WASHINGTON: Inogen revenues increased about 40 percent during the fourth quarter and 2015 fiscal year because of strong business-to-business sales, the company said when it released fourth quarter and annual earnings results Mach 14.
Inogen, a Goleta-based maker of direct-to-consumer respiratory products, said fourth quarter revenues increased 38.9 percent from $29.1 million in 2014 to $40.4 million in 2015. Net income increased from $1.5 million to $3.86 million during the same period. Earnings per share increased from 7 cents to 19 cents during the quarter.
In 2015, Inogen revenues increased from $112.5 million in 2014 to $159 million. Net income increased from $6.8 million in 2014 to $11.6 million in 2015. Earnings per share increased in 2015 from 30 cents to 56 cents per share. Strong winter sales and increased sales by new staff members also resulted in unexpected sales increases, the company said.
