Given Imaging's fourth quarter 2011 net income was up 76 percent to $5.6 million, compared to $3.2 in the fourth quarter of 2010, according to a news release.
The operating profit in the fourth quarter increased to $7.1 million, compared to $5.7 million in the fourth quarter of 2010. For the fiscal year ending Dec. 31, 2011, revenue increased by 12.8 percent to $178 million. The PillCam SB sales increased 4.1 percent worldwide and amounted to 60,300 capsules sold in the fourth quarter of 2011, compared to 57,900 capsules in the same quarter in 2010.
Homi Shamir, president and CEO, said the company hopes to expand the use of the PillCam SB for Crohn's disease and GI bleeding, complete enrollment of the PillCam COLON 2 trials in the U.S. and Japan during the first half of 2012 and file for clearance in both markets later in the year. He estimates the PillCam 2 has a $5 billion global market opportunity.
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The operating profit in the fourth quarter increased to $7.1 million, compared to $5.7 million in the fourth quarter of 2010. For the fiscal year ending Dec. 31, 2011, revenue increased by 12.8 percent to $178 million. The PillCam SB sales increased 4.1 percent worldwide and amounted to 60,300 capsules sold in the fourth quarter of 2011, compared to 57,900 capsules in the same quarter in 2010.
Homi Shamir, president and CEO, said the company hopes to expand the use of the PillCam SB for Crohn's disease and GI bleeding, complete enrollment of the PillCam COLON 2 trials in the U.S. and Japan during the first half of 2012 and file for clearance in both markets later in the year. He estimates the PillCam 2 has a $5 billion global market opportunity.
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5 Quality Mistakes to Avoid With GI Supplies and Equipment
Central Illinois Endoscopy Center Gets 95% Patient Satisfaction Rate
Apollo Endosurgery Raises $47.6M in New Financing