FRISCO, Texas, April 27, 2012 /PRNewswire/ -- SomnoMed Limited
(ASX: SOM) announced today its results for the third quarter to
March 2012. Unit sales reached a new
record with 7,903 units, 25% higher than in the same quarter in the
previous year, when sales reached 6,346 units. Third quarter sales
were ahead of Q2 sales with increased sales in all regions (US,
APAC and Europe) in Q3. Global
unit sales for the nine months are just over 22,000 units.
Revenue numbers for the March quarter of $3.8 million were 26% more than the same period
last year. Total revenue growth for the full 9 months is 18% (26%
with constant exchange rates).
SomnoMed's CEO Mr Ralf Barschow
commented, "New record sales were achieved in all regions in Q3 and
trends are encouraging for the remainder of the financial
year."
All regions generated operating profits well ahead of the
corresponding period in the prior year. The ongoing investment in
manufacturing, operations and logistics during the year has again
allowed SomnoMed to increase the gross margin of the business to
69% from 67% in the March quarter of 2011."
"The recent announcement that SomnoMed's MATRx system has now
received FDA clearance allows us to put the proof of individual
treatment effectiveness in the forefront of our medical drive and
strategic positioning in the industry in anticipation of the Sleep
Congress 2012 to be held in June in Boston, USA,"
commented Mr Barschow.
The cash use for the quarter was $170,000, including cash payments of $371,000 made in connection to the completion of
the acquisition of SomnoMed's share in the Dutch company and
associated transaction costs. SomnoMed had a cash balance of
$3.1 million at the end of Q3.
Contact:
Ralf Barschow
CEO, SomnoMed Limited
Ph +1 888 447 6673 Ext. 101
Cell +1 972 742 2995
SOURCE SomnoMed Limited