Auto access provider HASCO Medical Inc. (HASC), which specializes in wheelchair accessible vans, parts and service, posted fourth quarter 2014 revenues of $22.7 million, marking the seventh straight quarter of record-setting revenue for the company
Based on preliminary unaudited information, HASCO’s fourth quarter revenues represented a 15 percent jump from the $19.7 million the company took in during the fourth quarter 2013. The company’s total net revenues for 2014 are expected to total approximately $91.2 million, marking a 25 percent gain over 2013’s $73.1 million revenues.
Notably, HASCO’s fourth quarter service were expected to total approximately $4.2 million, which was 36 percent from $3.1 million the company took in during the same period a year prior. The growth in service sales stemmed from increased repairs, lift installations, and sales of Electronic Mobility Controls driving equipment, according to the company.
“Our team’s relentless execution in the fourth quarter led to an unprecedented 25 growth in sales for the year in spite of the cold weather and mid-year retirement of the Ford E-series line of vans,” Hal Compton, CEO of HASCO Medical, said. “The growth was mostly organic as we increased awareness about our vehicular solutions to healthcare providers, physical therapists and groups specializing in disabilities. Results were further helped with the completed implementation of our new Customer Relationship Management solution and in-store enhancements aided by our partners at BraunAbility, Harmar, Pride and Q’Straint.”
Compton added that during the fourth quarter the company formed a new Commercial Sales department with specialized Commercial Mobility Consultants that focus on the needs of assisted living, rehabilitation centers and commercial fleet owners.
“For 2015 I expect continued growth from this group with the introduction of the Dodge Promaster and Ford Transit wheelchair accessible vehicles,” Compton noted. “These vehicles offer improved fuel economy and myriad configuration options for our customers and we are bullish on their growth prospects. As a consolidator, we are poised in 2015 to make acquisitions and find new locations that support our growth plan.”