EDAP Reports 25% Year-Over-Year Revenue Growth for Fourth Quarter 2012
Record full year revenue of approximately EUR 26.0 million (USD 33.5 million),
up 16.5% year-over-year
Record fourth quarter total revenue of approximately EUR 9.4 million (USD 12.2
million), up 25% year-over-year
Record lithotripsy sales with 21 devices sold in fourth quarter and 52 devices
sold during full year
Cash position at December 31, 2012, of approximately EUR 8.0 million (USD 10.5
million), up EUR 1.5 million year-over-year
LYON, France, Jan. 22, 2013 (GLOBE NEWSWIRE) -- EDAP TMS SA (Nasdaq:EDAP), the
global leader in therapeutic ultrasound, announced today preliminary unaudited
revenues for the fourth quarter and full year ended December 31, 2012.
Preliminary total revenue for the fourth quarter 2012 is expected to be
approximately EUR 9.4 million (USD 12.2 million), a 25% year-over-year
increase. Fourth quarter 2012 total revenue reflected the sales of 21
lithotripters and three Ablatherm-HIFU devices.
For the full year 2012, the Company reported record preliminary total revenue
of approximately EUR 26 million (USD 33.5 million), up 16.5% compared to
2011.In aggregate, 52 lithotripsy devices and four Ablatherm-HIFU devices
were sold in 2012.
At December 31, 2012, the Company's cash position was approximately EUR 8.0
million (USD 10.5 million). This EUR 1.5 million increase year-over-year was
attributable to the Company's financing activities and mostly to the capital
raise and debt reduction executed in early 2012. The Company's operations were
cash stable throughout the year.
Marc Oczachowski, EDAP's Chief Executive Officer, commented, "We are pleased
with our robust sales growth for the fourth quarter and full year.Our top
line results were driven by the strong sales trend across our lithotripsy
business fueled by the continued demand for our innovative Sonolith i-move
lithotripter across new and existing markets around the globe."
Mr. Oczachowski concluded, "During the fourth quarter, our sales and marketing
teams successfully converted our device backlog into sales. This continues to
validate the focused efforts of our teams dedicated to expanding our market
penetration in targeted markets, including Europe and the U.S."
EDAP plans to hold a conference call to discuss its fourth quarter and full
year 2012 financial results on Tuesday April 2, 2013 at 8:30 am EDT.
About EDAP TMS SA
EDAP TMS SA develops and markets Ablatherm(R), the most advanced and
clinically proven choice for high-intensity focused ultrasound (HIFU)
treatment of localized prostate cancer. HIFU treatment is shown to be a
minimally invasive and effective treatment option with a low occurrence of
side effects. Ablatherm-HIFU is generally recommended for patients with
localized prostate cancer (stages T1-T2) who are not candidates for surgery or
who prefer an alternative option, or for patients who failed radiotherapy
treatment. Approved in Europe as a treatment for prostate cancer,
Ablatherm-HIFU (High Intensity Focused Ultrasound) is currently undergoing
evaluation in a multi-center U.S. Phase II/III clinical trial under an
Investigational Device Exemption (IDE) granted by the FDA, the ENLIGHT U.S.
clinical study. The Company also is developing this technology for the
potential treatment of certain other types of tumors. EDAP TMS SA also
produces and commercializes medical equipment (the Sonolith(R) range) for
treatment of urinary tract stones using extra-corporeal shockwave lithotripsy
(ESWL). For more information on the Company, please visit
http://www.edap-tms.com, and http://www.hifu-planet.com.
In addition to historical information, this press release may contain
forward-looking statements. Such statements are based on management's current
expectations and are subject to a number of risks and uncertainties, including
matters not yet known to us or not currently considered material by us, and
there can be no assurance that anticipated events will occur or that the
objectives set out will actually be achieved. Important factors that could
cause actual results to differ materially from the results anticipated in the
forward-looking statements include, among others the uncertainties of the U.S.
FDA approval process, the clinical status and market acceptance of the
Company'sHIFU devices and the continued market potential for the Company's
lithotripsy device. Factors that may cause such a difference also may include,
but are not limited to, those described in the Company's filings with the
Securities and Exchange Commission and in particular, in the sections
"Cautionary Statement on Forward-Looking Information" and "Risk Factors" in
the Company's Annual Report on Form 20-F. Ablatherm-HIFU treatment is in
clinical trials, but not FDA-approved or marketed in the United States.
CONTACT: Blandine Confort
Investor Relations / Legal Affairs
EDAP TMS SA
+33 4 72 15 31 72
The Ruth Group
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