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ELYRIA, Onto - Invacare officials say a number of pressures drove a net loss of $ 1 .97 million for the second quarter of mis year compared to net earnings of $10.66 million for the same period last year.
Chief among them: a U.S. Food & Drug Administration (FDA) investigation, which cost Invacare $7 million in remediation efforts in the second quarter and diverted internal resources away from new product introductions; and the pending announcement of Round 2 contract providers, which made the company's customers cautious in their capital spending.
"The theme is, 'Unless I need it, I'm not going to buy...