Invacare makes progress during 'most challenging year'
Invacare gains a few points on Wall Street despite sinking sales and widening losses as the company sees the light at the end of an FDA consent decree effectively shutting down 2 company facilities.
Ohio-based medical device maker Invacare (NYSE:IVC) jumped a few points today, despite posting a tough 2nd quarter, as the company reported progress in emerging from an FDA consent degree that has limited research, development and manufacturing abilities.
Invacare's Q2 2013 sales dropped 5.6% compared with the same period last year, and losses more than tripled in the 3 months ended June 30, 2013. Nonetheless, IVC shares jumped 4.8% today, trading at $16.40 as of about 1:30 p.m.