Video-capsule manufacturer Given Imaging of Yoqneam, Israel, posted first-quarter revenues for fiscal 2003 of $8.6 million (U.S.), a 65% increase compared with the $5.6 million reported for the same period last year. For the quarter (end-April 30), the firm reported a net loss of $3.6, compared with a net loss of $5.7 million in the first quarter of 2002.
The company posted a 110% increase in M2A capsule endoscope sales compared with the same period a year ago, however, system sales continue to be problematic for the firm with numbers being equal for the periods. Given said it believes the lag in systems sales reflects the tendency of prospective customers to evaluate the system and the related reimbursement before committing to capital spending.
By AuntMinnie.com staff writersMay 2, 2003
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