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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."