Video-capsule manufacturer Given Imaging reported record sales for its 2004 fiscal first quarter (end-March 31) of $12.7 million (U.S.), representing a 47.8% increase compared with the $8.6 million booked in the same period of 2002.
The Yoqneam, Israel-based firm said that it was able to trim its net loss for the quarter to $600,000, a marked improvement compared with a net loss of $3.6 million in the first quarter of 2003.
The company attributed the sales increase to a rise in the number of individuals in the U.S. eligible for reimbursement for the use of the technology, to 69 million, compared with the two million covered lives in the first quarter of 2003.
By AuntMinnie.com staff writersMay 5, 2004
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