EDAP (NSDQ:EDAP) posted a slight bump in sales but a dramatic increase in losses for the fiscal year of 2012
The French device maker posted year-end losses of $9.7 million, or 55¢ per diluted share, on sales of $33.7 million. That compares with 2011 losses of $1.3 million, or 10¢ per diluted share, on sales of $31.2 million.
For the 4th quarter, losses were $1.4 million, or 8¢ per diluted share, on sales of $12.2 million. That compares with $Q 2011 losses of $779,000, or 6¢ per diluted share, on sales of $10.1 million.
Company CEO Marc Oczachowski touted the results as "record revenues in the 4th quarter, and for the full year 2012," in company filings. The FDA recently granted EDAP premarket approval for its Ablatherm ultrasound device.
"Our sales growth can be attributed to the robust sales of our innovative Sonolith lithotripters around the globe," Oczachowski said in a press release. "Last week we received notification that our PMA had been accepted for Filing Review, less than 2 months after we submitted the complete application to the FDA. With this significant milestone completed, we have now entered the substantive review phase."
