HDI posts positive 3Q gains; launches two glucose meters

FORT LAUDERDALE, Fla. Home Diagnostics on Thursday posted revenue of $35.6 million for the three months ending Sept. 30, realizing an increase of 12.2 percent as compared to the year-ago quarter. And retail channel sales were up 38.5 percent, Home Diagnostics reported, driven by the initial launch of the new TRUE2go and TRUEresult blood glucose monitoring systems with Walgreens and strong sales of the TRUEtrack product with existing customers.

“During the third quarter we realized the benefits of several key elements of our growth strategy,” J. Richard Damron, Home Diagnostics’ president and chief executive officer said. “Most importantly, we received FDA clearance for our new no-coding TRUE2go and TRUEresult systems in mid-August, positioning Home Diagnostics into the premium segment of the market. We are pleased with the product’s initial sales trends and are continuing to ship products to our co-brand partners.”

Along with its latest quarterly results, Home Diagnostics announced that it plans to significantly expand its test strip manufacturing capacity to meet the expected demand of its new TRUEresult and TRUE2go systems.