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EDAP Reports 23% Increase In First Quarter 2013 Revenues

Stocks in this article: EDAP

  • First quarter 2013 revenue rose 23% to EUR 5.9 million (USD 7.8 million)
  • Continuing US investments in both FDA regulatory process and US operations
  • Great momentum and success achieved at two of the world major urology congresses for EDAP's advanced technologies
  • Publication of two independent studies both reporting 10 year outcomes of men undergoing Ablatherm HIFU for localized prostate cancer

LYON, France, May 16, 2013 (GLOBE NEWSWIRE) -- EDAP TMS SA (Nasdaq:EDAP), the global leader in therapeutic ultrasound, announced today financial results for the first quarter ended March 31, 2013, and provided an update on recent strategic developments.

Marc Oczachowski, EDAP's Chief Executive Officer, stated, "With total revenues up 23% year-over-year, we are continuing to see strong demand for our innovative lithotripsy product range in key global markets. In parallel, we increased our investments in both our FDA regulatory program and our U.S. sales and marketing efforts to further penetrate the U.S. market with both our technologies, which in combination contributed to the 16.5% increase in our first quarter operating expenses. Our device backlog is comprised of ten lithotripters at the midpoint of the second quarter and our team is continuing to cultivate customer leads around the world. Leveraging our aggressive marketing strategy, we anticipate seeing continuous traction in our sales across targeted geographic markets."

"As reported, we had significant attendance at our booths and recorded strong interest in both our HIFU and ESWL technologies during the two most important urology congresses in the world, the European Annual Urology (EAU) meeting in Milan, Italy, and the American Urology Association (AUA) annual meeting in San Diego, California. We have increasing momentum on both our HIFU range of devices, fueled by the launch of our innovative Focal.One® device at the EAU, and on our lithotripsy technologies propelled by a high number of live demonstrations to physicians during the AUA."

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