EDAP TMS S.A. (EDAP) Reports Q1 EPS of EUR0.05

EDAP TMS S.A. (NASDAQ: EDAP) reported Q1 EPS of EUR0.05, versus EUR0.10 reported last year. Revenue for the quarter came in at EUR8.7 million, versus EUR6.2 million reported last year.

Marc Oczachowski, EDAP’s Chief Executive Officer, stated, “2016 is off to an excellent start, as we delivered the strongest first quarter financial performance in the Company’s history. We continue to build momentum following the FDA clearance of Ablatherm Robotic HIFU, with revenue from our HIFU division doubling over the first quarter of 2015 on strong system sales and treatment-driven revenues.

“In addition to the strong HIFU sales growth, we recently achieved an important regulatory milestone with the submission of our 510(k) application for the potential FDA clearance of Focal One®. We believe that the investments we are currently making in the expansion of our U.S. sales and marketing infrastructure for Ablatherm will play a key role in supporting the potential U.S. commercialization of Focal One as well. We generated significant interest in Ablatherm at last week’s AUA Annual Meeting in San Diego, and are in the process of rolling out a series of direct marketing initiatives aimed at both urologists and patients. HIFU has only been available in the U.S. for several months and the market is still in its infancy. Nevertheless, we are thrilled with the adoption thus far and look forward to building a solid foundation for long-term growth.

“Our UDS / Lithotripsy business also continued to perform well, achieving 18.5% year-over-year growth in the first quarter. Our ability to grow this segment of the business in a crowded and highly competitive market speaks to the breadth of our lithotripter and urinary stone laser product portfolio as well as the quality of our technology.”

Mr. Oczachowski added, “Overall, we believe that EDAP is positioned for further near-term growth and significant longer-term success. We have a strong, global pipeline of HIFU projects in our core urology market and continue to advance our R&D efforts aimed at expanding the application of our world-class technology into other indications. With the proceeds of our recently completed registered direct offering, we are well funded to support the Company’s future growth, extend our leadership position in the markets we serve, enter new markets and create value for physicians, patients and our shareholders.”

For earnings history and earnings-related data on EDAP TMS S.A. (EDAP) click here.

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