And with that, I’ll now turn the program over to Jost Fischer, Chairman and CEO of Sirona Dental Systems.
Thanks, John. It is my pleasure to welcome all of you to our fourth quarter and full year 2011 conference call. Joining me today are Jeffery Slovin, President and Simone Blank, Executive Vice President and Chief Financial Officer. I am delighted to report that fiscal 2011 was a year filled with many accomplishments and successes for Sirona.
We posted outstanding financial results, strengthened our balance sheet, introduced exciting new product offerings and had an impressive showing at the International Dental Show in Cologne. The product launch platform for the dental industry. Our success at the IDS helped drive our strong sales performance particularly in the German market where we saw our revenue increase an exceptionally strong 27.4% to $189 million.Sirona raised its guidance three times over the course of the year and achieved constant currency revenue growth of 16.4%. Our strategy to leverage our financial strength and reinvest it back into targeted areas of the business has proven to be a very wise decision. We’ve been strong proponents of building a solid foundation that will allow Sirona to keep growing for years to come. The pillars of the strategy are; the continuous development of innovative advancements in dental technology and the expansion of our sales and service infrastructure in attractive markets around the world. As many of you know, innovation is the hallmark of Sirona. During the year, we invested in industry-leading 56 million in research and development. This investment resulted in multiple new product introductions including Orthophos XG 3D, CEREC 4.0, SINIUS, FaceScan, SIROBoost and a host of others. We believe strongly in the potential of these innovations and you should expect to see their impact as we move through fiscal 2012 and beyond. We are proud of all of our innovative new products that are poised to once again change the face of dentistry. And we will not rest on our laurels.
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