A strong jump in product sales helped video-capsule manufacturer Given Imaging of Yoqneam, Israel, record profitable financial results for 2004 (end-December 31).
For the year, the company recorded sales of $65 million, up 60% from 2003 sales of $40.5 million. Given's profit for the year was $2.9 million, compared with a full-year net loss of $9.6 million in 2003.
For the fourth quarter, the company posted sales of $22.2 million, up 77% compared with sales of $12.5 million in the same period of 2003. Given's fourth-quarter profit was $2.4 million, compared with a loss of $579,000 in the corresponding period the year before.
Given attributed the strong results to product sales of its Given System and PillCam video capsules. The company also touted fourth-quarter highlights that included the launch of its new PillCam ESO capsule for imaging the esophagus, the receipt of a $10 million payment from marketing partner Ethicon Endo-Surgery, and the launch of a new platform for the Given System.
By AuntMinnie.com staff writers
February 9, 2005
Related Reading
Given gets U.S. OK for esophagus imaging device, October 26, 2004
Capsule endoscopy may interfere with pacemakers, October 12, 2004
Given names Colby as VP, October 11, 2004
Given's M2A undergoes makeover, September 9, 2004
Given Imaging to launch stock offering, May 25, 2004
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