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."
EDAP plans to hold a conference call to discuss its fourth quarter and full year 2012 financial results on Tuesday April 2, 2013 at 8:30 am EDT.
Granted these are UNAUDITED and preliminary results but for those bashers who complain that management is inept or taking too long to release financials, here they are. You can find them on EDAP's website. They were released January 22nd 2013. Please remember that the French have more paid annual leave, roughly 30 days a year, compared to any other country. They have their own way of doing business that may be upsetting to the average hustling American. The bottom line is simple, this French company, EDAP TMS, is about to make history. I am proud to say I own a company that will change how prostate cancer is treated and perhaps eradicated. The ride has been hard to stomach at times, but a new ride, to new highs, to more Americans being treated with a safe, non evasive, non chemical treatment has arrived. The proof is in the pudding or as the French say "la preuve est dans le pudding".
I am skeptical that there is little inside ownership where my INO is being bought up left and right by it's executives. However below is a list of EDAP's institutional owners, who combine own a total of 19% of the company.
BRUCE & CO., INC. 12/31/2012 1,565,494 0 0.00 6,716
PERKINS CAPITAL MANAGEMENT INC 12/31/2012 732,000 (234,000) (24.22) 3,140
GOLDMAN SACHS GROUP INC 12/31/2012 646,900 (215,030) (24.95) 2,775
WELLS FARGO & COMPANY/MN 12/31/2012 161,800 (17,500) (9.76) 694
DAFNA CAPITAL MANAGEMENT LLC 12/31/2012 139,527 (35,000) (20.05) 599
DANE FALB STONE & CO INC 12/31/2012 114,000 (45,000) (28.3) 489
CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM 12/31/2012 42,800 0 0.00 184
DEUTSCHE BANK AG\ 12/31/2012 40,000 40,000 New 172