Second Quarter 2012 Results

Total revenue for the second quarter 2012 was EUR 6.1 million (USD 7.8 million), up 61% as compared to EUR 3.8 million (USD 5.5 million) for the second quarter 2011.

Total revenue for the lithotripsy division was EUR 5.0 million (USD 6.4 million) for the three months ended June 30, 2012, up 112% as compared to EUR 2.4 million (USD 3.4 million) for the year ago period. During the second quarter 2012, the Company recorded sales of fourteen lithotripsy machines, comprised of six Sonolith i-move devices, four Sonolith i-sys devices and four Sonolith Praktis devices, compared to a total of three devices sold in the second quarter of 2011.

Total revenue for the HIFU division was EUR 1.1 million (USD 1.4 million) for the second quarter 2012, compared to EUR 1.4 million (USD 2.1 million) for the same period last year. The Company did not record any Ablatherm-HIFU machine sale in the second quarter 2012, while, results for the second quarter 2011 reflected the sale of one Ablatherm machine.

Gross profit for the second quarter 2012 was EUR 2.4 million (USD 3.1 million), compared to EUR 1.5 million (USD 2.2 million) for the year ago period. Gross profit margin was 39.1% in the second quarter 2012, compared to 40.2% in the year ago period. The change in the gross profit margin was attributed to the evolution in product mix.

Operating expenses were EUR 3.3 million (USD 4.2 million) for the second quarter 2012, compared to EUR 2.8 million (USD 4.1 million) for the same period in 2011.  Operating loss was EUR 937,000 (USD 1.2 million) for the second quarter 2012, compared to EUR 1.3 million (USD 1.8 million) in the second quarter of 2011.

First Six Months 2012 Results

Total revenue for the first half of 2012 was EUR 11.0 million (USD 14.3 million), up 27% as compared to EUR 8.6 million (USD 12.3 million) for the first half of 2011. 

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