Invacare 2007 Annual Report Download - page 102

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INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Business Segments—Continued
Net sales by product, are as follows (in thousands):
2007 2006 2005
North America/HME
Rehab ................................................. $ 268,756 $ 272,517 $ 274,417
Standard ............................................... 242,186 239,540 251,331
Respiratory ............................................ 128,654 141,531 159,300
Other ................................................. 28,709 22,738 21,507
$ 668,305 $ 676,326 $ 706,555
Invacare Supply Group
Distributed ............................................. $ 256,993 $ 228,236 $ 220,908
Institutional Products Group
Continuing Care ........................................ $ 89,026 $ 93,455 $ 85,415
Europe
Standard ............................................... $ 291,574 $ 252,335 $ 263,121
Rehab ................................................. 195,182 170,138 161,082
Respiratory ............................................ 11,353 7,954 7,939
$ 498,109 $ 430,427 $ 432,142
Asia/Pacific
Rehab ................................................. $ 41,310 $ 39,027 $ 47,730
Standard ............................................... 20,655 13,070 10,125
Respiratory ............................................ 8,980 7,111 8,304
Other ................................................. 18,859 10,383 18,553
$ 89,804 $ 69,591 $ 84,712
Total Consolidated .......................................... $1,602,237 $1,498,035 $1,529,732
No single customer accounted for more than 3% of the company’s sales.
Supplemental Guarantor Information
Effective February 12, 2007, substantially all of the domestic subsidiaries (the “Guarantor Subsidiaries”) of
the company became guarantors of the indebtedness of Invacare Corporation under its 9.75% Senior Notes due
2015 (the “Senior Notes”) with an aggregate principal amount of $175,000,000 and under its 4.125% Convertible
Senior Subordinated Debentures due 2027 (the “Debentures”) with an aggregate principal amount of
$135,000,000. The majority of the company’s subsidiaries are not guaranteeing the indebtedness of the Senior
Notes or Debentures (the “Non-Guarantor Subsidiaries”). Each of the Guarantor Subsidiaries has fully and
unconditionally guaranteed, on a joint and several basis, to pay principal, premium, and interest related to the
Senior Notes and to the Debentures and each of the Guarantor Subsidiaries are directly or indirectly wholly-
owned subsidiaries of the company.
Presented below are the consolidating condensed financial statements of Invacare Corporation (Parent), its
combined Guarantor Subsidiaries and combined Non-Guarantor Subsidiaries with their investments in
subsidiaries accounted for using the equity method. The company does not believe that separate financial
statements of the Guarantor Subsidiaries are material to investors and accordingly, separate financial statements
and other disclosures related to the Guarantor Subsidiaries are not presented.
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