DynaVox Reports Fourth Quarter And Fiscal Year 2010 Results
Fourth Quarter Fiscal 2010 Highlights:
Fourth Quarter Aggregated Net Sales of $33.1 Million, an Increase of 8.7% (or 17.2% Adjusting for Extra Week in Prior Year)
Fourth Quarter Aggregated Gross Profit Margin Increased 150 Basis Points to 76.1%Fourth Quarter Adjusted EBITDA Increased 6.7% (or 13.2% Adjusting for the Extra Week in Prior Year) Fiscal Year 2010 Highlights: Fiscal Year 2010 Aggregated Net Sales of $114.3 million, an increase of 25.4% (or 28.4% Adjusting for the Extra Week in Prior Year) Fiscal Year 2010 Aggregated Gross Profit Margin Increased 230 Basis Points to 75.6% Fiscal Year 2010 Adjusted EBITDA Increased 34.6% (or 38.3% Adjusting for the Extra Week in Prior Year) PITTSBURGH, Aug. 25, 2010 (GLOBE NEWSWIRE) -- DynaVox (Nasdaq:DVOX), the world's leading provider of communication and education products for individuals with significant speech, language and learning disabilities, today announced results for its fourth quarter and fiscal year ended July 2, 2010. The aggregated financial results described below for the fourth quarter and fiscal year ended July 2, 2010 aggregate the results for DynaVox Inc. and its predecessor, DynaVox Systems Holdings LLC, for the periods preceding and following the Company's April 2010 initial public offering. See the explanatory note under the caption "Explanatory Note and Non-GAAP Financial Measures" below for more information. Fourth quarter 2010 aggregated net sales increased 8.7% to $33.1 million, compared to net sales of $30.4 million in the same period last year. The growth in net sales was a result of a 5.5% increase in sales of speech generating devices, to $26.9 million, and a 25.3% increase in sales of the Company's special education software, to $6.2 million. As the Company previously stated, the fiscal fourth quarter of 2010 had one less week than the same period of the prior year. The Company estimates that the extra week in fiscal 2009 generated approximately $2.2 million in incremental net sales and approximately $0.7 million in incremental operating income and Adjusted EBITDA. Excluding these estimated incremental net sales in the prior year, fourth quarter aggregated net sales increased by approximately 17.2%. The growth in net sales was a result of an approximate 13.6% increase in sales of speech generating devices, and an approximate 35.0% increase in sales of the Company's special education software.
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