SomnoMed announces record September sales

Company News

by David Chau

SomnoMed Ltd (ASX:SOM) has announced that it achieved record September sales, which were 23.8% higher compared to the same period last year.

The company says this compensated for the usually soft Northern summer months of July and August (which saw 13% growth year on year). This resulted in unit sale growth rates of 16.9% for the first quarter of the 2016 financial year.

SomnoMed also says total revenues were up 13.4% for the quarter to $10.94 million.

The company says sales of its SomnoDent devices dominated American sales, accounting for 56% of direct sales.

SomnoMed posted a net profit of $67,000 at 30 June 2016.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.