June 1, 2007
Avada Audiology & Hearing Care Centers, operating subsidiary of Hearing Healthcare Management, Inc. (HHM), reported gains in net sales and profits from operations for the first quarter of 2007.
"We are very pleased that our Avada Audiology & Hearing Care Centers continue to show strong growth trends while industry sales have remained flat," Steve Barlow, Avada’s chief executive officer and chairman of the board of managers of HHM, said. "We are on target in meeting our goals for sales growth and profitability targets for 2007.”
In a company statement Avada indicated that nationwide it increased net sales by 14.4% in the first quarter of 2007 over the first quarter of 2006. The increase was driven by organic sales, according to the statement, which also reported that recent acquisitions had created a positive impact on the improved first quarter sales.
Barlow said that bottom line performance of the company overall for the 2007 period saw profits improve by 201% over the same 2006 period. He noted that improvements in all key performance indictors led to the company’s improved figures.
“We continue to focus on improving our patient’s experience and satisfaction,” Barlow said. “Continuous training and education for all staff personnel is a key factor in our overall success which was highlighted at last year’s Avada Business Conference near the end of September.”
Avada also announced it plans to expand the Avada Member Group program, designed for individuals who want to begin to build their practice to its maximum value.
Sources at Avada also reported expansion activities for the company are ongoing.