Given Imaging Announces Fourth Quarter 2003 Revenues of $12.5 Million
THURSDAY, JANUARY 15, 2004 7:35 AM
- PR Newswire

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YOQNEAM, Israel, Jan 15, 2004 /PRNewswire-FirstCall via Comtex/ -- Given Imaging (GIVN) announced today that worldwide sales in the fourth quarter of 2003 of its Given(R) Diagnostic Imaging System and M2A video capsule reached $12.5 million. This figure represents a 38.9% increase over sales generated in the fourth quarter of 2002. For the fiscal year ended December 31, 2003, sales were $40.5 million reflecting a 40.1% increase over the same period in 2002, meeting revenue guidance.

"Sales in the fourth quarter were strong, as expected, and grew by 28.9% over the previous quarter," said Gavriel D. Meron, president and chief executive officer of Given Imaging. "We have made significant progress to establish capsule endoscopy as the gold standard in diagnosing disorders of the small intestines, laying the foundation for strong continued growth."

Fourth Quarter Conference Call Details

Given Imaging plans to release its fourth quarter and year-end 2003 financial results on February 10, 2004 following the close of the market. In conjunction with the release of earnings, the company will host a conference call on February 11, 2004, at 9:00 am ET, 4:00 pm Israel time. The call will be broadcast live on Given Imaging's web site at www.givenimaging.com.

Eine Hochstufung gabs auch prompt.


Truth is stranger than fiction, because fiction has to make sense
 

4:49PM Given Imaging beats by $0.05; guides up for H1 (GIVN) 25.60 -1.40: Reports Q4 (Dec) loss of $0.02 per share, $0.05 better than the Reuters Research consensus of ($0.07); revenues rose 38.5% year/year to $12.5 mln vs the $12.5 mln consensus. Co expects to "reach breakeven and achieve sustainable profitability during first of of 2004", Reuters consensus is a loss of $0.09 and expects Y04 (Dec) revenues of approx $56.7 mln, Reuters consensus is $56.2 mln.

Given Imaging Announces Record Sales and Positive Cash Flow in the Fourth Quarter of 2003
Tuesday February 10, 4:44 pm ET

YOQNEAM, Israel, Feb. 10 /PRNewswire-FirstCall/ -- Given Imaging Ltd. (Nasdaq: GIVN - News) today announced fourth quarter and full year results for the period ended December 31,2003.

Worldwide sales of the Given® Diagnostic System and M2A® capsule reached a record level of $12.5 million in the fourth quarter of 2003 representing a 38.5% increase over sales in the fourthquarter of 2002. Gross profit was a record 69.8% of revenues compared to 66.3% in the fourth
quarter of 2002. Net loss for the fourth quarter was $0.6 million or $(0.02) per share, a substantial improvement compared to a net loss of $3.7 million or $(0.15) per share in the fourth quarter of 2002. In the fourth quarter of 2003, the company generated a positive cash flow for the first time in its history with a cash balance at the end of the quarter of $25.4 million, up $0.9 million from the
balance at the end of the previous quarter.

For the year ended December 31, 2003, sales were $40.5 million reflecting a 40.3% increase over the year 2002. Gross profit increased to 66.6% of revenues compared to 58.8% in 2002. Operating expenses were $37.9 million in 2003 compared to $36 million in 2002. Net loss for the full year
of 2003 was $9.6 million or $(0.38) per share, compared to a net loss of $18.3 million or $(0.73)per share for the year in 2002.

"During 2003, we built a solid foundation for future growth and our strong results confirm the financial momentum we are generating," said Gavriel D. Meron, President and CEO of Given Imaging. "Central to our success was the removal of the 'adjunctive tool' qualifier from our label enabling us to market capsule endoscopy to physicians and payers as a first line tool in diagnosing small bowel disorders. We also made substantive progress in improving reimbursement for
capsule endoscopy through expanding the number of covered lives, broadening indications, increasing payment rates and the assignment of a permanent CPT code. "

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