president and chief executive officer of IntriCon. “We remain focused on our strategy of driving business with our key medical and hearing health customers, and pursuing our highest potential growth opportunities in value hearing health and medical biotelemetry.

“The strength of Medtronic’s 530G insulin pump system fueled our medical business—which accounted for a large portion of our year-over-year sales increase. However, we also saw improvements in the value hearing health segment of our business, and professional audio sales nearly doubled from 2013.”

Looking Ahead

Concluded Gorder, “We are well positioned to build on our positive momentum. Looking ahead to the second half of the year, we anticipate revenue growth of approximately 20 percent over the comparable 2013 period. And we remain steadfast in our focus going forward: aggressively pursuing opportunities in value hearing health and medical biotelemetry. As a company, we’ve developed the infrastructure that positions IntriCon to secure large opportunities in the marketplace.”