Home Diagnostics, Inc. reports spike in retail sales

FORT LAUDERDALE, Fla. Home Diagnostics, Inc. on Thursday realized a 45.2% increase in retail channel sales for the second quarter ended June 30, the company announced.

Retail sales were driven by the continued national rollout of the TRUEresult and TRUE2go blood glucose monitoring systems and the expanded product portfolio at Walmart. Though total revenue for the second quarter was $32.7 million, a decrease of 2.1%.  International sales decreased 22.3%, reflecting lower sales in Latin America following the company’s decision to limit its exposure in that region due to poor economic conditions.

“We are particularly pleased with our domestic sales which grew during the quarter, outpacing the reported results of the majority of our branded competitors, which reported sales declines for the quarter,” stated Joseph Capper, president and CEO of HDI. “This reflects our position as a leading provider of value-priced, high-quality blood glucose monitoring products. We achieved 45% growth in our retail channel, driven by strong reception of our new products, TRUEresult and TRUE2go, as well as organic growth of existing products with our major retail partners.”