The Board of Directors of Invacare Corporation announced that it declared a cash dividend of $0.0125 per share on its common shares and $0.011364 per share on its Class B common shares payable July 15, 2013 to shareholders of record on July 5, 2013.

Invacare Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company’s net sales decreased 4.9% to $337.6 million versus $355.1 million for the same period last year. The decline in Net Sales were in the North America/Home Medical Equipment (HME) segment, primarily in mobility and seating products, principally due to the reduced order volume at the Company's Taylor Street manufacturing facility resulting from the FDA consent decree. Loss from continuing operations before income taxes was $11.983 million or $0.14 per diluted share against earnings from continuing operations before income taxes of $7.273 million or $0.18 per diluted share a year ago. Net earnings were $35.181 million or $1.10 per diluted share against net earnings of $8.233 million or $0.26 per diluted share a year ago. LBITDA was $1.808 million against EBITDA of $19.121 million a year ago. Adjusted EBITDA was $0.708 million against $22.276 million a year ago. Adjusted loss before income taxes was $9.309 million against adjusted earnings before income taxes of $7.975 million a year ago. Adjusted net loss per share was $0.36 as compared to adjusted net earnings per share of $0.15 for the first quarter of 2012. Adjusted net loss was $11.6 million versus adjusted net earnings of $4.9 million for the first quarter of last year. Net cash used by operating activities was $35.303 million against $0.825 million a year ago. The company’s free cash flow was negative $36 million, principally due to the loss from continuing operations. But free cash flow was also impacted by a few one-time costs associated with the sales of the Invacare Supply Group which resulted in a negative impact of approximately $16 million. The next most significant impact on free cash flow is inventory build up due to the weaker than expected sales at the end of the quarter.

Invacare Corporation announced that they will report Q1, 2013 results at 9:00 AM, Eastern Standard Time on Apr 25, 2013