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Invacare Ties Q1 2012 Earnings To FDA Compliance Costs
Invacare reports first quarter 2012 adjusted earnings per share of 25 cents and adjusted net income of 7.9 million, down from 32 cents and 10.5 million a year earlier due to higher regulatory costs. CEO Gerald B. Blouch notes FDA observations and a potential consent decree affecting Taylor Street and Elyria facilities. The firm plans a 2012 audit and continues a globalization effort aiming for 100 million in annualized savings by 2015.
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