Published Nov. 12, 2012
Greenville-based Span-America Medical Systems Inc. said net income increased 67% in the fiscal fourth quarter to $1.5 million on a 30% increase in sales of $17.8 million.
Results were boosted by the acquisition of M.C. Healthcare, a Canadian manufacturer of medical bed frames and other products. Span-America is a supplier of a variety of medical equipment and therapeutic support devices.
For the fiscal year, sales rose 45% to $76.1 million, and net income increased 41% to $5.2 million.
“Span-America’s improved results for fiscal 2012 benefited from solid growth from our medical and custom products segments and the contribution of M.C. Healthcare that we acquired in the first quarter of this fiscal year,” President and CEO Jim Ferguson said in a news release.
Ferguson said the company increased its research and development activity to expand product lines and offer new products.
“We believe these new products will increase our market opportunities with new customers and enhance our cross-selling efforts with existing customers,” he said.