IIN - IIN STOCK NEWS

Intricon Corporation (NASDAQ: IIN) reported financial results for Q4 and 2021, noting a revenue increase to $32.2 million in Q4 from $30.3 million in the prior year. Full-year revenue reached $125.2 million, rising from $102.8 million in 2020. Diabetes revenue rose 17.6%, while interventional catheters revenue surged 98%. However, net income fell to $0.00 per diluted share from $0.12 in Q4 of 2020. Additionally, Intricon announced an acquisition by Altaris Capital Partners at $24.25 per share, offering a 39% premium on the stock price.

Intricon Corporation (NASDAQ: IIN) has announced its acquisition by Altaris Capital Partners for $24.25 per share in cash, valuing the company at approximately $241 million. This acquisition offers a significant premium of about 39% over Intricon's closing stock price on February 25, 2022. The deal aims to enhance Intricon's capabilities in micromedical technology, with a close anticipated in Q2 2022, pending shareholder and regulatory approvals. The transaction allows for solicitation of superior offers up until April 3, 2022, potentially affecting the final outcome.

Intricon Corporation (NASDAQ: IIN) announced that its President and CEO, Scott Longval, will present at the Virtual 2021 Stifel Healthcare Conference. The presentation is scheduled for November 15, 2021, at 10:40 a.m. Eastern Time. Interested parties can access a live and archived webcast of the presentation through the 'Investors' section on the company's website. Intricon specializes in designing and manufacturing medical devices and focuses on advancing clinical outcomes through innovative technology.

Intricon Corporation announced its third quarter 2021 financial results, reporting a 13.5% increase in revenue to $31.1 million compared to the previous year. The gross profit margin declined to 23.1% from 26.3% due to supply chain issues. GAAP net income was $337,000 or $0.04 per diluted share, down from $644,000, while non-GAAP adjusted net income fell to $1.7 million. The company expects revenue for 2021 to range between $123 million to $125 million, marking a 20-22% year-over-year growth.

Intricon Corporation (NASDAQ: IIN) announced the resignation of Ellen Scipta as Chief Financial Officer, effective October 29, 2021, with Annalee Lutgen stepping in as interim CFO. Lutgen has a 12-year tenure at the company and an MBA from St. Cloud State University. The company reported preliminary third-quarter revenue of approximately $31.1 million, reflecting a 13.5% increase year-over-year. Full Q3 results will be disclosed on November 8, 2021. The press release reaffirmed no disagreements related to financial practices.

Intricon Corporation (NASDAQ: IIN) announced it will release its third quarter 2021 results on November 8, 2021, after market close. A conference call is scheduled for the same day at 4:00 p.m. CT/5:00 p.m. ET, where investors can dial in or access a live webcast on the company’s website. Intricon specializes in developing and manufacturing miniature medical devices and has facilities across the U.S., Asia, and Europe, focusing on advancing micro-medical technology through joint development manufacturing.

Intricon Corporation (IIN) supports the FDA's proposal to create an over-the-counter (OTC) hearing aid category, aimed at increasing access and reducing costs for millions of Americans with hearing loss. The proposal permits direct consumer sales without medical exams, addressing the high out-of-pocket expenses associated with traditional hearing aids, which average $2,400 to $4,800. CEO Scott Longval expresses optimism about expanding partnerships in the hearing health ecosystem, while a 90-day public comment period is now open for the draft regulation.

Intricon Corporation (NASDAQ: IIN) announced the completion of a critical milestone in its clinical study for proprietary software enabling self-fitting hearing aids. This technology allows users to adjust their hearing aids using a mobile device. The study, conducted in partnership with clEAR/Amptify, involves 120 participants and aims for FDA clearance by the end of 2021. The new over-the-counter hearing aids are expected to be more affordable, with devices like the HearX Lexie Lumen retailing for $799 compared to traditional options at $4,800.

Intricon Corporation (NASDAQ: IIN) reported substantial growth in its Q2 2021 results, achieving revenue of $30.2 million, marking a 28% increase year-over-year. Gross profit margin decreased to 26.1% from 28.0% due to rising labor costs. The company posted a GAAP net loss of $1.2 million, but a steady non-GAAP adjusted net income of $2.1 million. Notably, Interventional Catheter revenue surged by 266%. Intricon's revised guidance for 2021 is $121 million to $125 million, indicating 18-22% growth.