State-of-the art lithotripter Sonolith i-move demonstrating early success in the U.S.
LYON, France, May 16, 2012 (GLOBE NEWSWIRE) -- EDAP TMS SA EDAP -9.05% , the global leader in therapeutic ultrasound, announced today financial results for the first quarter ended March 31, 2012.
Financial Year
Philippe Chauveau, EDAP's Chairman of the Board of Directors, said, "The Board has unanimously decided upon a major shift in EDAP's strategy and recommended, with immediate effect, that EDAP focus its efforts on the U.S. market where opportunities and priorities have been identified. This focus will involve immediate relocation to the U.S. of EDAP's CEO Marc Oczachowski."
Budget Deficit
Marc Oczachowski, EDAP's Chief Executive Officer, commented, "I fully endorse the Board of Directors' vision to focus our efforts on U.S. opportunities and priorities. I am fully committed to making this happen in the U.S., while relying on the existing solid management team in the rest of the world."
Marc Oczachowski, further remarked, "With respect to our earnings this quarter, and in line with typical historical seasonality, our first quarter sales activity was fairly flat year-over-year, with five lithotripsy devices and one Ablatherm-HIFU device sold. As you know, EDAP had a very robust fourth quarter with the sale of sixteen lithotripsy devices and one Ablatherm-HIFU device. We are continuing to replenish our pipeline of leads and projects. At this time, we have a sales backlog of eleven lithotripsy devices."
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