Video-capsule manufacturer Given Imaging reported record sales for its 2003 fiscal fourth quarter (end-December 31) of $12.5 million, representing a 38.5% increase compared with the $9.05 million booked in the same period of 2002.
The Yoqneam, Israel-based firm said that it was able to trim its net loss for the quarter to $600,000, a marked improvement compared with a net loss of $3.7 million in the fourth quarter of 2002. The quarter also saw the firm generate its first positive cash flow, with a quarter-end cash balance of $25.4 million, up $900,000 from the cash balance the previous quarter in 2003.
For the year, sales were $40.5 million, reflecting a 40.3% increase compared with $28.9 million in sales posted for fiscal 2002. Net loss for 2003 was $9.6 million, compared with a net loss of $18.3 million for fiscal 2002, the company said.
By AuntMinnie.com staff writersFebruary 11, 2004
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