IntriCon Reports 2017 First-Quarter Results
ARDEN HILLS, Minn.--(BUSINESS WIRE)--IntriCon Corporation (NASDAQ: IIN), a designer, developer, manufacturer and distributor of miniature and micro-miniature body-worn devices, today announced financial results for its first quarter ended March 31, 2017.
Highlights:
• Total first-quarter sales rose to $20.1 million, up 11 percent from the prior-year first quarter;
• Sales to IntriCon’s largest medical customer increased $2.1 million from the 2016 first quarter and were at record levels;
• The company’s value hearing health initiatives delivered year-over-year growth, with Hearing Help Express contributing $1.4 million in first-quarter revenue;
• IntriCon further enhanced its value hearing health infrastructure, entering into an agreement to acquire a 49 percent stake in self-fitting hearing aid technology provider Soundperience GmbH and a related license agreement; and
• The company completed the sale of its cardiac diagnostic monitoring (CDM) business on February 17, 2017, to Datrix, LLC.
Highlights:
• Total first-quarter sales rose to $20.1 million, up 11 percent from the prior-year first quarter;
• Sales to IntriCon’s largest medical customer increased $2.1 million from the 2016 first quarter and were at record levels;
• The company’s value hearing health initiatives delivered year-over-year growth, with Hearing Help Express contributing $1.4 million in first-quarter revenue;
• IntriCon further enhanced its value hearing health infrastructure, entering into an agreement to acquire a 49 percent stake in self-fitting hearing aid technology provider Soundperience GmbH and a related license agreement; and
• The company completed the sale of its cardiac diagnostic monitoring (CDM) business on February 17, 2017, to Datrix, LLC.