FUSE Medical revenue 10k just released: “Net
Post# of 36568
(Total Views: 326)
Posted On: 03/21/2019 7:12:14 PM
FUSE Medical revenue 10k just released:
“Net Revenues
For the year ended December 31, 2018, our net revenues were $26,342,038, compared to $26,407,206 for the year ended December 31, 2017, a decrease of $65,168, or approximately less than one percent (1%).
For the year ended December 31, 2018, Retail Cases increased by forty-seven percent (47%) compared to the year ended December 31, 2017. With that increase, we saw revenues from Retail Cases increase by thirty percent (30%) compared to revenues from Retail Cases for the year ended December 31, 2017. We believe that the increase in Retail Cases and decrease in Wholesale Cases resulted from shifting more of our business to Retail Cases through the better management of our supply.
As a result of our strategy to focus on Retail Cases, our Wholesale Cases declined by thirty-five percent (35%) in the year ended December 31, 2018, compared to Wholesale Cases during the year ended December 31, 2017. Accordingly, revenues from Wholesale Cases for the year ended December 31, 2018, declined by forty-one percent (41%) compared to revenues from Wholesale Cases for the year ended December 31, 2017.
As discussed above in “Current Trends and Outlook”, we believe that as our industry faces increased pricing pressures, we will need to focus on increased volume of Cases to maintain gross profit levels. We intend to increase our Case volume by focusing our operations on Retail Cases to increase sales volumes with our existing retail customer base and to on-boarding new retail customers.
Cost of Revenues
For the year ended December 31, 2018, our cost of revenues was $13,352,558, compared to $14,582,416 for the year ended December 31, 2017, which is a decrease of $1,229,858 or approximately eight percent (8%).
As a percentage of revenues, cost of revenues decreased four (4) percentage points to approximately fifty-one percent (51%) for the year ended December 31, 2018, compared to approximately fifty-five percent (55%) for the year ended December 31, 2017. The decline as a percentage of revenues primarily resulted from (i)(a) an approximate nine percent (9%) reduction in cost of revenues caused largely by a reduction in Case volume, offset in part by (b) an approximately three percent (3%) increase in medical instruments purchased based on higher demand and (ii) an approximate two percent (2%) increase in the inventory loss provision for slow-moving and obsolescence identified during our inventory operations system upgrades.
Gross Profit
For the year ended December 31, 2018, our gross profit was $12,989,480 compared to $11,824,790 for the year ended December 31, 2017, representing an increase of $1,164,690 or approximately ten percent (10%).
19
As a percentage of revenues, gross profit increased by approximately four (4) percentage points to forty-nine percent (49%) for the year ended December 31, 2018, from forty-five (45%) percent for the year ended December 31, 2017. The increase as a percentage of revenues is primarily the result (i) an approximate nine percent (9%) reduction in cost of revenues caused largely by an approximate two percent (2%) decline in Case volume, as a result of a decline in Wholesale Cases, offset in part by (ii)(a) a three percent (3%) increase in medical instruments purchased based on higher demand and (b) an approximate two percent (2%) increase in the inventory loss provision for slow-moving and obsolescence, identified by inventory operations system upgrades.”
https://www.sec.gov/Archives/edgar/data/31901...181231.htm
“Net Revenues
For the year ended December 31, 2018, our net revenues were $26,342,038, compared to $26,407,206 for the year ended December 31, 2017, a decrease of $65,168, or approximately less than one percent (1%).
For the year ended December 31, 2018, Retail Cases increased by forty-seven percent (47%) compared to the year ended December 31, 2017. With that increase, we saw revenues from Retail Cases increase by thirty percent (30%) compared to revenues from Retail Cases for the year ended December 31, 2017. We believe that the increase in Retail Cases and decrease in Wholesale Cases resulted from shifting more of our business to Retail Cases through the better management of our supply.
As a result of our strategy to focus on Retail Cases, our Wholesale Cases declined by thirty-five percent (35%) in the year ended December 31, 2018, compared to Wholesale Cases during the year ended December 31, 2017. Accordingly, revenues from Wholesale Cases for the year ended December 31, 2018, declined by forty-one percent (41%) compared to revenues from Wholesale Cases for the year ended December 31, 2017.
As discussed above in “Current Trends and Outlook”, we believe that as our industry faces increased pricing pressures, we will need to focus on increased volume of Cases to maintain gross profit levels. We intend to increase our Case volume by focusing our operations on Retail Cases to increase sales volumes with our existing retail customer base and to on-boarding new retail customers.
Cost of Revenues
For the year ended December 31, 2018, our cost of revenues was $13,352,558, compared to $14,582,416 for the year ended December 31, 2017, which is a decrease of $1,229,858 or approximately eight percent (8%).
As a percentage of revenues, cost of revenues decreased four (4) percentage points to approximately fifty-one percent (51%) for the year ended December 31, 2018, compared to approximately fifty-five percent (55%) for the year ended December 31, 2017. The decline as a percentage of revenues primarily resulted from (i)(a) an approximate nine percent (9%) reduction in cost of revenues caused largely by a reduction in Case volume, offset in part by (b) an approximately three percent (3%) increase in medical instruments purchased based on higher demand and (ii) an approximate two percent (2%) increase in the inventory loss provision for slow-moving and obsolescence identified during our inventory operations system upgrades.
Gross Profit
For the year ended December 31, 2018, our gross profit was $12,989,480 compared to $11,824,790 for the year ended December 31, 2017, representing an increase of $1,164,690 or approximately ten percent (10%).
19
As a percentage of revenues, gross profit increased by approximately four (4) percentage points to forty-nine percent (49%) for the year ended December 31, 2018, from forty-five (45%) percent for the year ended December 31, 2017. The increase as a percentage of revenues is primarily the result (i) an approximate nine percent (9%) reduction in cost of revenues caused largely by an approximate two percent (2%) decline in Case volume, as a result of a decline in Wholesale Cases, offset in part by (ii)(a) a three percent (3%) increase in medical instruments purchased based on higher demand and (b) an approximate two percent (2%) increase in the inventory loss provision for slow-moving and obsolescence, identified by inventory operations system upgrades.”
https://www.sec.gov/Archives/edgar/data/31901...181231.htm
(0)
(0)