November 14, 2008--Given Imaging (Yoqneam, Israel), manufacturers of the miniature PillCam that when swallowed, provides images of the digestive path in humans (see www.bioopticsworld.com/articles/340103), reported a revenue increase of 12% to $31.1 million in the third quarter of 2008 (ended September 30, 2008), from $27.7 million in the third quarter of 2007.
"We are pleased to report that global PillCam SB sales increased by 21% to a record 56,100 in the third quarter, reflecting solid increases in the EMEA region of 45% and the APAC region where sales more than doubled. Our top line this quarter, however, was impacted by a shortfall in equipment sales in Japan. In order to accelerate expansion of our installed base of approximately 140 systems in Japan, we are in the process of adding a leading supplier of medical equipment as a second distributor in Japan," said Homi Shamir, Given Imaging president and CEO. "In light of lower than expected revenues in Japan as well as the continued delay in issuing the effective date for reimbursement in France, we now expect that annual revenues for 2008 will be approximately $125 million, 4% below the lower end ($130 million) of our revenue guidance for the year. Nonetheless, we are confident about 2009 based on growth anticipated from changes we are making in the Japanese market, reimbursement becoming effective in France and expanded U.S. market opportunities."
PillCam SB sales in the Americas increased by 5% to 36,300 in the third quarter of 2008 compared to 34,500 in the third quarter of 2007. PillCam SB sales in the EMEA region increased by 45% and PillCam sales in the APAC region more than doubled in the third quarter. The increase in PillCam SB sales in the APAC region is mainly attributable to PillCam sales in Japan and Australia.
For more information, visit www.givenimaging.com.
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